Bonus Galore!

[Michael Alexander]

Thumbs Up to The Mine Management, the workers who stayed with the company during those dark and depressing times have just been paid a rather large bonus....... This in turn has had a ripple effect through the local economy , if I am not mistaken, this is the 2nd bonus paid out in 30 days.....

I also believe that the diamond demand is improving and the workforce continues to deliver the carats ( although 600 short of the target), even though they are now drastically reduced in numbers.... see! It can be done!

[SandyB]

sounds encouraging ... so despite the cost  cuttings  and feelings of doom and gloom  something has panned out ...  methinks the powers that be maybe  had a discretionary fund  for  paying out bonus  as a  kind of  lifter upper/ motivational thing .. our company has done it before  one tricky year , just short of  targets , but yes the workforce had out in their bit , so they paid out a bonus despite the fact that our bonus's are strictly  profit over run linked .. ie  break even   and then only  bonus paid ..

[Alfred Boehme]

No I don't thinks it's a second bonus,
they said there would be three sections to the bonus depending on targets all the targets where reached.
The non barganing unit got there first section payout a couple of weeks ago and they will receive the 2nd and third part
The barganing unit will receive all three parts on Monday

[Michael Alexander]

Well in that case ... the money was in already today, hence Spar being so busy....

[Mike Stenson (RIP)]

They say if we meet all sorts of KPI's next year there will be lots more bonus's.
There was absolutely no money to pay for a salary increase....  so wonder were all this money is going to come from..... 

[SandyB]

READ ... discretionary  fund ...  at shareholder   discretion .... all depends ... although a bonus may be a short term , it seems to have a usual  positive effect ,,,

[Paul Alexander]

No discretionary fund, did require shareholder approval though since it impacts the companies already large overdraft facility and payback terms. A big up to the company though, the union on the otherhand were being a bunch of 'dunderhieds' about the whole thing but saw the light in the end...

[SandyB]

In our  case  the discretionary .. could be money  squirreled away or  as we   do at times dig into  operating overdraft ... but then not on the scale  that  Namdeb has ...  makes  me shiver  thinking of  such a huge  operating overdraft as mentioned  somewhere else on the site ... ...  but then on the positive side ... nowhere near Dubai Worlds  debt woes hey ??? 

[Alfred Boehme]

Well in that case ... the money was in already today, hence Spar being so busy....

mmmmm................... today is Monday

[Chris Macpherson]

Fire sum one in eng dept u know who and you can split his wasted salary amongst the deserveing lot who can use it ..........lol.lol.........

[John Creedy]

Chris, who would that be and from what year??????

[SandyB]

Chris ....  naughty naughty ....