The Company incurred the following fees and expenses in the normal course of operations in connection with companies controlled by key management, directors or officers during the six months ended November 30, 2011 and 2010. Related party transactions have been measured at the exchange amount which is the amount of consideration established and agreed to by the transacting parties.
? The Company paid fees of $548,975 to a company controlled by the Chairman (six months ended November 30, 2010 $464,000) for compensation related matters.
? The Company paid for goods and services provided to the Molejon mine of $307,977 (six months ended November 30, 2010 $90,367) to companies controlled by the Chairman.
This is only about 6 months....! If you compare his salary with what he take out from the company with related transactions, than he makes more money with related transactions than with his salary.... That´s exactly what the fundmanager from Switerland told already 3 years ago!!!!