compare the stock prices over the last 5 years, (which I did) the shares prices for both (GG and ABX) are down 70%, NEM only 53%. None of these guys are holding up shareholder value well. My opinion, cutting the dividend in times of low gold prices should have come earlier, stock pile cash and buy on the cheap a company that doesn't have the cash to bring their assets up from the ground. New CEO is smarter than the older one, also gets to take a non cash impairment valuing assets at $100 less than present price of gold. Smart move in my opinion.
A new CEO comes in, decides to be conservative in the amount of reserves, and the cost that might get for those reserves, cuts the dividend so that the company can raise money when gold co. are on sale; why is everyone upset. I think he has done the prudent thing all things considered.