Axiom 2014 Annual Report - page 106

Notes to the Financial Statements
for the year ended 30 September 2014
104
Axiom Mining Limited
16. Share capital (continued)
Key inputs used in the calculation of the value of options granted during the year ended 30 September 2014 are:
Grant date
Expiry date
Spot price
$
Volatility
%
Risk free rate
%
01-Oct-13
30-Nov-14
0.021
120
2.4
06-Feb-14
10-Feb-17
0.015
120
3.0
10-Apr-14
31-Mar-15
0.014
120
2.7
26-Jun-14
30-Sep-14
0.017
120
2.7
08-Sep-14
30-Nov-14
0.016
120
2.7
Expected volatility was determined based on historic volatility adjusted for any expected changes to future volatility
based on publicly available information. All options granted during the year vested on grant date. None of the options
issued have vesting conditions attached.
c. Performance rights
Details of the movements in rights granted are as follows:
No of rights
outstanding
as at
1 October
2013
Granted
during the
year
Exercised
during the
year
Lapsed
during the
year
No. of rights
outstanding
as at
30 September
2014
Stephen Ray Williams
12,500,000
–
–
– 12,500,000
Ryan Richard Mount
100,000,000
–
–
– 100,000,000
Neil Francis Stuart
2,000,000
–
–
2,000,000
–
Other employees
2,200,000
–
–
2,200,000
–
116,700,000
–
–
4,200,000 112,500,000
d. Capital management
The Company’s primary objectives when managing capital is to safeguard the Company’s ability to continue as a going
concern, so that it can continue to provide returns for shareholders and benefits for other stakeholders, by pricing
products and services commensurately with the level of risk and by securing access to finance at a reasonable cost.
The Company actively and regularly reviews and manages its capital structure to maintain a balance between the higher
shareholder returns that might be possible with higher levels of borrowings and the advantages and security afforded by
a sound capital position, and makes adjustments to the capital structure in light of changes in economic conditions.
Neither the Company nor any of its subsidiaries are subject to externally imposed capital requirements.
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