Axiom 2014 Annual Report - page 72

Notes to the Financial Statements
for the year ended 30 September 2014
70
Axiom Mining Limited
19. Auditor’s remuneration
2014
$000
2013
$000
Amount received or due and received by auditors for:
Hall Chadwick
Audit and review of financial reports and other audit work under the Corporations
Act 2001
80
–
Baker Tilly
Audit and review of financial reports and other audit work under the Corporations
Act 2001
–
30
Audit services by firms other than Baker Tilly or Hall Chadwick
10
65
90
95
20. Related parties
a. Balances with related parties
During the year a debt of $28,093 was established to a related party at market rates. This liability has been discharged
and assumed by Ryan Richard Mount since 30 September 2014.
During the year an advance of $34,801 was provided to Ryan Richard Mount at market rates. Of this, $6,708 has been
repaid subsequent to 30 September 2014 and the $28,093 liability assumed from related party remains outstanding.
b. Transactions with related parties
During the year 32,077,498 shares were issued and allotted to a related party of Director Mr Ryan Mount via rights issues,
conversion of Convertible Notes, and via Share Placements all at market rates and on the same terms as others who
participated in the offers.
During the year 25,198,414 options were granted to the related party attaching to these share offers. Of these 5,555,555
expired and 19,642,858 remain as at 30 September 2014.
The ASX has notified the Company that those shares taken up by the related party in the share offers did not have
shareholder approval breaching of listing rule 10.11 and that they must be sold and any profit donated to a registered
charity and any loss incurred to be borne by the related party.
Stephen Ray Williams is a consultant to Kemp Strang Lawyers. Mr Williams is not a partner of Kemp Strang Lawyers.
During the year $97,829 (exclusive of GST) was paid to Kemp Strang Lawyers for legal services on normal commercial
terms.
Stephen Ray Williams provided consultancy Services to the Company through Burrawong Holdings Pty Ltd. During
the year $8,000 (exclusive of GST) in consultancy fees were charged by Burrawong Holdings Pty Ltd to the Company.
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