Page 34 - Axiom Mining Limited 2012 Annual Report

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Corporate Governance
Axiom Mining Limited
Continuous Disclosure
The Company must comply with the continuous
disclosure requirements of the ASX Listing Rules and
Corporation Act, which requires it to disclose to the
ASX any information concerning the Company that
a reasonable person would expect to have a material
effect on the price or value of the Company’s securities
unless certain exemptions from the requirements
apply. To ensure it meets its continuous disclosure
obligations, the Board itself, through the Chief Executive
Officer, is responsible for determining and approving
all continuous disclosure matters.
Identification and Management of
Business Risk
The Board is responsible to identify, monitor and reduce
the significant areas of potential business and legal risk
of the Company. The Board continually reviews the risks
associated with its exploration activities and also reviews
and monitors the parameters under which such risks
will be managed.
Ethical Standards
The Board recognises the need for Directors and
employees to observe the highest standards of behaviour
and business ethics when engaging in corporate activity
especially in developing jurisdictions. The Company
officers and employees are required to act in accordance
with the law and with the highest ethical standards
and in compliance with Australian and the laws of each
country in which it operates. In addition to the Trading
Policy, on joining the Board, the Directors are required
to sign a director’s disclosure statement. This sets out
their obligations regarding disclosure of dealing in the
Company’s securities. Each quarter at formal Board
meetings or other meetings when convened Directors
are required to make disclosures of any matters which
may have altered or where any matter to be discussed by
the Board might give rise to a conflict of interest. Where
a conflict of interest may arise the relevant Director(s)
may be asked to leave the meeting to ensure full and
frank discussion of the matter(s) under consideration
for determination.
Shareholder Communication
The Board strives to ensure that shareholders are provided
with sufficient information on a continual basis to assess
the activities and performance of the Company and its
Directors to enable shareholders to make well informed
investment decisions. Information is communicated to
shareholders through:
quarterly, half-yearly and audited annual financial
annual and other general meetings convened for
shareholder review and where necessary approval
of Board proposals;
continuous disclosure of material changes to the
ASX for open access to the public, as set out in the
Company’s continuous disclosure policy; and
the Company’s website at
where all ASX announcements, notices and financial
reports are published as soon as possible after release
to the ASX.
The auditor is invited to attend the Annual General
Meeting of shareholders.
Risk Factors
There are a number of risk factors that may affect the
financial performance of the Company and the value of
an investment in shares issued in the Company. While
some of these risks can be minimised, some are outside
the control of the Company. There are also specific risks
associated with the Company’s business and investment
in the mineral exploration and mining industry and in the
jurisdictions in which it operates including but not limited
to sovereign risks.
Business Risks
The business of mineral exploration, project development
and mining, by its nature, contains elements of significant
risk with no guarantee of success. There is no assurance
that exploration on any of the Company’s projects
described in this report, or on any other projects that
may be acquired, will result in the discovery of a mineral
deposit. If there is a discovery, it may not prove to be
economically viable to exploit the discovery.