 Mr Clive Hartz (63), Chairman
Clive is Chairman and Chief Executive Officer of a private diverse investment group that he established in 1976. The group’s interests span property, exploration, mining and construction and have included the development of retirement villages, offices, showrooms, industrial and residential buildings, subdivisions and shopping centres. Clive has held a number of public positions and is a director of Archangel Diamond Corporation, a Canadian listed company which made the first major diamond discovery in Russia by a western group. Clive was a key participant the resurrection of Skywest Airline in Western Australia. He is currently the President and Chairman of IGC Resources Inc., a Canadian listed resources company.
Mr David Holden (47) BSc Geol, MBA, M. AusIMM, MCIM, Executive Director
David holds a degree in Geology and a post graduate degree in Business. His experience spans over 20 years of exploration and mining from coal mines in New Zealand to underground gold mines in South Africa. More recently David was the co-founder of Ravensgate, a resource estimation, valuation and consulting Geologist group. He has also held senior exploration management roles as well as technical director roles with Australian resource companies. He was involved in the discoveries at Nimary, Brocks Creek and Mt Todd.
Mr Holden also holds a directorship and is the current CEO with a Canadian listed resources company IGC Resources Inc.
Mr Alastair Walker (49) B.Bus, F.C.P.A., F.T.I.A., Non-Executive Director
Alastair has a Bachelor of Business and is a Fellow of both CPA Australia and the Tax Institute of Australia. He has over twenty years experience in the accounting profession and commerce in areas such as finance, mining and property development. He is Company Secretary and CFO of a WA based diverse private investment group involved in resources and property development. Alastair has served as Secretary of ASX listed companies and is a director of a Canadian listed resource company.
Mr Patrick Michaels, Non-Executive Director
Mr Michaels is an investment adviser to Zuri-Invest AG, a company specializing in wealth management for high net worth individuals.
Patrick is the Managing Director of Asty Capital AG, a Swiss investment company focused on the mining sector.
Patrick has extensive experience in the fields of mining finance, fund management and asset allocation, and has a background in law and economics, with his training in the areas of private banking and investment research at UBS in Zurich. He is currently a director of Romarco Minerals Inc (TSX) and Novera Inc (TSX).
Mr Prof Thomas Neff, Non-Executive Director
Professor Neff has been involved with the uranium industry since 1974, and more recently has acted as a consultant at the CEO level to a number of the major uranium companies in the world including Cameco, and Rossing Uranium. He has also worked with fuel departments at the worlds major nuclear utilities including Tepco, Exelon, as well as with major nuclear industries including Honeywell and Westinghouse.
Thomas is actively involved in the acquisition and divestment of uranium properties and subsidiaries as well as working for the governments of Canada, Kazakhstan, the U.S. White House, State Department, DOE on trade matters and nuclear policy.
Thomas' work to date has included working with the former Soviet Union and the United States on uranium policies and has brokered and advised on off take agreements and transactions globally.
The Directors monitor the business affairs of the Company on behalf of Shareholders and have formally adopted a corporate governance policy which is designed to encourage Directors to focus their attention on accountability, risk management and ethical conduct.
The Company’s main corporate governance policies and practices are outlined below:
The Board
The Company’s Board of Directors is responsible for corporate governance of the Company. The Board develops strategies for the Company, reviews strategic objectives, and monitors performance against those objectives. The goals of the corporate governance process are to:
- drive Shareholder value;
- ensure a prudential and ethical base to the Company’s conduct and activities; and
- ensure compliance with the Company’s legal and regulatory obligations.
Consistent with these goals, the Board assumes the following responsibilities:
- develop initiatives for profit and asset growth;
- reviewing the corporate, commercial and financial performance of the Company on a regular basis;
- acting on behalf of, and being accountable to the Shareholders;
- identifying business risks and implementing actions to manage those risks; and
- developing and effecting management and corporate systems to assure quality.
The Company is committed to the circulation of relevant materials to Directors in a timely manner to facilitate Directors’ participation in the Board discussions on a fully informed basis.
Composition of the Board
Election of Board members is substantially the province of the Shareholders in general meeting.
However, the Company commits to the following principles:
(a) the Board to comprise of Directors with a blend of skills, experience and attributes appropriate for the Company and its business; and
(b) the principal criterion for the appointment of new Directors being their ability to add value to the Company and its business.
No formal nomination committee or procedures have been adopted for the identifi cation, appointment and review of the Board membership, but an informal assessment process, facilitated by the Chairman in consultation with the Company’s professional advisors, has been committed to by the Board.
Advisory Board
The Board may from time to time appoint an advisory board to assist the Board in the consideration of any issue or the implementation of any plan.
Independent Professional Advice
Subject to the Chairman’s approval (not to be unreasonably withheld), the Directors, at the Company’s expense, may obtain independent professional advice on issues arising in the course of their duties.
Remuneration Arrangements
The remuneration of an executive director will be decided by the Board, without the affected executive director participating in that decision-making process.
The maximum remuneration of non-executive Directors is the subject of a Shareholder resolution in accordance with the Company’s Constitution, the Corporations Act and the Listing Rules, as applicable. The apportionment of non-executive Directors’ remuneration within that maximum will be made by the Board having regard to the inputs and value to the Company of the respective contributions by each non-executive Director. The current limit, which may only be varied by Shareholders in general meeting, is an aggregate amount of $300,000 per annum. The Board may award additional remuneration to non-executive Directors called upon to perform extra services or make special exertions on behalf of the Company.
External Audit
The Company in general meeting is responsible for the appointment of the external auditors of the Company, and the Board from time to time will review the scope, performance and fees of those external auditors.
Identification and Management of Risk
The Board’s collective experience will enable accurate identifi cation of the principal risks which may affect the Company’s business. Key operational risks and their management will be recurring items for deliberation at Board meetings.
Ethical Standards
The Board is committed to the maintenance of appropriate ethical standards.
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