The Directors of the Company believe that corporate governance is fundamental to the promotion of shared value and sustainable development. The Directors are committed to high standards of corporate governance of which they are accountable to shareholders. The Directors consider that standards of governance employed and the creation of shared value are interdependent. The governance standards ensure the effective functioning of the Board of Directors and its Committees and set forth the procedure by which the Board should undertake its responsibilities. The Board has also adopted a Code of Conduct and Ethics.
The Company's objective is to identify, acquire and invest early stage equity or loan capital in quality exploration and development projects, which will have a long life and will have cost competitive production. In pursuing this objective, the Directors have adopted a common approach to corporate governance standards and apply the principles contained in the Corporate Governance Code. The Code is predicated on the regulatory standards in the United Kingdom and the United States. In circumstances where the corporate governance standards vary between the two jurisdictions the Directors have resolved to adopt what they consider to be the better of the prevailing standards.
The Code sets out standards in relation to specific areas of responsibility, including but not limited to:
- procedures for the review of strategic objectives as an outcome of executive management recommendations;
- approval of future project acquisitions recommended by the Investment Advisory Board, approval of financial budgets;
- evaluation of actual against budget by both financial and non-financial indicators; and
- communication, reporting, implementation and review of risk management systems.
The following documents detail the Company's governance standards and provide the required framework for the Company to act legally, ethically and responsibly on all matters. The documents are available by clicking on the associated link:
- - Company Vision
- - Company Values
- - Company Overview
- - Corporate Governance