Corporate Governance

Corporate Governance Statement

The Board of Directors of Alt Resources Limited (The “Company”) is responsible for Corporate Governance of the Company. To the extent they are applicable to the Company, the Board has adopted the ASX Corporate Governance Council’s “Corporate Governance Principles and Recommendations – 3rd Addition” (“The ASX Principles”). The Board is committed to administering the policies and procedures with openness and integrity, pursuing the true spirit of corporate governance commensurate with the Company’s needs.

The Board of Directors

The Board guides and monitors the business and affairs of the Company on behalf of the shareholders by whom they are elected and to whom they are accountable. The Board operates in accordance with the broad principles set out in its charter which is available in the corporate governance information section of the Company’s website at www.altresources.com.au.

The Company’s constitution provides that the number of directors shall not be less than three and not more than nine. There is no requirement for any shareholding qualification.

The membership of the Board, its activities and composition, is subject to periodic review. Under the company’s constitution the tenure of a director is (other than managing director) subject to reappointment by shareholders not later than the third anniversary following his or her appointment. A managing director may be appointed for any period and on any terms the directors deem fit and, subject to the terms of any agreement entered into, may revoke any appointment.

The board considers that the company is not currently of a size, nor are its affairs of such complexity to justify the formation of separate or special committees (other than an Audit and Risk Committee) at this time. The board as a whole is able to address the governance aspects of the full scope of the company’s activities and to ensure it adheres to appropriate ethical standards.

Role of the Board

The board is responsible for oversight of management and the overall corporate governance of the company including its strategic direction and establishing goals for management and monitoring the achievement of these goals.

Continuous Review of Corporate Governance

Directors consider, on an ongoing basis, how management information is presented to them and whether such information is sufficient to enable them to discharge their duties as directors of the company. Such information must be sufficient to enable the directors to determine appropriate operating and financial strategies from time to time in light of changing circumstances and economic conditions. The directors understand that mining exploration is an inherently risky business and that operational strategies adopted should be directed towards improving or maintaining net worth of the company.

ASX Principles of Corporate Governance

The board has reviewed its current practices in light of the current ASX Corporate Principles and Recommendations with a view to making amendments where applicable after considering the company’s size and the resources it has available.

As the company’s activities develop in size, nature and scope, the size of the board and the implementation of any additional formal corporate governance committees will be given further consideration.

Please click the following link for the table which sets out the company’s present position in relation to each of the ASX Corporate Principles and Recommendations:

Click for Corporate Governance Table
Address
ALT Resources Limited

PO Box 1054
Jindabyne NSW 2627
Phone: 1300 66 0001
Email: info@altresources.com.au