Principle 5: Make Timely and Balanced Disclosure
"Promote timely and balanced disclosure of all material matters concerning the company"
Recommendation 5.1: Establish written policies and procedures designed to ensure compliance with ASX Listing Rule disclosure requirements and to ensure accountability at a senior management level for that compliance.
The Company has in place a continuous disclosure policy, a copy of which is provided to all Company officers and employees who may from time to time be in the possession of undisclosed information that may be material to the price or value of the Company’s securities.
In addition, at each of its meetings, the Board discusses continuous disclosure issues as a standing item and a list of all recent Company announcements is presented.
The continuous disclosure policy aims to ensure compliance with the Company's continuous disclosure obligations under the Corporations Act 2001 (Cth) and Listing Rules. The aim of the policy is to:
- assess information and co-ordinate the timely disclosure to the ASX or the seeking of advice on the information;
- provide an audit trail of decisions regarding disclosure; and
- ensure officers and employees of the Company understand the obligation to bring relevant information to the attention of the chairperson.
The procedure adopted by the Company is essentially that any information which may need to be disclosed must be brought to the attention of the Chairman, who in consultation with the Board (where practicable) and any other appropriate personnel will consider the information and whether disclosure is required and prepare an appropriate announcement.
At least once in every 12 month period, the Board will review the Company’s compliance with this continuous disclosure policy and update it from time to time, if necessary. This continuous disclosure policy was adopted in June 2005 and reflects the position adopted under its previous continuous disclosure policies.
Recommendation 5.2: Provide the information indicated in the ASX Corporate Governance Council's Guide to Reporting on Principle 5.
The Company has provided relevant information in this Statement upon the continuous disclosure policy.
The recently completed optimisation study has indicated that an open pit mine would make a significant profit with various treatment options producing 50,000 - 60,000 ozs of Au at a gold price of A$1,300/oz
Encouraging results have been received from recent drilling of East Shear North
exploration target which lies to the east of the main Mt Martin pit.
Australian Mines Limited (ASX:AUZ) is pleased to announce an increase of approximately 50% in gold resources at the Mt Martin mine.
Australian Mines Limited (ASX:AUZ) is pleased to announce that surface drilling will recommence at Mt Martin on Monday 14th June 2010 to further define new resources at Mt Martin.
Australian Mines Limited (ASX:AUZ) is pleased to announce very encouraging results from its latest RC drilling under the East Lode pit at the Mt Martin Project
AUZ Mines which announced encouraging results on 6th April from drilling its 100% owned Mt Martin gold project will be recommencing drilling this week.