Principle 8: Encourage Enhanced Performance
"Fairly review and actively encourage enhanced board and management effectiveness"
Recommendation 8.1: Disclose the process for performance evaluation of the board, its committees and individual directors, and key executives.
The Company has adopted self-evaluation processes to measure Board performance. The performance of all directors is assessed through analysis, review and specific discussion by the Board of issues relating to individual directors' attendance at and involvement in Board meetings, interaction with management, performance of allocated tasks and any other matters identified by the Board or other directors. Any significant issues identified are actioned by the Board on an ongoing basis. Evaluation of the Board's Committees is conducted on a similar basis. Due to the Board's assessment of the effectiveness of these processes, the Board has not formalised qualitative performance indicators to measure director's performance.
The evaluation of key executives is carried out by the Board via ongoing monitoring of management performance, based on management's reporting, interaction and involvement with and to the Board and Company performance, and the functioning of the Company's Remuneration Committee and its reporting processes.
Australian Mines has achieved its best quarterly production result since the June 2005 quarter at the 100%-owned Blair Mine, located 32 kms from Kalgoorlie in W.A.
Australian Mines continues to intersect significant mineralisation in its 2008 resource drilling at Blair Deeps at the Blair Mine, located 32km from Kalgoorlie WA.
Australian Mines (ASX:AUZ) has recommenced 2008 resource definition drilling at Blair Deeps with drilling initially targeting the high grade E03C shoot below current workings at the Blair Nickel Mine located 32kms from Kalgoorlie.
Australian Mines is forecasting a continuation of improving production at its 100%-owned and operated Blair Nickel Mine following good progress with the development of the Blair Deeps orebody.
Australian Mines (ASX:AUZ) is pleased to announce a 25% increase in resources at its 100% owned Marriott's nickel project, following the completion of Phase 1 infill diamond drilling
Australian Mines Limited (ASX: AUZ) is pleased to announce another impressive high grade intercept from resource definition diamond drilling at the Marriott's nickel project, which is 65 km from Leinster in W.A.