Corporate Governance

Rockland Resources Pty Limited has adopted systems of control and accountability as the basis for the administration of corporate governance. Rockland Resources Pty Limited is committed to administering the policies and procedures with openness and integrity, pursuing the true spirit of corporate governance commensurate to Rockland Resources Pty Limited's needs.

The Directors play a vital role in driving the performance of the company as well as ensuring compliance with all its contractual, statutory and any other legal obligations, including the requirements of any regulatory body.

As the activities of Rockland Resources Pty Limited develop in size, nature and scope, the size of the Board, the implementation of additional corporate governance structures and the adoption of corporate governance policies and practices will be adhered to. This will be done with a view to maintaining a Board that can adequately and appropriately supervise the Company's activities.

The Board is responsible for assessing, establishing and updating the strategic direction of the Company, establishing corporate objectives and monitoring the progress of these objectives.

The Board has exclusive responsibility in relation to the following:

  • Overseeing the management of business risks, safety and occupational health, environmental issues and community development;
  • Appointing and removing any Executive Director and approving their remuneration;
  • Appointing and removing the Company Secretary and approving their remuneration;
  • Developing corporate objectives and the strategic direction of the Company and assessing the performance of management against the Board's strategies;
  • Assessing the adequacy of resources for management to properly carry out approved strategies;
  • Monitoring actual performance against defined performance expectations and reviewing operating information to understand at all times the state of health of the company;
  • Adopting operating and exploration expenditure budgets at the commencement of each financial year and monitoring the progress by both financial and non-financial key performance indicators; and
  • Satisfying itself that the financial statements of the company fairly and accurately set out the financial position and financial performance of the company for the period under review.