Thanks for posting again Cap'n 'Anyway, if we can drill some...

Thanks for posting again Cap'n

'Anyway, if we can drill some DeGrussa like intercepts in the next few weeks then I couldn't care if we had the wiggles in charge.'

Too right! - as the lingo used to be. Now it's 'absolutely' etc.

The essence of the management of the company is the proper application of the relevant protocols. Wade Evans has been appointed as the CEO. He is not a Director, but he should virtually run the show. There is to be no undue interference with that position and role from any non-exec Director.

This is from the company's Corporate Governance Statement (my highlighting)

Role of the Board

The Board responsibilities are as follows:  Setting the strategic aims of the Company and overseeing Management’s performance within that framework;  Making sure that the necessary resources (financial and human) are available to the Company and Management to meet its objectives;  Overseeing and measuring Management’s performance of the Company’s strategic plan;  Selecting and appointing an Executive Director (or equivalent) with the appropriate skills to help the Company in the pursuit of its objectives;  Controlling and approving financial reporting, capital structures and material contracts;  Ensuring that a sound system of risk management and internal controls is in place;  Setting the Company’s values and standards;  Undertaking a formal and rigorous review of the Corporate Governance policies to ensure adherence to the ASX Corporate Governance Council principles;  Ensuring that the Company’s obligations to shareholders are understood and met;  Ensuring the health, safety and well-being of employees in conjunction with Management, developing, overseeing and reviewing the effectiveness of the Company’s occupational health and safety systems to assure the well-being of all employees;  Ensuring an adequate system is in place for the proper delegation of duties for the effective day to day running of the Company without the Board losing sight of the direction that the Company is taking;  Establishing a diversity policy and setting objectives for achieving diversity.

Delegation to Management

Other than matters specifically reserved for the Board, responsibility for the operation and administration of the Company has been delegated to the Executive Director ( SM - 'read CEO here'). This responsibility is subject to an approved delegation of authority which is reviewed regularly and at least annually. Internal control processes are designed to allow management to operate within the parameters approved by the Board and the Executive Director cannot commit the Company to additional activities or obligations in excess of these delegated authorities without specific approval of the Board.

MF was invited by the then Board to nominate a Director; hence BB. I guess that the same thing happened at Indiana. I suspect (logical guess) though that in each instance the investment was conditional upon his getting someone on the Board. That nominee would then try to protect his interest by not letting the company deviate from its core purpose. The core purpose of course would have to be continuing to explore the company's tenements in the Bryah Basin, and according to a prioritised , but flexible, order.

One would hope that his nominee is independent of his influence, and acts at all times in the interests of the company according to her role as determined by the said Governance provisions.