Risk Management & Internal Controls
The Board is responsible for ensuring that risks, and also opportunities, are identified on a timely basis and that activities are aligned with the risks and opportunities identified by the Board. The company believes that it is crucial for all Board members to be a part of this process, and as such the Board has not established a separate risk management committee.
The Board has a number of mechanisms in place to ensure that management’s objectives and activities are aligned with the risks identified by the Board. These include the following:
- Board approval of all acquisitions/farm-ins/farm-outs of mineral projects
- The receipt of regular financial information
- The approval of budgets on all significant mineral projects and monitoring of budgets
