Ann: Response to ASX Query, page-21

You have been in this stock for some time now, and it would be quite plausible if it could be accredited to a lack of experience, over exuberance/excitement or ignorance of the ASX listing rules when releasing an announcement.

There is some underlying information that should be taken into consideration on whether to allow the company the benefit of doubt in this instance but, this company GPP/GNM have had a long history of dressing up announcements and this was no different.

Starting with the board of directors/secretary experience:
Kim Robinson - Non executive Chairman
35 years experience in exploration and mining, his experience is extensive including 10 years as Executive Chairman of Forrestania Gold, Non Executive Director of Jubilee Mines, Founding director and Executive Director of Kangara Ltd and Managing Director of Energia Minerals.
Currently only a director of GNM.
Salary: $25,142 - for 3 months (appointed 1/4/2020)

Cameron McLean - CEO and Managing Director
20 years experience, co-director of iBase ltd (London) CFO at Snowden Mining industry Consultants, Kangara Limited and Atrum Coal, accounting and finance at Western Mining.
Current: Founder, major shareholder and Managing Director of Mineral Intelligence (sold GPP the cobalt and vanadium projects, through ION Minerals) Managing Director of Ion Minerals, Director of Pure Minerals, Chief Investment Officer of MI Global Resource Funds
Salary: $218,392 ($164,250 2019)

Simon Peters - Non-Executive Director
Highly experience mining executive and qualified mining engineer with 20 years experience, the past 10 years has gained corporate experience on ASX listed boards in senior executive roles.
Current: a Partner of Sustainable Project Services, founding director of Murray Basin Resources and Managing Director of E2 Metals Ltd.
Salary: $56,540 ($48,650 2019)

Simon Coxhell - Technical Director
34 years of diverse experience in all aspects of the resource sector, the last 20 years with significant corporate experience on ASX listed boards in senior executive appointments, managing director and CEO of Echo Resources.
Current: Non-Executive Director of Blaze International
Salary: $54,142 - for 3 months (appointed 1/4/2020)

Miss Aida Tabakovic - Secretary
11 years experience in accounting, a double degree in accounting and finance, post graduate of Business Law. Provide services to ASX listed companies, specialising in financial accounting and reporting and corporate compliance. Also has been involved in listing a number of junior exploration companies on the ASX.

I don't disagree with at times there could be only 2 people running the day to day operation, and it could be argued that is the case here, BUT, the company has set out the way forward in its implementation of its Principles of Good Corporate Governance and recommendations after considering the guidance of the ASX' Corporate Governance Council's Principles.

Referencing recommendation 1.3: A listed entity should have a written agreement with each director and senior executive setting out the terms of their appointment.
The company has indicated it is in compliance with the commentaries:
Quote "The company has entered into an agreement with each director, covering all aspects of their appointment ....(sic)" end quote
and "Each member of the Board is committed to spending sufficient time to enable them to carry out their duties as a Director of the Company"

Referencing recommendation 1.4: The company secretary of a listed company should be accountable directly to the board, through the chair, on all matters to do with the proper functioning of the board .
The company has indicated it is in compliance with the commentary:
"The Company Secretary is accountable to the board. The board relies on the Company Secretary for guidance on governance matters .....(sic)"
https://www.asx.com.au/asxpdf/20200929/pdf/44n3lf27bhdmm8.pdf

At the bottom of company announcements:
This announcement has been authorised for release by the Board of Great Northern Minerals.
With a combined total of 120 years of experience, circa $500k in wages, cutting them some slack isn't something I would be subscribing to.
Ignorance is not an excuse ............

Resolution 6: - Adoption of Employee Securities Incentive Plan
To issue securities under the plan on the terms and conditions set out in the Explanatory Statement, to which one key indicator is to link the reward of Eligible Participants to Shareholder value creation but fails to indicate how it will be measured or how much reward will be considered, although this scheme is common and full of standard blurb, but as there has been no Incentive Plan for the preceding 3 years (might have something to do with the lack of shareholder value) but some more information required before I would be voting affirmative.
I can also think of 500,000 reasons to vote against, its called doing your job for what you get paid for. Regardless if this resolution is passed or not, the only difference in issuing shares will be if it doesn't pass, shares offered under the Incentive Scheme are deducted from the company's 15% placement capacity.

cheers