Talking about ethics. I had a look at AGS's Code of Ethics yesterday. Created in 2007 and reviewed by the board in 2011 (as per website) - but to be reviewed annually.
It's only 3 pages but covers every aspect of the company's actions that would affect shareholders.
http://www.allianceresources.com.au/irm/Company/ShowPage.aspx?CPID=1454&EID=66667826
For shareholders it appears that The "relevant person" re its implementation is the Chairman. The chairman, according to the website, has been with the company since 1994.
If all directors (independent and non-independent) have adhered to the Code of Ethics we should be fine. It's a world class asset.
Would be interesting to read Heathgate's or Quasar's Code of Ethics
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