Its a long story but TKM is a Bermudan incorporated company, not...

Its a long story but TKM is a Bermudan incorporated company, not an Australian company and therefore subject to Bermudan Corporate law. It used to be involved in projects in deepest darkest Africa and for whatever reason in a previous life they went with a Bermudan company. Bermuda still has limits on the amount of capital that can be issued (authorised capital). Australia had a similar process but this was dumped in 2001. Under Bermudan law, if you want to increase the number of shares on issue if you do not have enough authorised capital, you have to go to the shareholders to get approval to increase the number of shares that can be issued (authorised capital) They are still subject to ASX listing rules on the number of shares that can be issued.
I would suggest this reflects the board's confidence that TKM is going to have to raise a lot more capital if Xmas Creek has the potential size resource they think might be there. From previous experience with PLS, this board understands what is needed to make the exponential growth from junior explorer to the ASX 200 and are taking necessary steps to make that happen.