Timetable, page-6

James Andrew Cruickshank, B.Com, GDipAppnFin, FAICD, ASA, F.Fin
Chairman & Chief Executive Officer.

Gregory David Shoemaker, B.Sc. Geosciences (Geophysics)
Director & Chief Scientist

Vicky Ann McAppion, CSA(Cert)
Director

Mark Gerard Clohessy, BA, GDippAppFin, F.FIN, Cert REM
Non Executive Director

It looks like it was Mark who appointed the Voluntary Administrator, as all the executive staff had resigned on Wednesday, 27 April 2016.

Shareholders should note the names of their directors.

There are circumstances where the director/s can become "Personally" liable!!!

Consequences of failing to perform your duties as a director

If you fail to perform your duties as a director, you may:

• be guilty of a criminal offence with a penalty of up to a maximum of $200,000, or imprisonment for up to five years, or both
• have contravened a civil penalty provision (and the court may order you to pay to the Commonwealth up to $200,000)
• be personally liable to compensate the company or others for any loss or damage they suffer
• be prohibited from managing a company.

Company losses caused by breach of directors’ duties

Another way you can become personally liable as a director is where, as a result of you having breached your duties, you have caused the company to suffer some loss.
Under these circumstances you may have acted illegally, be in breach of civil or criminal provisions of the Corporations Act 2001 and you may have to compensate the company for the loss.


Debts incurred when the company becomes insolvent

You may be liable for debts incurred by the company at a time when the company itself is unable to pay those debts, as and when they fall due. This is because one of the fundamental duties of a director of any company is to ensure that the company does not trade while it is insolvent.