Axiom Mining 2015 Annual Report

GROUP FINANCIAL REPORT

Directors’ report continued

36

Audit fees and fees for non-audit services are disclosed in Note 19 to the consolidated financial statements.

Remuneration report (continued)

Share options and performance rights (continued)

Auditor’s independence declaration The lead auditor’s independence declaration for the year ended 30 September 2015 has been received and can be found on page 34 of the financial report. This Directors’ Report, incorporating the Remuneration Report, is signed in accordance with a resolution of the Board of Directors. Signed in accordance with a resolution of the Board of Directors.

Indemnification of officers and auditors During the financial year, the Company paid an insurance premium in respect of a contract insuring Directors and officers against liability arising from claims brought against them individually or jointly while performing services for the Company, and against expenses relating thereto, in accordance with the Company’s constitution. In accordance with commercial practice, the insurance policy prohibits disclosure of the amount of the premium and the nature and the amount of the liability covered. Non-audit services The Board of Directors, in accordance with advice from the audit committee, is satisfied that the provision of non-audit services during the year is compatible with the general standard of independence for auditors imposed by the Corporations Act 2001. The directors are satisfied that the services disclosed below did not compromise the external auditor’s independence for the following reasons: – all non-audit services are reviewed and approved by the Board prior to commencement to ensure they do not adversely affect the integrity and objectivity of the auditor; and – the nature of the services provided does not compromise the general principles relating to auditor independence

Stephen Ray Williams Chairman Dated at Brisbane 21 December 2015

AXIOM MINING LIMITED ANNUAL REPORT 2015

in accordance with APES 110: Code of Ethics for Professional Accountants set by the Accounting Professional and Ethical Standards Board.