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AXIOM MINING LIMITED
ANNUAL REPORT 2015
Notes to the
financial statements
for the year ended 30 September 2015
GROUP FINANCIAL REPORT
18. Commitments (continued)
b. Operating lease commitments
2015
$000
2014
$000
Within one year
50
128
After one year but within five years
–
10
50
138
19. Auditor’s remuneration
2015
$000
2014
$000
Amount received or due and received by auditors for:
Hall Chadwick
Audit and review of financial reports under the Corporations Act 2001
57
80
Audit services by firms other than Hall Chadwick
29
10
86
90
20. Related parties
a. Balances with related parties
During the 2014 year an advance of $28,093 was outstanding from Ryan Richard Mount at market rates. This advance was
fully paid during the year including interest at market rates.
Transactions with related parties
Stephen Ray Williams is a consultant to Kemp Strang Lawyers. Mr Williams is not a partner of Kemp Strang Lawyers.
During the year $132,550 (2014 $97,829) (exclusive of GST) was paid to Kemp Strang Lawyers for legal services on normal
commercial terms.
Stephen Ray Williams provided consultancy services to the Company through Burrawong Holdings Pty Ltd. During
the year Nil (2014: $8,000) (exclusive of GST) in consultancy fees were charged by Burrawong Holdings Pty Ltd to
the Company.
During the year, advisory services were provided by JRG Consulting (JRG). Mr Jeremy Gray, who is a Non-executive
Director, controls JRG. The Board considers that the JRG agreement is a commercial arrangement entered into on
reasonable arm’s length terms. There is no obligation for the Company to acquire services exclusively from JRG or for
JRG to exclusively provide services to the Company. Total amount paid to JRG during the year including the provision
of services provided by Mr Jeremy Gray was $28,650 (2014 Nil).