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WESTERN DESERT RESOURCES LIMITED ABN 48 122 301 848 CORPORATE GOVERNANCE STATEMENT Principle 9: Remuneration Policy Remunerate fairly and responsibly The Company’s Constitution specifies that the total amount of remuneration of non-executive directors shall be fixed from time to time by a general meeting. The current maximum aggregate remuneration of non-executive directors is set at $250,000 per annum. Directors may apportion any amount up to this maximum amount amongst the non-executive directors as they determine. Directors are also entitled to be paid reasonable travelling, accommodation and other expenses incurred in performing their duties as directors. • Not improperly use their position or information obtained through their position to gain a personal advantage or for the advantage of another person to the detriment of the Company; • Disclose material personal interests and avoid actual or potential conflicts of interests; • Keep themselves informed of relevant Company matters; • Keep confidential the business of all directors meetings; and • Observe and support the Board’s Corporate Governance practices and procedures. The remuneration of the Managing Director is determined by the Board as part of the terms and conditions of his engagement which are subject to re<strong>view</strong> from time to time. The remuneration of employees is determined by the Managing Director subject to the approval of the Board. Further details of directors’ and executives/officers’ remuneration, superannuation and retirement payments are set out in the Directors’ Report. Principle 10: Recognise the legitimate interests of stakeholders Code of Conduct The Company requires all its directors and employees to abide by the highest standards of behaviour, business ethics, and in accordance with the law. In discharging their duties, Directors of the Company are required to: • Act in good faith and in the best interests of the Company; • Exercise care and diligence that a reasonable person in that role would exercise; • Exercise their powers in good faith for a proper purpose and in the best interests of the Company; 30
WESTERN DESERT RESOURCES LIMITED ABN 48 122 301 848 FINANCIAL R E P O R T 2008 CONTENTS Page Directors’ Report 32 Auditor’s Independence Declaration 41 Income Statement 42 Balance Sheet 43 Consolidated Cash Flow Statement 44 Consolidated Statement of Change in Equity 45 Notes to the Financial Statements 46 Directors’ Declaration 69 Independent Auditor’s Report 70 31
Page 1 and 2: WESTERN DESERT RESOURCES LIMITED AN
Page 3 and 4: W E S T E R N D E S E R T R E S O U
Page 5 and 6: WESTERN DESERT RESOURCES LIMITED AB
Page 31: WESTERN DESERT RESOURCES LIMITED AB
Page 35 and 36: Michael Kevin Ashton Non-Executive
Page 39 and 40: The Group embodies the following pr
Page 43 and 44: AUDITOR’S INDEPENDENCE DECLARATIO
Page 47 and 48: CONSOLIDATED STATEMENT OF CHANGE IN
Page 51 and 52: Available-for-sale financial assets
Page 55 and 56: Government grants receivable as com
Page 59 and 60: Consolidated Company 2008 2007 2008
Page 63 and 64: 16 KEY MANAGEMENT PERSONNEL COMPENS
Page 67 and 68: 20 FINANCIAL INSTRUMENTS b) Financi
Page 71 and 72: DIRECTORS’ DECLARATION The direct
Page 73 and 74: Independence Report on the Remunera
Page 80: www.westerndesertresources.com.au

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