Annual Report 2005 - Pioneer Resources Limited

PIONEER NICKEL LIMITED AND ITS CONTROLLED ENTITYPioneer Nickel LimitedDirectors’ ReportPullinger Readhead Lucas, an entity associated with Mr CL Readhead,provided legal services to the Company further details of which aredisclosed in Note 18 to the full financial report. A related entityassociated with Mr I J Buchhorn also provided the rental of officepremises to the Company during the financial year. Further details aredisclosed in Note 18 to the full financial report.Other than the Directors disclosed above there were no other executiveofficers who received emoluments during the financial year ended 30June 2005.INDEMNIFYING OFFICERS AND AUDITORDuring the year the Company paid an insurance premium to insurecertain officers of the Company. The officers of the Company coveredby the insurance policy include the Directors named in this report.The Directors and Officers Liability insurance provides cover against allcosts and expenses that may be incurred in defending civil or criminalproceedings that fall within the scope of the indemnity and that may bebrought against the officers in their capacity as officers of theCompany. The insurance policy does not contain details of thepremium paid in respect of individual officers of the Company.Disclosure of the nature of the liability cover and the amount of thepremium is subject to a confidentiality clause under the insurancepolicy.The Company has not provided any insurance for an auditor of theCompany.AUDITORS’ INDEPENDENCE DECLARATIONSection 370C of the Corporations Act 2001 requires the Company’sauditors Butler Settineri Chartered Accountants, to provide theDirectors of the Company with an Independence Declaration in relationto the audit of the financial report. This Independence Declaration isset out on page 33 and forms part of this Directors’ Report.NON-AUDIT SERVICESNo fees for non-audit services were paid/payable to the externalauditors during the year ended 30 June 2005.CORPORATE GOVERNANCEIn recognising the need for the highest standards of corporatebehaviour and accountability, the Directors of the Company support andhave adhered to the principles of corporate governance. The Company’scorporate governance statement is contained in the Annual Report.DATED at Perth this 23rd day of September 2005.Signed in accordance with a resolution of the Directors.D J CrookMANAGING DIRECTORPioneer Nickel Annual Report 200532