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53<br />
NORTHERN MINERALS LIMITED<br />
DIRECTORS’ REPORT FOR THE YEAR ENDED 30 JUNE 2021<br />
CORPORATE GOVERNANCE STATEMENT<br />
The Board of Northern Minerals Limited is committed to achieving and demonstrating the highest<br />
standards of corporate governance. The Board is responsible to its shareholders for the performance<br />
of the Company and seeks to communicate extensively with shareholders. The Board believes that<br />
sound corporate governance practices will assist in the creation of shareholder wealth and provide<br />
accountability.<br />
In accordance with ASX Listing Rule 4.10.3, the Company has elected to disclose its corporate<br />
governance policies and its compliance with them on its website, rather than in the <strong>Annual</strong> <strong>Report</strong>.<br />
Accordingly, information about the Company’s corporate governance practices is set out on the<br />
Company’s website at www.northernminerals.com.au.<br />
AUDITOR’S INDEPENDENCE DECLARATION<br />
A copy of the auditor’s independence declaration as required under section 307C of the Corporations<br />
Act 2001 is set out on page 103. 71.<br />
NON-AUDIT SERVICES<br />
There were no non-audit services carried out in the year ended 30 June 2021.<br />
SIGNIFICANT EVENTS AFTER THE BALANCE DATE<br />
On 30 July 2021, the Company issued 51,020,408 unlisted options to subscribers with an exercise price<br />
of A$0.074 and an expiry date of 27 July 2024. This was the final tranche of the placement announced<br />
on 16 February 2021, raising A$20 million (before costs).<br />
The impact of the Coronavirus (COVID-19) pandemic is ongoing as at 30 June 2021 and it is not<br />
practicable to estimate the potential impact, positive or negative, after the reporting date. The situation<br />
is constantly changing and is dependent on measures imposed by the Australian Government and other<br />
countries, such as maintaining social distancing requirements, quarantine, travel restrictions and any<br />
economic stimulus that may be provided.<br />
Signed in accordance with a resolution of the directors.<br />
_____________________<br />
Colin McCavana<br />
Director<br />
10 September 2021<br />
21<br />
NORTHERN MINERALS _ ANNUAL REPORT 2021
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