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REPORT ON EVN (Evolution Mining Ltd) Thefour requirementsfor your report are as follows: 1. Introduce and summarise the company (300 words) In this section, please tell us about the company, the...

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REPORT ON EVN (Evolution Mining Ltd)

Thefour requirementsfor your report are as follows:

1. Introduce and summarise the company (300 words)

In this section, please tell us about the company, the industry it is in, and its recent history.

2. Summary of corporate governance at your company (500 words)

Please locate the latest annual report published by your company. Locate the following and provide a summary of what they say:

  1. Composition of the board, including the ratio of independent to non-independent directors. Is the Chairperson of the board an independent director?
  2. The reports from the Chairperson and the CEO
  3. The remuneration report—summarise how directors and executives are remunerated.

Provide an overall summary of the report stating what immediate priorities of the company are and what plans might be in place to achieve them.

You are not expected to provide a financial analysis of the company unless it supports any of the points above.

3. Board orientation (900 words)

Review your company’s most recent annual report and its web site. You should also read any media releases it might show on its web site. Analyse what you find and determine the most likely orientation of its board.

Make sure you justify your conclusion with reference towhichever theories are most applicable.ONLY ONEamong (Agency theory, stakeholder theory : Ethical & Managerial branch, resource dependency theory) please see the attached file too.

4. Interpretation of company communications using Legitimacy Theory (300 words)

Answered Same Day Jun 04, 2021


Sourav Kumar answered on Jun 04 2021
108 Votes
REPORT ON EVN (Evolution Mining Ltd)
Introduce and summarise the company
Evolution Mining is a growth focused and leading gold miner in Australia. The mining company operates in five mines that are wholly owned by them which includes Cowal (New South Wales); Mungari (Australia) and; Cracow, Mt Carlton and Mt Rawdon (Queensland). Evolution Mining is also interested in Queensland's Ernest Henry.
The company was created in the later part of 2011 with the merging of Conquest Mining Ltd and Catalpa Resources Ltd along with the acquisition of the interests of New rest Mining in the Mt Rawdon and Cracow mines. Evolution Mining has gotten continuously through the policy of acquisition after having acquired Cowal in 2015, July; Mungari in 2015, August and Ernest Henry in 2016, November. The company focuses on the strategy of upgrading asset portfolio quality and on decreasing the costs to emerge as one of the gold producers with lowest costs, globally (Gopalakrishnan, 2018).
The mining company has guided the production of around 720,000-770,000 ounces of FY19 Group gold at the cost of around A$900 for each ounce of gold which is very sustainable.
The company is reputed for its reliability of achieving production, consistency as well as cost guidance. It stresses on the importance of safety of workers and full participation of employees.
Summary of corporate governance at your company
The board of directors who are in charge of corporate governance is made up of three to nine directors. It contains a majority of Non-executive and independent directors who, like other executive directors have a mixture of skills, expertise and experience to meet the responsibilities of the Board (Crouse, 2016).
The company supports the ASX Council of Corporate Governance's intent as well as recommendations and fulfils the requirements until it is otherwise disclosed.
The Board has subcommittees who look after the audition, nominations and remuneration and concepts of sustainability and risks while providing the corporate governance report.
The remuneration report for corporate governance of Evolution Mining has the following objectives and principles:
• Total compensation for each degree of the workforce is suitable and serious;
• Total compensation contains a serious fixed segment and a sizeable "in danger" segment dependent on execution obstacles;
• Short term motivating forces are suitable with obstacles that are quantifiable, straightforward and feasible;
• Incentive plans are intended to rouse and boost for elite and conveyance on hierarchical targets;
• The corporate long haul motivators are focussed on investor esteem; and
• The standards and trustworthiness of the compensation audit process convey reasonable and impartial results.
Board orientation
The board of director in includes executive chairman, financial officer, Non- executive director, Lead independent director. This gives the ratio of 1:6 independent to non-independent directors. Yes the chairperson is also an...

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