4 questions lodged at 2026 Australian Mines (AUZ) virtual EGM
October 9, 2026
Below is the text of the 4 written questions submitted at the Australian Mines (AUZ) 10am AEST virtual EGM on October 7, 2026 via the Automic platform to approve 5 resolutions including a share consolidation. See notice of meeting. Market cap $66m on EGM day. See 5 questions asked at 2025 virtual EGM. The proxies were not disclosed early to the ASX. There were modest across the board protest votes with the biggest being 24% against the share consolidation. See voting results.
Q1. Well done for finally putting up a share consolidation resolution. I'm always surprised when there is push back against these proposals? Did any shareholders object and was there any logic to what the critics said? Are the proxy votes strongly in favour?
Answer: The chair Michael McNeilly said the 24% protest reflected the fact some shareholders don't believe such a consolidation will help with trading. Watch video of exchange via Twitter.
Q2. I have never asked a question on a resolution called 4.5.1 before. Was it the lawyers who came up with this formula? Why do you present this EGM as having 5 resolutions when there are in fact 18 different votes to be conducted today? In future, please just number them 1 to 18. Also, regarding resolution 4.5.1, is Andrew Nesbitt proposing to take the options and performance rights in his own name, or nominate someone else as the resolution allows?
Answer: Question wrangler and out-sourced company secretary Oliver Carton edited down most of these missives and didn't ask the Andrew Nesbitt component. He acknowledged it was unwieldy but blamed the ASX for requiring an individual vote on each specific incentive grant. Watch video of exchange via Twitter.
Q3. In terms of who actually buys the shares, I've never liked the standard "or his nominee" provision which the lawyers routinely slip into these sorts of resolution. Could the recipients on the call today, including Oliver Carton, comment on whether they are going to personally take up these shares in their own name, or will the stock be going into some corporate vehicle or a relative's name? Could the other director recipients also clarify their intentions on this matter?
Answer: Question wrangler and out-sourced Australian Mines company secretary Oliver Carton declined to say if he'd be putting his options into someone else's name. None of the other incentive recipients clarified the “or his nominee” question either. Watch video of exchange via Twitter.
Q4. Since I last engaged with you at our 8 minute August 2025 EGM, the company's market cap has soared from $13.7m to $66m, so well done for that. The Brazilian share market has been surging this week after elections suggested a move to the more pro-business political right, similar to what has happened in Argentina. Does this partly explain our strong recent share price performance? How pro-mining are the likely new President's policies?
Answer: Oliver Carton edited down most of the questions but at least he read the second half of this one. Chair Michael McNeilly initially deferred answering then offered nothing later on. Watch video of exchange via Twitter.
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