The purpose of the investigating accountant's appointment is to report on the concerns raised in Australian Securities Investment Commission's (ASIC) application in relation to the Offer. The report must comply with the Australian Auditing Standard (AUS) 804 or at least, the reasonableness of the report can be appropriately verified (Cockburn: 2002: 1).
16. What are the risk factors associated with this prospectus and briefly describe each?
Investing in Tiaro Coal Limited involve embracing the susceptibility to uncertainties and risks. According to Section 10 of the Prospectus, Tiaro Coal's business activities are subject to both business risks and general risks. In relation to the nature of the business, there is the associated specific risk on exploration and development. There is no assurance that the funds spent on these activities will result in discoveries of new reserves and that it will be commercially viable. There are also uncertainties as to the result of existing and future contracts; the availability of market and the cost to transport; application of exploration permits; disruption of operations; environmental risk; insurance and other factors are also inevitable. There are also financial risks that may arise as the value of the shares fluctuates in the stock market. Any changes in laws and government policies, government actions, taxation, actions of key personnel and management, as well as the application of changes to accounting policies may also affect the future reported financial reports. Though some risks are uncontrollable, Tiaro Coal uses appropriate safeguards and systems to at least mitigate those risks.
17. Who has controlling interest (maximum share holding) in Tiaro Coal Limited and how many shares do they own?
Hudson Resources Limited (HRL) has the controlling interest in Tiaro Coal Limited. The shareholding of HRL and of its subsidiary, TEC, was restructured when Tiaro Coal was formed. Following the restructure, TEC became a wholly owned subsidiary of Tiaro Coal, and Tiaro Coal became a wholly owned subsidiary of HRL, with the issuance of the 30,000,000 shares. HRL will hold 66.66% before the exercise of the options, and 55.5% after the all the issued options have been...
In 2006, production workers, earned $21.40 an hour in oil and gas extraction, $22.08 an hour in coal mining, $22.39 an hour in metal ore mining, and $18.74 an hour in nonmetallic minerals mining, compared to the private industry average of $16.76 an hour Figure 1 and Figure 2 below show the 'Average Earnings of Non-Supervisory Workers in 2006 and Median Hourly Mining of the Largest Occupations in Mining, May
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" President Truman did not deal with the UMWA because he had a love for labor, either. He feared that a prolonged strike would hurt a nation recovering from World War II, and so, he signed the fund into action with the union president. The UMWA was crucial in settling the strike and getting benefits for the miners and at the heart of the organization was its president, John L. Lewis. Lewis
In other words, the finances of a deficit country were constrained because they did not have enough gold to go around, while a country with a surplus did not face those issues. In addition, usually the weight of modification falls on these weaker countries, which is another flaw in the gold standard. Because the weaker countries could not react quickly enough to economic problems, they had less capital to
Another historian notes, "Economically, baby boomers experienced unprecedented national affluence throughout their childhood. During the 1950s and 1960s, the U.S. economy expanded greatly, raising the living standards of most American families" (Clydesdale 606). Religion played less of a role in society by the 1990s, as church attendance and membership began to decline in the 60s. Historian Clydesdale continues, "When the cultural challenges of the 1960's disestablished this religious ethos,
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