1. The Finance Committee of the Board of Directors shall be responsible for reviewing the Corporation’s investment strategies, gold hedging program and debt and equity structure generally and making recommendations to the Board of Directors as appropriate.
2. The Committee’s responsibilities shall include:
(i) reviewing the investment strategies for the Corporation’s cash balances;
(ii) reviewing the Corporation’s gold price hedging
program including Contango
(iii) reviewing the Corporation’s debt and equity structure.
3. The Committee shall be appointed by the Board of Directors annually, shall be comprised of a minimum of three directors, at least one of whom shall be unrelated1. If an appointment of the members of the Committee is not made as prescribed, the members shall continue as such until their successors are appointed.
4. The time and place of the meetings of the Committee, the calling of meetings and the procedure in all things at such meetings shall be determined by the Committee unless otherwise determined by the by-laws of the Corporation or by resolution of the Board of Directors.