We may be seeing more women on boards and in senior management roles across several sectors, but ASX-listed small caps are still not doing so well when it comes to attracting the ladies.

Less than 24 per cent of companies with a market cap of $400m or less have at least one female director on their board, according to Stockhead’s analysis of data.

That’s barely 400 of 1714 companies.

Less than 30 have substantial female representation (i.e. more than two or 50 per cent or more).

There is still a perception that there is a shortage of women fit for board or senior management roles, but according to one recruitment expert that isn’t the case.

“There’s no lack of senior women in the market, there really isn’t,” Kelly Quirk, head of Perth-based recruiting firm Harrier Human Capital, told Stockhead.

“There are thousands and thousands of women out there in senior roles across Australia.

“There is the perception they’re not there, they are. The strategies to attract them are not there.”

Of Harrier Human Capital’s clients, all have women on their boards, but they are still less than 20 per cent of the board representation and they’re in non-operational roles.

“They’re probably someone who was a former chief people officer somewhere or someone who may have been in the professional services firms as an auditor or a lawyer, but it isn’t in the mainstream operational, commercial or finance roles,” she explained.

“It’s not a balanced representation of female commercial business leaders, it tends to be support functions.”

Health needs to take its medicine, bring in more women leaders

This is particularly true when it comes to health, according to Ms Quirk.

“If you look at the health sector, a high proportion of females there are in more ancillary-based roles rather than more senior either medical, clinical or leadership roles,” she said.

By comparison the mining sector is actually doing not too badly.

Nearly 28 per cent of the 406 companies that had females on their board were explorers and miners, including oil and gas players.

The mining sector is a “lot better than people give it credit for,” Ms Quirk noted.

“I think we have to acknowledge the nature of the sector, meaning certain role profiles are probably more appealing to men than they are women and that’s just a simple fact.

“But times are changing. It’s nowhere near as bad as it was.”

But in 2019, the vast majority of board heads and CEOs are still men.

Here’s a list* of ASX small caps with female directors:

ASX Code Company Market Cap Revenue No. of Women No. of Board Members
AJX ALEXIUM INTERNATIONAL GROUP 44.91M 15.36M 3 4
AEF AUSTRALIAN ETHICAL INVT LTD 193.92M 35.99M 3 6
JHC JAPARA HEALTHCARE LTD 336.59M 361.52M 2 5
GRR GRANGE RESOURCES LTD 248.83M 337.40M 2 5
MYR MYER HOLDINGS LTD 312.09M 2.57B 3 8
ERA ENERGY RESOURCES OF AUST 124.25M 229.07M 2 6
TGA THORN GROUP LTD 97.95M 2 5
EML EML PAYMENTS LTD 357.79M 68.31M 2 6
RFG RETAIL FOOD GROUP LTD 55.74M 373.07M 2 4
CWP CEDAR WOODS PROPERTIES LTD 385.37M 238.98M 2 6
ARQ ARQ GROUP LTD 206.84M 218.43M 1 5
FWD FLEETWOOD CORP LTD 177.31M 266.82M 2 7
FAR FAR LTD 316.77M 1 4
MXI MAXITRANS INDUSTRIES LTD 97.16M 389.99M 2 6
BDR BEADELL RESOURCES LTD 98.74M 217.72M 1 4
PRT PRIME MEDIA GROUP LTD 89.75M 217.98M 1 4
FMS FLINDERS MINES LTD 118.50M 1 5
SIV SILVER CHEF LTD 76.57M 257.95M 1 5
HFR HIGHFIELD RESOURCES LTD 212.54M 1 10
PAC PACIFIC CURRENT GROUP LTD 246.79M 149.39M 1 6
LNG LIQUEFIED NATURAL GAS LTD 297.31M 326.00k 1 6
BCI BCI MINERALS LTD 53.68M 33.03M 1 4
IPD IMPEDIMED LTD 90.96M 4.80M 1 7
EPW ERM POWER LTD 394.05M 3.28B 2 7
AGI AINSWORTH GAME TECHNOLOGY LT 262.70M 265.58M 1 6
CLQ CLEAN TEQ HOLDINGS LTD 302.26M 4.21M 2 9
BLY BOART LONGYEAR LTD 118.33M 777.08M 1 9
DME DOME GOLD MINES LTD 64.16M 1 3
SVS SUNVEST CORPORATION LIMITED 3.04M 1 3
GSN GREAT SOUTHERN MINING LTD 8.41M 1 3
RFX REDFLOW LTD 55.58M 1.73M 1 5
AMH AMCIL LIMITED 231.54M 1 7
ECL EXCELSIOR CAPITAL LTD 40.30M 1 3
MNB MINBOS RESOURCES LTD 5.65M 1 4
CSS CLEAN SEAS SEAFOOD LTD 86.00M 41.65M 2 6
TV2 TV2U INTERNATIONAL LTD 19.16M 640.25k 1 4
BID BIDENERGY LTD 143.71M 4.07M 1 6
VLW VILLA WORLD LTD 225.99M 453.76M 2 6
AHZ ADMEDUS LTD 24.78M 24.10M 1 6
FSI FLAGSHIP INVESTMENTS LTD 42.59M 1 3
CAJ CAPITOL HEALTH LTD 204.25M 118.28M 1 4
BUL BLUE ENERGY LTD 56.44M 1 4
GLE GLG CORP LTD 9.63M 180.61M 2 4
EGG ENERO GROUP LTD 101.01M 200.04M 1 5
FTT FACTOR THERAPEUTICS LTD 2.09M 5.45M 1 4
BSE BASE RESOURCES LTD 279.99M 173.20M 1 7
SRK STRIKE RESOURCES LTD 6.69M 1 5
PPG PRO-PAC PACKAGING LTD 157.96M 371.45M 2 5
NVO NVOI LTD 2.49M 1.22M 2 4
DVL DORSAVI LTD 13.26M 3.43M 1 5
MVF MONASH IVF GROUP LTD 215.56M 150.64M 2 6
LHM LAND & HOMES GROUP LTD 13.64M 244.35k 2 9
EGH EUREKA GROUP HOLDINGS LTD 62.11M 22.57M 1 4
WWG WISEWAY GROUP LTD 50.85M 81.86M 2 5
YRL YANDAL RESOURCES LTD 10.93M 2 3
JRL JINDALEE RESOURCES LTD 9.45M 65.87k 1 5
PGI PANTERRA GOLD LTD 5.48M 53.69M 1 4
A1C AIC RESOURCES LTD 9.00M 1 3
AX8 ACCELERATE RESOURCES LTD 2.67M 1 4
CRD CREDIBLE LABS INC-CDI 190.09M 19.76M 1 4
BDA BOD AUSTRALIA LTD 30.88M 1.17M 1 6
FIG FREEDOM INSURANCE GROUP LTD 4.32M 61.34M 1 3
GSW GETSWIFT LTD 101.80M 773.00k 1 3
KPG KELLY PARTNERS GROUP HOLDING 51.64M 39.47M 1 5
ELO ELMO SOFTWARE LTD 328.81M 26.52M 1 4
PAI PLATINUM ASIA INVESTMENTS LT 397.71M 2 9
AYS AMAYSIM AUSTRALIA LTD 204.47M 577.63M 1 6
XIP XENITH IP GROUP LTD 123.32M 126.34M 3 6
ABT ABUNDANT PRODUCE LTD 10.61M 427.05k 1 4
VBS VECTUS BIOSYSTEMS LTD 7.48M 2 5
MX1 MICRO-X LTD 38.70M 1.61M 1 5
PGR THE PAS GROUP LTD 25.97M 256.45M 1 5
VRT VIRTUS HEALTH LTD 336.02M 261.93M 2 6
LHB LIONHUB GROUP LTD 6.61M 1 5
WHF WHITEFIELD LTD 399.30M 1 5
AHQ ALLEGIANCE COAL LTD 29.14M 1 6
UBI UNIVERSAL BIOSENSORS INC-CDI 41.65M 65.24M 1 4
CDY CELLMID LTD 21.03M 5.73M 1 5
GBT GBST HOLDINGS LTD 90.32M 88.07M 2 5
REY REY RESOURCES LTD 53.10M 1 6
MDR MEDADVISOR LTD 45.33M 6.60M 1 5
HIL HILLS LTD 41.76M 271.78M 2 5
YOJ YOJEE LTD 50.00M 424.35k 1 4
SNS SENSEN NETWORKS LTD 35.58M 4.05M 1 5
AQS AQUIS ENTERTAINMENT LTD 8.89M 25.72M 2 5
AZM AZUMAH RESOURCES LTD 22.68M 1 4
RVA REVA MEDICAL INC - CDI 83.01M 265.00k 1 7
GTR GTI RESOURCES LTD 1.95M 45.36k 1 3
AC8 AUSCANN GROUP HOLDINGS LTD 199.36M 2 6
CGR CML GROUP LTD 93.58M 46.61M 1 5
KGD KULA GOLD LTD 7.51M 1 5
PKO PEAKO LTD 1.08M 1 3
RXP RXP SERVICES LTD 80.55M 144.95M 1 3
MOC MORTGAGE CHOICE LTD 125.00M 217.81M 2 7
KAM K2 ASSET MANAGEMENT HOLDINGS 21.46M 14.08M 1 5
AKM ASPIRE MINING LTD 63.20M 1 7
MNW MINT PAYMENTS LTD 21.20M 2.08M 1 4
BUD BUDDY PLATFORM LTD 104.10M 2.08M 1 5
AXI AXIOM PROPERTIES LTD 19.52M 3.82M 1 5
MWR MGM WIRELESS LTD 41.14M 2.74M 1 2
LAW LAWFINANCE LTD 29.50M 5.25M 1 4
ALC ALCIDION GROUP LTD 34.64M 4.18M 2 6
VMT VMOTO LTD 12.16M 8.65M 1 5
TFL TASFOODS LTD 27.89M 34.92M 1 4
NSX NSX LTD 42.19M 2.23M 1 4
ADV ARDIDEN LTD 6.71M 2 4
CSV CSG LTD 66.85M 194.59M 2 4
MRN MACQUARIE MEDIA LTD 325.29M 135.66M 2 5
CGS COGSTATE LTD 69.13M 37.39M 1 6
CLH COLLECTION HOUSE LTD 185.15M 84.93M 2 5
AXT ARGO EXPLORATION LTD 2.74M 3 7
IMM IMMUTEP LTD 98.12M 2.63M 1 5
PWN PARKWAY MINERALS NL 3.04M 169.79k 1 3
NMT NEOMETALS LTD 119.67M 2 7
CGA CONTANGO ASSET MANAGEMENT LT 10.55M 3.48M 1 4
SOP SYNERTEC CORP LTD 9.93M 11.43M 1 4
BIT BIOTRON LTD 71.40M 2 5
DTL DATA#3 LTD 248.67M 1.18B 1 5
PET PHOSLOCK ENVIRONMENTAL TECHN 205.54M 15.71M 1 5
PNN PEPINNINI LITHIUM LTD 3.24M 25.95k 2 4
HWK HAWKSTONE MINING LTD 10.27M 1 3
AVH AVITA MEDICAL LTD 214.41M 1.65M 1 6
AVJ AVJENNINGS LTD 229.52M 372.91M 1 8
MTB MOUNT BURGESS MINING NL 1.77M 20.00k 1 5
CCX CITY CHIC COLLECTIVE LTD 187.43M 2 6
EOS ELECTRO OPTIC SYSTEMS HOLDIN 240.26M 48.66M 1 6
NHL NOVITA HEALTHCARE LTD 12.13M 557.29k 1 3
VAL VALOR RESOURCES LTD 5.68M 1 4
HZN HORIZON OIL LTD 156.24M 100.04M 1 4
RHP RHIPE LTD 186.92M 196.61M 1 5
ADJ ADSLOT LTD 64.26M 6.91M 1 6
PMP PMP LTD 91.83M 746.01M 2 5
SDI SDI LTD 76.07M 74.54M 1 7
PXS PHARMAXIS LTD 106.46M 6.26M 1 6
NEU NEUREN PHARMACEUTICALS LTD 135.67M 2 5
KEY KEY PETROLEUM LTD 7.04M 255.58k 1 6
MOD MOD RESOURCES LTD 88.93M 1 6
R3D R3D GLOBAL LTD 205.74k 124.12k 2 5
MCM MC MINING LTD 166.24M 32.69M 1 10
IVQ INVITROCUE LTD 38.02M 573.03k 2 4
IFM INFOMEDIA LTD 385.85M 72.94M 1 6
VN8 VONEX LTD 11.76M 8.07M 1 4
PRO PROPHECY INTERNATIONAL HLDGS 17.28M 10.67M 1 5
PTL PENTAL LTD 44.96M 75.75M 1 5
BUG BUDERIM GROUP LTD 20.65M 56.41M 1 4
HSC HOMESTAY CARE LTD 25.02M 2 3
AU8 AUMAKE INTERNATIONAL LTD 61.08M 21.38M 1 5
PDZ PRAIRIE MINING LTD 76.42M 493.59k 1 6
AFA ASF GROUP LTD 61.58M 1.30M 1 7
SDG SUNLAND GROUP LTD 231.22M 295.74M 1 6
EGL ENVIRONMENTAL GROUP LTD/THE 11.09M 32.19M 1 3
PCL PANCONTINENTAL OIL & GAS NL 10.81M 2 6
GML GATEWAY MINING LTD 14.99M 1 4
IDA INDIANA RESOURCES LTD 5.17M 1 3
RMC RESIMAC GROUP LTD 208.07M 388.52M 1 6
TWD TAMAWOOD LTD 91.51M 115.32M 1 4
FUN FUNTASTIC LTD 14.69M 1 5
SGH SLATER & GORDON LTD 150.87M 159.25M 2 7
MHI MERCHANT HOUSE INTL LTD 10.84M 68.22M 4 7
WLL WELLCOM GROUP LTD 190.18M 155.17M 1 5
PAB PATRYS LTD 25.74M 482.71k 1 4
RCO ROYALCO RESOURCES LTD 10.02M 767.48k 1 3
BCN BEACON MINERALS LTD 39.79M 1 3
MGV MUSGRAVE MINERALS LTD 32.49M 15.49k 1 4
BD1 BARD1 LIFE SCIENCES LTD 20.88M 2 4
MXR MAXIMUS RESOURCES LTD 2.27M 3.72M 1 3
TON TRITON MINERALS LTD 44.50M 1 5
JXT JAXSTA LTD 35.99M 3 5
ZNO ZOONO GROUP LTD 16.30M 2.23M 1 4
VIV VIVID TECHNOLOGY LTD 14.36M 7.26M 2 6
SFC SCHAFFER CORP LTD 191.53M 226.73M 1 5
AIV ACTIVEX LTD 35.45M 2 4
TKM TREK METALS LTD 2.81M 9.07k 1 3
Z1P ZIP CO LTD 357.57M 39.27M 1 5
TIA TIAN AN AUSTRALIA LTD 51.97M 9.57M 1 4
ACF ACROW FORMWORK AND CONSTRUCT 83.52M 20.55M 1 6
NUH NUHEARA LTD 71.09M 3.96M 1 3
TLM TALISMAN MINING LTD 44.57M 60.00k 1 5
XAM XANADU MINES LTD 68.04M 1 7
COI COMET RIDGE LTD 243.84M 1 5
DNK DANAKALI LTD 204.93M 1 6
KPC KAZAKHSTAN POTASH CORP LTD 30.58M 5.00k 2 8
AYM AUSTRALIA UNITED MINING LTD 3.69M 1 3
CMM CAPRICORN METALS LTD 53.10M 186.22k 1 4
BRN BRAINCHIP HOLDINGS LTD 95.53M 830.16k 1 5
VMY VIMY RESOURCES LTD 26.65M 2 6
ETE ENTEK ENERGY LTD 3.05M 295 1 3
AGR AGUIA RESOURCES LTD 25.11M 1 6
IDT IDT AUSTRALIA LTD 37.86M 12.97M 1 5
EFE EASTERN IRON LTD 2.06M 1 4
AFG AUSTRALIAN FINANCE GROUP LTD 279.26M 616.81M 2 8
GID GI DYNAMICS INC-CDI 18.31M 120.00k 1 4
AXE ARCHER EXPLORATION LTD 15.12M 1 3
EGN ENGENCO LTD 169.23M 157.31M 1 5
OXX OCTANEX LTD 2.45M 2 7
CRB CARBINE RESOURCES LTD 4.59M 1 3
PO3 PURIFLOH LTD 119.57M 56.12k 1 3
MBK METAL BANK LTD 11.48M 1 3
CTP CENTRAL PETROLEUM LTD 102.95M 34.94M 1 6
LON LONGTABLE GROUP LTD 37.43M 8.61M 1 4
BRK BROOKSIDE ENERGY LTD 10.94M 23.23k 1 3
LBT LBT INNOVATIONS LTD 15.87M 5.70M 2 5
KGL KGL RESOURCES LTD 78.09M 149.48k 1 5
AB1 ANIMOCA BRANDS CORP LTD 72.95M 8.41M 1 4
SPZ SMART PARKING LTD 39.51M 30.69M 2 5
KPT KANGAROO ISLAND PLANTATION T 109.46M 147.00k 1 5
ALY ALCHEMY RESOURCES LTD 5.29M 1 4
TRS REJECT SHOP LTD/THE 80.94M 800.31M 2 5
MEI METEORIC RESOURCES NL 6.32M 1 4
AGJ AGRICULTURAL LAND TRUST 4.10M 1.79M 1 3
STX STRIKE ENERGY LTD 92.76M 1 5
FSA FSA GROUP LTD 142.61M 56.58M 1 4
TAR TARUGA MINERALS LTD 7.20M 1 4
MCP MCPHERSON'S LTD 137.21M 210.43M 1 5
CXU CAULDRON ENERGY LTD 5.60M 1 5
KME KIP MCGRATH EDUCATION CENTRE 35.13M 13.74M 1 5
GCY GASCOYNE RESOURCES LTD 77.31M 209.51k 1 6
KMT KOPORE METALS LTD 7.60M 1 3
CTE CRYOSITE LTD 2.11M 5.86M 1 3
AVG AUSTRALIAN VINTAGE LTD 137.55M 264.61M 1 6
AMB AMBITION GROUP LTD 4.71M 104.75M 1 4
CDH CHONGHERR INVESTMENTS LTD 651.04k 1.43M 1 4
IGN IGNITE LTD 4.75M 142.24M 1 5
LCD LATITUDE CONSOLIDATED LTD 4.95M 1 5
PPS PRAEMIUM LTD 255.32M 42.17M 1 5
SCU STEMCELL UNITED LTD 11.34M 290.68k 1 5
JAN JANISON EDUCATION GROUP LTD 50.23M 17.31M 1 6
A2B A2B AUSTRALIA LTD 245.68M 185.54M 1 6
OPT OPTHEA LTD 192.05M 1.14M 1 3
VTG VITA GROUP LTD 184.89M 684.55M 1 4
MMR MEC RESOURCES LTD 3.42M 1 4
MRM MMA OFFSHORE LTD 133.00M 200.44M 1 5
LVT LIVETILES LTD 203.79M 5.68M 1 6
CZL CONSOLIDATED ZINC LTD 24.71M 9.67k 1 4
PAN PANORAMIC RESOURCES LTD 229.96M 794.00k 1 6
EME ENERGY METALS LTD 24.11M 2 7
SAS SKY AND SPACE GLOBAL LTD 97.83M 649 2 5
IMU IMUGENE LTD 64.98M 1 3
UCM USCOM LTD 16.52M 2.17M 1 4
LPD LEPIDICO LTD 53.70M 61.17k 1 6
SRI SIPA RESOURCES LTD 12.26M 2 4
MGZ MEDIGARD LTD 2.71M 36.69k 1 5
GBE GLOBE METALS AND MINING LTD 6.99M 1 5
EEG EMPIRE ENERGY GROUP LTD 34.70M 14.07M 1 3
KGM KALNORTH GOLD MINES LTD 6.26M 1 3
BRU BURU ENERGY LTD 99.38M 17.36M 1 4
CM8 CROWD MEDIA HOLDINGS LTD 7.47M 38.54M 1 3
MEM MEMPHASYS LTD 10.19M 1 3
ADA ADACEL TECHNOLOGIES LTD 59.77M 53.06M 1 6
RRS RANGE RESOURCES LTD 8.50M 13.06M 1 3
SGQ ST GEORGE MINING LTD 40.25M 1 3
GLL GALILEE ENERGY LTD 130.89M 1 4
OSP OSPREY MEDICAL INC-CDI 53.97M 2.11M 1 6
NAM NAMOI COTTON LTD 53.93M 587.70M 1 8
NWE NORWEST ENERGY NL 10.15M 1 3
FBR FBR LTD 149.01M 1 5
ABV ADVANCED BRAKING TECHNOLOGY 5.94M 7.86M 1 5
FZR FITZROY RIVER CORP LTD 16.23M 1 3
GAP GALE PACIFIC LTD 96.64M 160.46M 1 5
ONT 1300 SMILES LTD 146.81M 38.68M 1 4
HYD HYDRIX LTD 16.06M 5.71M 2 5
VAN VANGO MINING LTD 95.51M 1 3
SNC SANDON CAPITAL INVESTMENTS L 39.72M 1 4
SVY STAVELY MINERALS LTD 32.86M 2 5
PNC PIONEER CREDIT LTD 190.21M 81.50M 2 5
MGP MANAGED ACCOUNTS HOLDINGS LT 43.03M 15.69M 1 5
ISD ISENTIA GROUP LTD 52.00M 137.14M 1 7
3PL 3P LEARNING LTD 157.45M 55.37M 1 4
QVE QV EQUITIES LTD 299.45M 1 5
OVH ONEVUE HOLDINGS LTD 154.64M 49.00M 2 6
ATR ASTRON CORP LTD-CDI 24.50M 5.01M 1 3
HNR HANNANS LTD 17.89M 1 5
SKF SKYFII LTD 45.26M 6.17M 1 5
NBL NONI B LTD 260.23M 372.36M 1 4
ADY ADMIRALTY RESOURCES NL 15.00M 1 3
HNG HGL LTD 24.47M 43.39M 1 4
CUP COUNTPLUS LTD 62.82M 104.37M 2 5
FGO FLAMINGO AI LTD 15.68M 526.76k 1 4
CUE CUE ENERGY RESOURCES LTD 45.38M 24.55M 1 9
ABA AUSWIDE BANK LTD 231.16M 129.41M 1 5
BNL BIG STAR ENERGY LTD 2.98M 74.36k 1 3
BLT BENITEC BIOPHARMA LTD 25.70M 378.00k 1 4
BLZ BLAZE INTERNATIONAL LTD 4.56M 1 3
POS POSEIDON NICKEL LTD 103.07M 1 4
INP INCENTIAPAY LTD 11.41M 106.79M 1 3
NAC NAOS EX-50 OPPORTUNITIES CO 45.18M 1 4
ECG ECARGO HOLDINGS LTD 70.75M 153.79M 1 6
TNK THINK CHILDCARE LTD 71.25M 71.43M 1 4
ANR ANATARA LIFESCIENCES LTD 22.48M 6.47k 3 4
SIO SIMONDS GROUP LTD 43.87M 605.16M 1 8
PIC PERPETUAL EQUITY INVESTMENT 363.81M 2 5
ARS ALT RESOURCES LTD 6.34M 1 4
OLV OTHERLEVELS HOLDINGS LIMITED 6.88M 5.25M 1 5
1ST 1ST GROUP LTD 6.80M 3.43M 1 4
MSI MULTISTACK INTERNATIONAL LTD 673.82k 1.39M 1 5
BBL BRISBANE BRONCOS LTD 49.02M 36.34M 1 6
TDL TBG DIAGNOSTICS LTD 9.14M 3.93M 1 5
BUB BUBS AUSTRALIA LTD 190.25M 16.91M 1 4
SLX SILEX SYSTEMS LTD 28.98M 1 5
SMX SECURITY MATTERS LTD 24.86M 6.00k 1 6
AR9 ARCHTIS LTD 14.77M 573.83k 1 5
GSM GOLDEN STATE MINING LTD 6.16M 1 6
SBW SHEKEL BRAINWEIGH LTD 30.58M 18.22M 2 5
STG STRAKER TRANSLATIONS LTD 73.63M 17.03M 1 6
GMR GOLDEN RIM RESOURCES LTD 8.94M 1 3
BOC BOUGAINVILLE COPPER LTD 68.18M 1 5
RHL RURALCO HOLDINGS LTD 317.26M 1.91B 1 6
TCN TECHNICHE LTD 7.16M 6.42M 1 4
MZI MZI RESOURCES LTD 4.75M 42.54M 1 6
AKG ACADEMIES AUSTRALASIA GROUP 50.41M 61.12M 1 5
DYL DEEP YELLOW LTD 87.47M 1 6
DXB DIMERIX LTD 13.97M 2 5
SDX SIENNA CANCER DIAGNOSTICS LT 17.38M 527.85k 1 5
WND WINDLAB LTD 62.21M 23.29M 1 5
CLI CROPLOGIC LTD 3.86M 2.07M 1 5
LRM LUSTRUM MINERALS LTD 3.05M 1 3
CP1 CANNPAL ANIMAL THERAPEUTICS 11.64M 1 6
BAH BOJUN AGRICULTURE HOLDINGS L 30.38M 74.94M 2 5
ROO ROOTS SUSTAINABLE AGRICU-CDI 6.33M 1 5
JLG JOHNS LYNG GROUP LTD 232.08M 290.36M 1 8
OGA OCEAN GROWN ABALONE LTD 26.12M 2.05M 1 4
BGT BIO-GENE TECHNOLOGY LTD 16.13M 344.45k 1 5
SEC SPHERIA EMERGING CO LTD 111.12M 1 3
PFP PROPEL FUNERAL PARTNERS LTD 274.86M 80.87M 1 5
TLX TELIX PHARMACEUTICALS LTD 164.87M 1 7
PPE PEOPLE INFRASTRUCTURE LTD 120.73M 219.39M 1 4
JAY JAYRIDE GROUP LTD 34.54M 1.91M 2 6
WHK WHITEHAWK LTD 7.21M 112.80k 3 4
TGO TRIMANTIUM GROWTHOPS LTD 84.80M 2 4
SIL SMILES INCLUSIVE LTD 18.25M 1 5
ED1 EVANS DIXON LTD 383.76M 294.89M 2 5
OMN ONEMARKET LTD 64.96M 2.16M 1 5
RZI RAIZ INVEST LTD 30.80M 2.76M 2 5
KRX KOPPAR RESOURCES LTD 5.24M 1 3
RMY RMA GLOBAL LTD 79.12M 6.14M 1 5
MMM MARLEY SPOON AG-CDI 80.07M 53.24M 1 5
B2Y BOUNTY MINING LTD 42.37M 13.77M 1 5
TMR TEMPUS RESOURCES LTD 9.49M 96k 1 3
OVN OVENTUS MEDICAL LTD 33.37M 271.32k 1 4
MHJ MICHAEL HILL INTERNATIONAL L 220.84M 575.54M 2 6
DCL DOMACOM LTD 10.65M 467.48k 1 8
1AD ADALTA LTD 31.17M 2.08M 2 6
QIP QANTM INTELLECTUAL PROPERTY 196.25M 101.72M 2 5
ARL ARDEA RESOURCES LTD 54.60M 1 3
GBR GREAT BOULDER RESOURCES LTD 10.81M 1 4
ATL APOLLO TOURISM & LEISURE LTD 198.29M 355.55M 1 4
E2M E2 METALS LTD 4.86M 39.33k 1 3
ASG AUTOSPORTS GROUP LTD 209.04M 1.69B 1 5
MFD MAYFIELD CHILDCARE LTD 30.04M 27.12M 1 4
DN8 DREAMSCAPE NETWORKS LTD 36.94M 61.57M 1 4
VP7 VELOCITY PROPERTY GROUP LTD 17.73M 17.15M 1 4
MRG MURRAY RIVER ORGANICS GROUP 56.39M 68.54M 1 4
EDC EILDON CAPITAL LTD 45.39M 5.37M 1 4
ESE ESENSE-LAB LTD-CDI 5.01M 109.62k 1 6
RTE RETECH TECHNOLOGY CO LTD 99.22M 104.20M 1 6
FPC FAT PROPHETS GLOBAL CONTRARI 37.76M 1 3
VTI VISIONEERING TECH-CDI 39.67M 3 6
TNY TINYBEANS GROUP PTY LTD 12.36M 1.73M 2 5
EHH EAGLE HEALTH HOLDINGS LTD 89.16M 89.22M 2 7
URB URB INVESTMENTS LTD 64.88M 1 6
UUV UUV AQUABOTIX LTD 8.00M 747.13k 1 4
MPW MSL SOLUTIONS LTD 33.73M 33.60M 1 6
WQG WCM GLOBAL GROWTH LTD 93.35M 1 5
WMI WAM MICROCAP LTD 174.26M 2 3
AD8 AUDINATE GROUP LTD 238.35M 19.65M 1 5
IBX IMAGION BIOSYSTEMS LTD 11.94M 339.06k 2 7
ZER ZETA RESOURCES LTD 109.39M 41.81M 1 3
ISU ISELECT LTD 174.09M 182.51M 2 6
NNW 99 WUXIAN LTD-CDI 133.36M 135.85M 2 7
ENX ENEGEX LTD 885.50k 1 3
TML TIMAH RESOURCES LTD 2.90M 4.59M 2 8
BAT BATTERY MINERALS LTD 24.50M 72.64k 1 6
FTC FINTECH CHAIN LTD 23.43M 31.34M 1 4
NCC NAOS EMERGING OPPORTUNITIES 62.90M 1 4
SHJ SHINE CORPORATE LTD 119.48M 174.39M 2 6
SPT SPLITIT PAYMENTS LTD 170.24M 1 7
ALI ARGO GLOBAL LISTED INFRASTRU 273.88M 2 5
AXP AIRXPANDERS INC-CDI 15.64M 2 6
NCL NETCCENTRIC LTD 2.10M 10.43M 1 4
QMS QMS MEDIA LTD 254.12M 204.19M 1 5
GNX GENEX POWER LTD 85.10M 8.27M 1 6
ADH ADAIRS LTD 315.99M 314.77M 1 7
PPL PUREPROFILE LTD 6.36M 51.98M 1 5
MYQ MYFIZIQ LTD 23.81M 1.95M 1 4
KSL KINA SECURITIES LTD 161.53M 176.36M 2 6
NVL NATIONAL VETERINARY CARE LTD 122.61M 84.12M 2 4
TPE TPI ENTERPRISES LTD 96.09M 39.05M 1 5
S2R S2 RESOURCES LTD 22.31M 1 4
MAI MAINSTREAM GROUP HOLDINGS LT 64.92M 38.53M 2 5
RCE RECCE PHARMACEUTICALS LTD 14.74M 1.30M 1 4
BBN BABY BUNTING GROUP LTD 268.06M 303.09M 2 6
HZR HAZER GROUP LTD 27.72M 1 5
PWH PWR HOLDINGS LTD 338.00M 51.89M 1 5
CL1 CLASS LTD 154.73M 33.98M 2 5
8VI 8VIC HOLDINGS LTD 22.30M 18.59M 1 3
AHX APIAM ANIMAL HEALTH LTD 48.43M 106.60M 1 5
WNB WELLNESS AND BEAUTY SOLUTION 13.82M 18.36M 1 3
WLD WELLARD LTD 26.56M 291.11M 1 5
TPW TEMPLE & WEBSTER GROUP LTD 128.83M 72.60M 1 4
IGL IVE GROUP LTD 325.99M 695.36M 2 7
BIQ BUILDINGIQ INC-CDI 10.22M 6.79M 1 3
VHT VOLPARA HEALTH TECHNOLOGIES 194.59M 4.46M 1 6
RBL REDBUBBLE LTD 253.59M 182.77M 2 8
LVH LIVEHIRE LTD 139.82M 1.65M 1 6
CCA CHANGE FINANCIAL LTD 4.71M 1.05M 1 4
SSG SHAVER SHOP GROUP LTD 40.17M 156.96M 1 6

*The list does not include CEOs unless they are also directors.  

Big miners all talk, no action

When it comes to the big end of town, Ms Quirk believes it’s all “grand statements” and no strategy.

She says investors want to see greater diversity of boards, but the vast majority of board heads and CEOs in the ASX200 are still men.

“When you get into big and medium businesses, there’s an absolute lack of strategy around diversity,” she said.

“I’d argue that many of the people in those roles are not looking, they’re making these motherhood statements but they’re not actually looking seriously around the women – what they need, the role they are going to do and how they are going to attract them.”

Bridgette Radebe, CEO and head of the South African Mining Development Association. Picture: Getty Images

There are some outliers though.

Taking the lead for the big guys, Fortescue Metals Group (ASX:FMG) has put its money where its mouth is.

Five of the iron ore producer’s nine board members are female and one is deputy chair. Fortescue also has two women heading the company.

Elizabeth Gaines, who joined the board in 2013, was appointed CEO last year and her right hand is Julie Shuttleworth, who serves as deputy CEO.

Still a bit of a ‘boys club’

On the junior front, Ms Quirk says while companies have greater challenges, they need to think more seriously about bolstering their female contingent.

“If you think about the mid to small cap organisations, they do tend be less than 200 employees and probably $50m of GP (gross profit) and those businesses don’t have mature people strategies,” she explained.

“There’s definitely a market perception that needs to change but those guys have got more pressing challenges … around cash flow and capitalising.

“What they’re not looking inherently at is blend and balance in terms of diversity across their businesses.”

The boss of manganese explorer Bryah Resources (ASX:BYH) says there is still a touch of that “boys club” in the industry, but it’s a matter of attracting the right talent.

“I think companies have to be conscious of that requirement to get the right competent and diverse mix across their board,” Neil Marston told Stockhead.

“A lot of companies are only three board members. If you’ve got six rather than three there’s much more chance for that diversity.”

Bryah does have women employees, but does not yet have a female on its three-director board.

A couple of small resources companies that do have women on the boards and in leadership roles are gold explorer Indiana Resources (ASX:IDA) and gold and base metals explorer Sipa Resources (ASX:SIP).

Indiana is chaired by Bronwyn Barnes, who is also on the board of Scorpion Minerals (ASX:SCN).

Meanwhile, Lynda Burnett heads up Sipa as its managing director. Sipa also has three women on its five-director board.

Cobalt explorer Accelerate Resources (ASX:AX8) also has a female managing director.

‘Aggressive alpha-male’ culture just won’t cut it

Ms Quirk says for companies to be more successful in getting more women to join the ranks, they need to clearly define what roles they want the individual women in.

“They can work with specialist organisations that look at writing and executing diversity strategies, because it’s not just go and a hire a woman simply to have a woman in the business,” she explained.

“You need to look at everything from the training of those individuals, the role structures, the HR policies within your organisation, the culture they’re coming into.

“Because if you have a very aggressive alpha-male small-cap mining culture, which is all about hunting and finding the next asset, that’s not necessarily going to appeal to each individual.

“Unless you materially change something in the environment, you will not attract and retain those individuals into those roles.”