DOCSLIB.ORG

Annual Report 2018 2018 Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2018 2018 Report SARACEN.COM.AU ABN: 52 009 215 347 ANNUAL REPORT 2018 2018 REPORT ABN: 52 009 215 347 ANNUAL CORPORATE DIRECTORY Board of Directors Auditors Mr Geoffrey Clifford (Non-Executive Chairman) BDO Audit (WA) Pty Ltd Mr Raleigh Finlayson (Managing Director) 38 Station Street, Subiaco WA 6008 Mr Martin Reed (Non-Executive Director) Telephone: +61 8 6382 4600 Dr Roric Smith (Non-Executive Director) Facsimile: +61 8 6382 4601 Ms Samantha Tough (Non-Executive Director) Solicitors Company Secretary DLA Piper, Level 31, Central Park 152 – 158 St Georges Terrace, Perth WA 6000 Mr Jeremy Ryan Telephone: +61 8 6467 6000 Registered Office and Business Address Level 11, 40 The Esplanade Bankers Perth WA 6000 Australia and New Zealand Banking Group Telephone: +61 8 6229 9100 833 Collins Street, Melbourne VIC 3008 Facsimile: +61 8 6229 9199 Telephone: +61 3 9273 5555 Website: saracen.com.au Share Registry Stock Exchange Listing Computershare Investor Services Pty Limited Listed on the Australian Securities Exchange Level 11, 172 St Georges Terrace, Perth WA 6000 (ASX Code: SAR) Telephone: 1300 850 505 Facsimile: +61 3 9473 2500 CONTENTS Managing Director’s Report 2 Review of Operations 4 Mineral Resources and Ore Reserves Statement 28 Corporate Governance Statement 31 Directors’ Report 41 Auditor’s Independence Declaration 75 Financial Statements - Consolidated Statement of Profit or Loss and Other Comprehensive Income 76 - Consolidated Statement of Financial Position 77 - Consolidated Statement of Changes In Equity 78 - Consolidated Statement of Cash Flows 79 - Notes to the Financial Statements 80 Directors’ Declaration 119 Independent Auditor’s Report 120 Shareholder Information 126 SARACEN MINERAL HOLDINGS LIMITED SARACEN I ANNUAL REPORT 2018 Cover image: Loaded truck leaving Karari 1 MANAGING DIRectoR’S REPORT Dear Fellow Shareholders, It is with great satisfaction that I present the 2018 Saracen Annual Report. Highlights include more cash flow, more growth, and more mine life with a robust seven year course now plotted for our business. Most importantly our safety record continues to improve with the LTIFR dropping to 1.0 over the 12 months, well below the industry average. In addition, Saracen’s strong environmental track record continued with no significant environmental breaches across our operations. Gold production for FY2018 exceeded all previous records with over 316,000oz produced from our two operations, Carosue Dam and Thunderbox. This output also exceeded market guidance and was delivered at a low All-In-Sustaining-Cost (“AISC”) of $1,139/oz. Cash and equivalents were over $118m at year end, despite a $71.8m investment in growth capital and exploration during the year. In addition, a further 73,532oz of gold was contained in closing stockpiles at year end, a 29% increase on last year. We continue to develop new ore sources with the commencement of the ‘C’ zone open pit at Thunderbox and the high grade Kailis open pit, 80km south of the Thunderbox Operation. In addition, two portals were cut at Thunderbox to facilitate the establishment of underground drilling platforms for resource delineation. This year also featured the publication of our inaugural Sustainability Report. The Report is an acknowledgement of our responsibilities to all of our stakeholders, and the need to operate in a manner that fosters connections with our communities and the environment and promote their well-being and longevity. An integral part of our sustainability commitment is our engagement with the local indigenous communities in the towns of Leonora and Kalgoorlie. Shooting Stars is an educational programme that uses netball and other tools to increase school attendance rates for young Aboriginal and Torres Strait Islander girls living in WA’s remote communities and regional towns. We are embracing an opportunity to make a difference by committing $150,000 over three years to kick-start this program in Leonora. Following outstanding success with the drill bit, we are confident in the longevity of our business. In FY2018 we unveiled our first seven year outlook for group gold production. This is underpinned by the consistent and persistent performance of operations, with production guidance met for the last five consecutive years. We recently increased annual gold production guidance for FY2019 to 325-345,000oz. We are now focused on delivering our next chapter of growth, the “flight to 400”. Investments include a $60m exploration budget across the Saracen group for FY2019. At our Thunderbox Operations $13m will be invested in the development of a hanging wall drill drive, drill platforms and associated drilling to delineate the first stage of the Thunderbox underground mine. A further $17m will be invested in the development of stage 2 of the high grade Kailis open pit. The Carosue Dam Operations will receive investments of $23m in the construction of a paste fill plant adjacent to the Karari and Whirling Dervish underground mines, the commencement of drilling along the “corridor of riches”, the construction of a $7m sealed aerodrome, the expansion of the accommodation village, the execution of a four year underground mining contract with Byrnecut, and the approval for a feasibility study into the potential expansion of the Carosue Dam processing plant. The exciting joint venture with Anglo Gold Ashanti also continues to deliver positive news flow with deeper drilling programs in the Butcher Well district. I would like to personally thank all of our dedicated employees and contractors for their contributions to our relentless push for sustainable growth and value creation over the last year. Without the engagement and backing of all of our stakeholders, these efforts would have counted for little. So as we embark on our next exciting chapter of growth, it is of paramount importance that we have the courage to keep our eyes on the prize, and ensure that we deliver our stakeholders safe and prosperous outcomes. ANNUAL REPORT 2018 I RALEIGH FINLAYSON Managing Director SARACEN MINERAL HOLDINGS LIMITED SARACEN 2 “ With a 300,000ozpa production profile now firmly established, growing cash flow and mine life, no debt and a strong executive team, Saracen has an excellent platform from which to capitalise on further growth opportunities as they arise.” ANNUAL REPORT 2018 I SARACEN MINERAL HOLDINGS LIMITED SARACEN photo: Excavator at Thunderbox 3 REVIEW OF OPERATIONS OVERVIEW Saracen Minerals Holdings Limited is an ASX-listed gold company (ASX:SAR) producing ~ 320,000 ounces per annum from its two operations in Western Australia: 1. Carosue Dam approximately 120km north-east of Kalgoorlie, and 2. Thunderbox approximately 45km south of Leinster. The Company’s Head Office is in Perth, Western Australia. Carosue Dam Operations Saracen Mineral Holdings Limited owns 100% of the Carosue Dam Operations (“CDO”) through its wholly owned subsidiary Saracen Gold Mines Pty Ltd. CDO operations include the Carosue Dam Project (comprising the Karari and Whirling Dervish gold deposits), the Porphyry Project (comprising the Porphyry, Million Dollar, Enterprise, and Wallbrook deposits), and the Deep South Project (comprising of the Deep South and Safari Bore deposits). Saracen acquired the CDO assets in 2006 and commenced commercial gold production in 2010. Since then, Saracen has produced over 1.2 million ounces of gold from open pits and underground mines at CDO. In April 2017, Saracen began the development of its 15th mine in the area with the commencement of the Whirling Dervish underground mine. Saracen’s CDO tenement holdings are located in one of the world’s most prospective gold provinces, incorporating the Laverton and Keith Kilkenny Tectonic Zones, north-east of Kalgoorlie, Western Australia. This province is home to several world class gold mines and deposits including Sunrise Dam, Granny Smith, and Wallaby. In excess of 23 million ounces of gold in resources have been found and/or brought into production in this province. Saracen is building a long-term strategic infrastructure and resource position in this area. Supporting the mines, CDO comprises a processing plant, two accommodation villages (with the ability to support 400 people), various water and power infrastructure facilities and is located 120km north north-east of Kalgoorlie. The CDO processing plant was originally commissioned in November 2000 and has a nameplate capacity of 2.4Mtpa. Thunderbox Operations Saracen Mineral Holdings Limited owns 100% of the Thunderbox Operations (“TBO”) through its wholly owned subsidiary Saracen Metals Pty Ltd. Saracen acquired the TBO assets in 2014 and commenced commercial gold production in 2016. TBO operations include the Thunderbox Project (comprising the Thunderbox, Rainbow and Mangilla gold deposits), the Kailis Open Pit, the Bannockburn Project (comprising the Bannockburn and North Well gold deposits) and the Waterloo Project (comprising the Waterloo and Amorac nickel deposits). In October 2017, Saracen poured the one millionth ounce of gold produced from the Thunderbox Operations and in June 2018, with the cutting of the portal and establishment of an exploration drill drive, began development of the potential Thunderbox underground mine. TBO is located in the highly prospective Yandal and the Agnew-Wiluna Belts in the North Eastern Goldfields of Western Australia, centred on the Thunderbox Open Pit and CIL gold treatment plant located 45km south of the town of Leinster in Western Australia, immediately adjacent to the sealed Goldfields Highway. The Thunderbox
Load more

Recommended publications
  • Mineral Facilities of Asia and the Pacific," 2007 (Open-File Report 2010-1254)
    Table1.—Attribute data for the map "Mineral Facilities of Asia and the Pacific," 2007 (Open-File Report 2010-1254). [The United States Geological Survey (USGS) surveys international mineral industries to generate statistics on the global production, distribution, and resources of industrial minerals. This directory highlights the economically significant mineral facilities of Asia and the Pacific. Distribution of these facilities is shown on the accompanying map. Each record represents one commodity and one facility type for a single location. Facility types include mines, oil and gas fields, and processing plants such as refineries, smelters, and mills. Facility identification numbers (“Position”) are ordered alphabetically by country, followed by commodity, and then by capacity (descending). The “Year” field establishes the year for which the data were reported in Minerals Yearbook, Volume III – Area Reports: Mineral Industries of Asia and the Pacific. In the “DMS Latitiude” and “DMS Longitude” fields, coordinates are provided in degree-minute-second (DMS) format; “DD Latitude” and “DD Longitude” provide coordinates in decimal degrees (DD). Data were converted from DMS to DD. Coordinates reflect the most precise data available. Where necessary, coordinates are estimated using the nearest city or other administrative district.“Status” indicates the most recent operating status of the facility. Closed facilities are excluded from this report. In the “Notes” field, combined annual capacity represents the total of more facilities, plus additional
    [Show full text]
  • Statistics Digest 2006-07
    WESTERN AUSTRALIAN MINERAL AND PETROLEUM STATISTICS DIGEST 2006–07 This publication is available on our website www.doir.wa.gov.au Head Office: Mineral House 100 Plain Street East Perth WA 6004 Telephone: +61 8 9222 3333 Facsimile: +61 8 9222 3568 Email: [email protected] For specific enquiries, please email: [email protected] DoIRAUG07_1259 Disclaimer Information provided in this Digest is made available without charge, as a public service, in good faith. The information provided is derived from sources believed to be reliable and accurate at the time of publication. However, use of the information in the Digest is at your own risk. The Digest is provided solely on the basis that users will be responsible for making their own assessment of the information provided therein and users are advised to verify all representations, statements and information for decisions that concern the conduct of business that involves monetary or operational consequences. Each user waives and releases the Department of Industry and Resources and the State of Western Australia and its servants to the full extent permitted by law from all and any claims relating to the use of the material in the Digest. In no event shall the Department of Industry and Resources or the State of Western Australia be liable for any incidental or consequential damages arising from any use or reliance on any material in the Digest. Copyright © 2007 Copyright in this document is reserved to the State of Western Australia. Reproduction except in accordance with copyright law is prohibited. CONTENTS FOREWORD 1 1.
    [Show full text]
  • The Mineral Industry of Australia in 2012
    2012 Minerals Yearbook AUSTRALIA U.S. Department of the Interior February 2015 U.S. Geological Survey THE MINERAL INDUSTRY OF AUSTRALIA By Pui-Kwan Tse Australia was subject to volatile weather in recent years Government Policies and Programs that included heavy rains and droughts. The inclement weather conditions affected companies’ abilities to expand The powers of Australia’s Commonwealth Government are their activities, such as port, rail, and road construction and defined in the Australian Constitution; powers not defined in the repair, as well as to mine, process, manufacture, and transport Constitution belong to the States and Territories. Except for the their materials. Slow growth in the economies of the Western Australian Capital Territory (that is, the capital city of Canberra developed countries in 2012 affected economic growth and its environs), all Australian States and Territories have negatively in many counties of the Asia and the Pacific region. identified mineral resources and established mineral industries. China, which was a destination point for many Australian Each State has a mining act and mining regulations that mineral exports, continued to grow its economy in 2012, regulate the ownership of minerals and the operation of mining although the rate of growth was slower than in previous years. activities in that State. The States have other laws that deal with As a result, Australia’s gross domestic product (GDP) increased occupational health and safety, environment, and planning. at a rate of 3.1% during 2012, which was higher than the All minerals in the land are reserved to the Crown; however, 2.3% rate of growth recorded in 2011.
    [Show full text]
  • Government of Western Australia Department of Environment Regulation
    Government of Western Australia Department of Environment Regulation NOTIFICATION OF APPLICATIONS RECEIVED FOR WORKS APPROVALS, LICENCES AND AMENDMENTS AND AVAILABLE FOR PUBLIC SUBMISSIONS AND/OR REGISTRATIONS OF INTEREST APPLICATIONS FOR WORKS APPROVALS AND NEW LICENCES Processing or bene ciation of metallic or non metallic ore: BHP Billiton Iron Ore Pty Ltd, Wilson St, PORT HEDLAND (W5792/2015/1) [*1] Sewage facility: Roy Hill Station Pty Ltd, Lot 2 on Plan 144017, NEWMAN (W5803/2015/1) [*1] Mine dewatering: Cliffs Asia Paci c Iron Ore Pty Ltd (Mt Jackson), M77/994, MT JACKSON (L8873/2015/1) [*3] Mine dewatering: Brightsun Enterprises Pty Ltd (Radio Gold Mine), M77/63, BULLFINCH (W5793/2015/1) [*3] Processing or bene ciation of metallic or non metallic ore: Saracen Metals (Thunderbox Gold Mine), L36/155, LEONORA, (W5794/2015/1) [*3] Processing or bene ciation of metallic or non metallic ore: St Ives Gold Mining Company Pty Ltd, M15/1565-1570, Kambalda, (W5795/2015/1) [*3] Sewage Facility: Polaris Metals Pty Ltd (J4), L77/274, SOUTHERN CROSS (W5798/2015/1) [*3] Metal Coating: Nagrom Technologies Pty Ltd (Line-X Australia Headquarters), Brant Road, KELMSCOTT (W5801/2015/1) [*4] Livestock saleyard or holding pen: Wellard Animal Production Pty Ltd (Beaufort River Meats), Leggoe Rd, BEAUFORT RIVER (W5788/2015/1) [*5] Class II or III putrescible land ll site: Opal Vale Pty Ltd (Salt Valley Road Class II Land ll), Chitty Rd, HODDY’S WELL (W5800/2015/1) [*4] APPLICATIONS FOR LICENCE RENEWALS Liquid waste facility: Tox Free Australia Pty Ltd (Karratha), Lot 126 on Plan 183297, COOYA POOYA (L8332/2009/3) [*1] Class II or III putrescible land ll site: City of Cockburn (Henderson Waste Recovery Park), Lot 202 on Plan 60443, HENDERSON (L6965/1997/14) [*4] Chemical manufacturing: Upper Great Southern Regional Renewable Energy Group Pty Ltd (CBH Facility), Marconi St, PINGELLY (L8416/2010/2) [*4] Submissions may be forwarded to the Department of Environment Regulation Regional Of ce (address speci ed below) within 21 days of this advertisement.
    [Show full text]
  • The Mineral Industry of Australia in 2007
    2007 Minerals Yearbook AUSTRALIA U.S. Department of the Interior December 2009 U.S. Geological Survey THE MINERAL INDUS T RY OF AUS T RALIA By Pui-Kwan Tse Australia was one of the world’s leading mineral producing Constitution belong to the States and Territories. All powers that countries and ranked among the top 10 countries in the world in relate to mineral resources and their production belong to the the production of bauxite, coal, cobalt, copper, gem and near- States and Territories. Except for the Australian Capital Territory gem diamond, gold, iron ore, lithium, manganese ore, tantalum, (that is, the capital city Canberra and its environs), all Australian and uranium. Reflecting an increase in world demand for States and Territories have identified mineral resources and mineral commodities, the Australian economy grew at a rate of established mineral industries. 3.9% during 2007. Owing to anticipated higher prices of mineral The Mineral Council of Australia (MCA) urged the Federal commodities in the world markets, the Australian economy Government to establish a nationwide project approval process continued expanding and, as a result, surplus productive that would be consistent across all jurisdictions to reduce capacity was expected in the future. Owing to an increase in regulatory burdens that were affecting the mineral sector. In domestic demand and a tightening in the labor market, the addition, 10 principal statutes govern occupational health and consumer price index increased by 4.2% in 2007. safety in Australia, and, according to the MCA, this multilayer Australia’s total mineral exploration spending, excluding regulatory regime imposes a significant administrative burden petroleum, was $1,751.9 million (A$2,061.1 million) in 2007.
    [Show full text]
  • Questions and Speeches ______
    WESTERN AUSTRALIA __________ INDEX TO PARLIAMENTARY DEBATES (HANSARD) LEGISLATIVE COUNCIL and LEGISLATIVE ASSEMBLY __________ INDEX TO QUESTIONS AND SPEECHES __________ THIRTY-NINTH PARLIAMENT FIRST SESSION 11 April 2013 to 12 December 2013 __________ 62° ELIZABETH II 2013 INDEX TO QUESTIONS AND SPEECHES ABETZ, MR PETER, BAgriSci (Hons), (Southern River) (Lib) Address-in-Reply — motion, 135 Aboriginal education, 138 drugs, 138 Judaeo–Christian values, 136 post-election thankyous, 135 prostitution, 137 sport facilities, 138 transport, 137 Agriculture and Food, table grapes, importation — motion, 2939 Appropriation (Consolidated Account) Capital 2013–14 Bill 2013 — second reading — cognate debate, 3582 457 visa holders, school fees, 3584 European visit, 3582 gay marriage, 3585 government initiatives and projects, 3584 roads and agriculture, 3585 solar feed-in tariff scheme, 3583 Appropriation (Consolidated Account) Recurrent 2013–14 Bill 2013 — second reading — cognate debate, 3582 see also “Appropriation (Consolidated Account) Capital 2013–14 Bill 2013” Associations Incorporation Act, g., 341 Attorney General Classification (Publications, Films and Computer Games) Enforcement Act, g., 5486 Criminal Property Confiscation Act, g., 1485 Battle of El Alamein, gift of gratitude, s., 1532 Corrective Services Banksia Hill Detention Centre, 2913, 5517 Hakea Prison, asbestos, 1952 Wandoo Reintegration Facility, 6019 Criminal Code Amendment Bill (No. 2) 2013 — second reading, 4598 Criminal Investigation (Identifying People) Amendment Bill 2013 — second reading, 2638 Delegated Legislation, Joint Standing Committee on sixty-third report, “Information Report in relation to: Children’s Court (Fees) Amendment Regulations (No. 2) 2012, Civil Judgments Enforcement Amendment Regulations 2012, Coroners Amendment Regulations 2012, District Court (Fees) Amendment Regulations (No. 3) 2012, Evidence (Video and Audio Links Fees and Expenses) Amendment Regulations (No.
    [Show full text]
  • Index to Parliamentary Debates (Hansard)
    WESTERN AUSTRALIA __________ INDEX TO PARLIAMENTARY DEBATES (HANSARD) LEGISLATIVE COUNCIL and LEGISLATIVE ASSEMBLY __________ THIRTY-NINTH PARLIAMENT FIRST SESSION 11 April to 12 December 2013 __________ 62° ELIZABETH II __________ 2013 INDEX TO SUBJECTS – A – AAA CREDIT RATING see “Treasury and Finance” ABORIGINAL AFFAIRS Assembly Aboriginal arts centres, 7136, 7139 Aboriginal employment strategy 2011–2015, 2743–2744, 6356 Aboriginal Heritage Act 1972, 2984–2985, 3005 Aboriginal Lands Trust Noongar trust, 2974–2975 pastoral leases, 6801 cabinet subcommittee, ms., 82 Closing the Gap agreement, 1114, 1648, 1779, 5912; notice of motion, 1647; motion, 1818 department name change, 1257 Department of Aboriginal Affairs, artworks purchase, 7141 Derbarl Yerrigan Health Services, fortieth anniversary, s., 6891 Derby, short-stay accommodation, ms., 1761 Gordon inquiry, action plan, 3779–3780 John Pat, thirtieth anniversary of death — notice of motion, 4574; motion, 4654 Kununga Aboriginal Kindergarten, Hilton, p., 4154 Midgegooroo, execution anniversary, p., 948 Nglang Boodja Council Aboriginal Corporation, s., 5515 South West Aboriginal Land and Sea Council, native title claims, ms., 2605 suicides and baton of life, p., 5367 Taylor, Ben, AM, tribute, s., 1111 Council Aboriginal Cultural Material Committee, specialist anthropologist, 3330, 3512 Aboriginal Heritage Act 1972 amendments, 3818 sites assessment, 1567 Blue Hills, 5132 Burrup Peninsula, 695–696, 4134 Helena Aurora Range, 6137–6138 Holcim (Australia) Pty Ltd, 4136 Lake Yindarlgooda, 4137–4138
    [Show full text]
  • Strong Project Portfolio
    Strong Project Portfolio World-Class Gold Address For personal use only November 2016 Important Information Purpose of presentation: This presentation has been prepared by Great Boulder Resources Limited (ACN 611 695 955) (GBR). It is intended for the sole purpose of providing high-level background information on GBR, its projects and its proposed operations. This presentation is not investment advice and should not be relied upon to make any investment decision. Nature of presentation: This presentation is not a prospectus, product disclosure statement or other investment disclosure document, and the level of disclosure in this presentation is less that such disclosure documents. It does not purport to contain all of the information that a prospective investor may require to make an evaluation of GBR or its business activities and nothing in this presentation is, or is intended to be, a recommendation to invest in GBR. GBR does not purport to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this presentation. No offer: This presentation does not make or contain any offer of securities or any other offer to invest in GBR to any person. Potential investors should consider GBR’s Prospectus dated 12 September 2016 (Prospectus), available on its website, www.greatboulder.com.au and GBR’s announcements to ASX. Professional advice: Recipients of this presentation should consider seeking appropriate professional financial, taxation and legal advice in reviewing the presentation and all other information with respect to GBR and evaluating its business, financial performance and operations. Forward-looking statements: This presentation contains forward-looking statements which may be predictive in nature and incorporate an element of uncertainty or risk, such as ‘intends’, ‘may’, ‘could’, ‘believes’, ‘estimates’, ‘targets’ or ‘expects’.
    [Show full text]
  • Strong Project Portfolio World-Class Gold Address
    Strong Project Portfolio World-Class Gold Address November 2016 Important Information Purpose of presentation: This presentation has been prepared by Great Boulder Resources Limited (ACN 611 695 955) (GBR). It is intended for the sole purpose of providing high-level background information on GBR, its projects and its proposed operations. This presentation is not investment advice and should not be relied upon to make any investment decision. Nature of presentation: This presentation is not a prospectus, product disclosure statement or other investment disclosure document, and the level of disclosure in this presentation is less that such disclosure documents. It does not purport to contain all of the information that a prospective investor may require to make an evaluation of GBR or its business activities and nothing in this presentation is, or is intended to be, a recommendation to invest in GBR. GBR does not purport to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this presentation. No offer: This presentation does not make or contain any offer of securities or any other offer to invest in GBR to any person. Potential investors should consider GBR’s Prospectus dated 12 September 2016 (Prospectus), available on its website, www.greatboulder.com.au and GBR’s announcements to ASX. Professional advice: Recipients of this presentation should consider seeking appropriate professional financial, taxation and legal advice in reviewing the presentation and all other information with respect to GBR and evaluating its business, financial performance and operations. Forward-looking statements: This presentation contains forward-looking statements which may be predictive in nature and incorporate an element of uncertainty or risk, such as ‘intends’, ‘may’, ‘could’, ‘believes’, ‘estimates’, ‘targets’ or ‘expects’.
    [Show full text]
  • Western Australian Mineral and Petroleum Statistics Digest 2015-16
    STATISTICS DIGEST 2015–16 WESTERN AUSTRALIAN MINERAL AND PETROLEUM Government of Western Australia Department of Mines and Petroleum Disclaimer Information provided in this digest is made available without charge, as a public service, in good faith. The information provided is derived from sources believed to be reliable and accurate at the time of publication. However, use of the information in the digest is at your own risk. The digest is provided solely on the basis that users will be responsible for making their own assessment of the information provided therein and users are advised to verify all representations, statements and information for decisions that concern the conduct of business that involves monetary or operational consequences. Each user waives and releases the Department of Mines and Petroleum and the State of Western Australia and its servants to the full extent permitted by law from all and any claims relating to the use of the material in the digest. In no event shall the Department of Mines and Petroleum or the State of Western Australia be liable for any incidental or consequential damages arising from any use or reliance on any material in this digest. Prices and values provided are in Australian dollars, unless otherwise stated. There may be some discrepancies in percentages owing to the rounding of values. Copyright © 2016 Copyright in this document is reserved to the State of Western Australia. Reproduction except in accordance with copyright law is prohibited. Cover photo: Courtesy Rio Tinto Iron Ore *RYHUQPHQWRI:HVWHUQ$XVWUDOLD 'HSDUWPHQWRI0LQHVDQG3HWUROHXP *RYHUQPHQWRI:HVWHUQ$XVWUDOLD 'HSDUWPHQWRI0LQHVDQG3HWUROHXP (QYLURQPHQW CONTENTS FOREWORD ................................................................................................................................. 3 OVERVIEW ..................................................................................................................................
    [Show full text]
  • Prospectus 2016 Initial Public Offering
    PROSPECTUS 2016 INITIAL PUBLIC OFFERING Share Offer Lead Manager For the offer of 25,000,000 Shares at $0.20 per Share to raise $5,000,000 (before costs), with provision to accept oversubscriptions of up to a further 10,000,000 Shares to raise up to an additional $2,000,000 (before costs) (Share Offer). Please refer to Section Wentworth Global 2.1 for further details. Capital Finance Pty Ltd Opening and Closing Dates AFS Representative Number The Offers open on Monday, 19 000 418 398 September 2016 and close at 5:00pm Corporate Authorised Representative (WST) on Monday, 10 October 2016. of Wentworth Global Securities Pty Ltd Proposed ASX Code (AFSL No. 422 477) GBR Important Information This Prospectus and any accompanying Application Form contain important information and should be read in their entirety. If you have any questions about the Offers or this Prospectus, you should speak to your professional adviser. The Securities offered by this Prospectus should be considered as a highly speculative investment. Great Boulder Resources Limited ACN 611 695 955 Corporate Directory Important Notice Directors Lead Manager Offers Gregory Clifton Hall Wentworth Global Capital Finance Pty Ltd This Prospectus is for: Non-Executive Chairman 3/66 Hunter Street § Share Offer - an offer of up to 25,000,000 Shares at $0.20 per Share to Stefan Kevin Murphy Sydney, New South Wales 2000 raise $5,000,000 (before costs), with provision to accept oversubscriptions of Managing Director up to a further 10,000,000 Shares to raise up to an additional $2,000,000 Telephone: +61 2 9119 6030 (before costs); and Murray Edward Black Facsimile: +61 2 9119 6038 Non-Executive Director § Lead Manager Offer - an offer of 1,500,000 Lead Manager Options to the AFS Representative Number Lead Manager (or its nominees).
    [Show full text]
  • For Personal Use Only Use Personal For
    SARACEN.COM.AU ABN: 52 009 215 347 ANNUAL REPORT For personal use only 2019 2019 REPORT ABN: 52 009 215 347 ANNUAL CORPORATE DIRECTORY Board of Directors Auditors Mr Anthony Kiernan Non-Executive Chairman BDO Audit (WA) Pty Ltd Mr Raleigh Finlayson Managing Director 38 Station Street Subiaco WA 6008 Mr Martin Reed Non-Executive Director Mr John Richards Non-Executive Director Telephone: +61 8 6382 4600 Dr Roric Smith Non-Executive Director Solicitors Ms Samantha Tough Non-Executive Director DLA Piper, Level 31, Central Park 152 - 158 St Georges Terrace, Perth WA 6000 Company Secretary Telephone: +61 8 6467 6000 Mr Jeremy Ryan Registered Office and Business Address Bankers Level 11, 40 The Esplanade Australia and New Zealand Banking Group Perth WA 6000 833 Collins Street, Docklands VIC 3008 Telephone: +61 8 6229 9100 Telephone: +61 3 9273 5555 Facsimile: +61 8 6229 9199 Share Registry Website: www.saracen.com.au Computershare Investor Services Pty Limited Level 11, 172 St Georges Terrace, Perth WA 6000 Stock Exchange Listing Telephone: 1300 850 505 Listed on the Australian Securities Exchange (ASX Code: SAR) For personal use only CONTENTS Managing Director’s Report 2 Review of Operations 4 Health Safety & Environment 6 Production & Costs 8 Processing 12 Exploration 13 Financial Result 23 Cash, Investments Debt & Hedging 24 Production and Growth 25 People 27 Community 28 Mineral Resources and Ore Reserves Statement 30 Financial Statements 34 - Consolidated Statement of Profit or Loss and Other Comprehensive Income 73 - Consolidated Statement of Financial Position 74 - Consolidated Statement of Changes In Equity 75 - Consolidated Statement of Cash Flows 76 - Notes to the Financial Statements 77 Shareholder Information 110 For personal use only 1 MANAGING DIRectoR’S REPORT Dear Fellow Shareholders, It is with great pride that I present the 2019 Saracen Annual Report.
    [Show full text]