ANNUAL RE·PORT 2013 Astra Resources Plc (CN: 0762(218) and Controlled Entities Financial Report for the Period Ended on 30 June 2013
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Astra Resources ANNUAL RE·PORT 2013 Astra Resources PlC (CN: 0762(218) and Controlled Entities Financial Report for the Period Ended on 30 June 2013 CONTENTS MESSAGE FROM ASTRA'S CEO , , 3 MESSAGE FROM ASTRA'S MANAGING DIRECTOR , 4 THE ASTRA WAY ...........................•..... , ,.., , , , , 5 OUR V1SION •.••••••.••.•.•.,•.•.••••..•..••.••••.•.•.•..,..•.•.•,..•.•.•.•••••,.••.•.•,........•....••..•.•....•....•.•..••.•.....•••••••.• ,.••.•.•••.•.•••....,.••...•..••..•.•...•..• ,.••.••.•........•....•.••••.................••.• 5 OUR MISSION •....................•................................................................•.............•................................•.....•.•.••.•.......•.•.•.•..•.••.•....•.•.• ,•.....•....•...•.•...•....•.•.• ,.•..•.. 5 OUR GOALS AND VALUES .•.•••••.•,.•••••.•,.••.•.••••....••.•....••....•.•..•.•...•••••.••.•.•...•.•....••.••••..• ,....•.••...•. ,•••••..•,.•.•..•..........•.•................••.................•..................•........ 5 HIGHLIGHTS & PRIORITIES 6 2013 HI GHLrGHTS ............................................•.............•..•.••..................•...........•...•..............•.............•..•.••.••.•.• ,•.•••,...•..•••••.••••.•••.,.•.•.•.•.•.••..•....••.••.••.•.•.••.• 6 2014 PRIORlTIES ,..,.....•.••.•..••.••••.•.•...••..•.••.•.••.•....•.••.....•.••.•.....••.• ,.•,.•,..••.•.........•.•.••.•.......•..••.••..•.•......•.••.•.•.••••..•.....•.•..•.••.•••••••........•.......•...............•.••.•... 8 BUSINESS STRATEGY ..........................................................................................................................•......... , 9 DISRUPTING THE STATUS QUO ....••......•....•.•..•.•.• ,...•. ,•.....•................•..•..•.......•..••• ,.•.............•..•.••................•.•...•.••••.....•.••.•.••••.•....••••••.•.•••.......•.••.• ,••.•.••.•••.9 ASTRA'S BUSINESS STRATEGy, •..•.•.••••.••.•..••.•.••..•.•••,.••.•....••....•••••....•..•.......••.•..•....•..•.••.••.•..•.....•..•.••.••.• ,•..........•.....••.•..........•.••.••..•.•.•.••........•....••....•...•• 10 DEMAND TARGETING ........•...................•...............................................•...................................•.•..•.............••..............••....••.......•..•.. ,.•••......• :•..•..•.•....••.•.•. 10 D1VERSIF1CA TION •.•..•.•. ,.•.••.•.,.••...•••.•.••.•.•.•.••••.•.,••••....••.•,.•..•..•....•..•..• ,.••.••.•.•..•.••.•.••....••.•.••..•.••..•.•.•.•.• ' .••••.••.•...•••.••••.••.••..••••••.•.•••••...•.••••.•..•.•...•.•..•......•• 10 INTEGRATION ...............•....••..•.••........................•..•.•.....•.....•..•.•........•..•.•..••.......•.•..•.••.•..•.....•.•.................•.••.•..•.•..•..•.••••..• ,•..••.••.•..•..•.•...••. ,.••.•.•..•. ,••••••,.•.•• 11 RISK M1TIGA TION •••.••.•••.•.••••.•.•.•..••..•.•,....•.•..•.•. ,.•.••.•.••.••.••.•......••...•..•.•.••..••...••.....••••.•........•••.•..• ,.•,•...•.....•.••.•.•••••...•.••..•..••.••• ,••..•.•..•...••........•..•..••.......... 11 OUR COMPANy , ,.......................................................................................•....................... 12 THE ASTRA BOARD OF DIRECTORS •........•.............•.•...........•.•..........................................•.............•..•.••.•.....•.•.••.••.••.••.•.••.••.••••.•••.•.•.•.••..••.•..••.•.••.••.••.•.•• 12 ABOUT ASTRA .••.,.••..•,•.•••.••..•.••.••.••.•....•...•..•..•....•.••.....•.•..•..•..•.••.....•.• ,.•,.•............•••.........•.••.•.•.•.•.•...•..•.••.• ,.•.•,•...••.••.....•....••..•.•••••..•....•••.•••....•................. 14 ASTRA'S BUSINESS STRUCTURE ..•.•....••.•.....•..•.••.••.••.•....•••.•.••.••••...•..•••••..••.•...•...•... ,.•.•...••••..•.•.•....•.•....•••..••.•.......•.......•..•.•.•.......•.•••...••...••.•....••.••.•..••..... 15 OPERATIONAL REVIEW ,......................................•............................................................................................. 16 INDUSTRIALANDENERGY TECHNOLOGIES 19 T -STEEL ....•..................................................................................•..............•............•...........•..•.........••.....•.•.•...•.••.•.•..•.....••.•.•..•.....•.••.•...•....•..•.•..••.• ',..•....•. , 19 CLEAN COAL TECHNOLOGIES ..••••••....,•..•..•.••.•.••..•..• ,••.....•.••.•..•.•...•.•. ,••....•..•.. ,.•.••....•..• ,.•.••.•.....•.••.••..•.••..•••.•.•.•...•..•....••.•...•.•.••.••.••.....•...•..••.......•..•.••.•.•.• 20 COREX STEEL ...•...............•............................•........................................................•..................................•.•..•.•••.•.•...•.•.••.•..•.••..•..•.••.• ,.•.••.•.•.•.•.••..•,..•.•.•...• 21 CARBO N EFFICIENT OPERA TION5. •....•..•..•.••...•.•.•.••.......•.••.••....•...•.. ,.•.•.,.•.•..•..•..•...•.. ,••.•......••.••.••.•••.•......••.•..•..••••.•.•..••••.......••.••.••....•.•..• ,.••.•.....••.•....•.•.• 22 GREEN GUM ...•.•..••.•...•.....••.•....••.••..•....• ,.•....•.••..•........•.• ,•......•.. ,.•••••.......••.•....•..•.••.•..• ,.••...•.•.••.•..•.•..•..•.......•.•.............•.............•.••........................•............ 22 CARBO NY ••••.•.•••••••.••••••••••••••••.•.••.••.••...:..••.....•.••••.....•••..•.•......•.•.•••.•......•.•.•.••..•..•.•..•••...•...••.••.•..•.•.•••..••••••••••••..••.•.•••••..•••.•.••••••••.••••..••,••,•••••••.•.•••••••..•..•.•••23 GREEN DIESEL ...•..•••.•.••.•.•..•..•.••.••.••...•••.•..•.• ,....•..••.•.••.•.••..•.•••...••.••.•..••••.•.••.......••.•..••.•..•.••.•.••••.•••.•...••..•••••.•..•....................•..••..............••.............••..•.....• 24 THE HYDROFOTON EXTERNALLY ACTIVE DSSC SOLAR CELL .................••.•....••.••..•........................................•..•.•.....•..........•..•.••••..•..• ,.•.••.••.....••..•.• 24 MINERAL EXPLORATION OPERATIONS , 26 IRON ORE INDIA .•..••...•.• ,•.,....•..•..• ,.••......•••••.••.•.••....••.•.•.•••.•..••.•..• ,..,.•.•.•.•••.......••.•..•.•...••••.•.•...•.•..•••..•.••...•.•.•..•.•.•.•.•...•.•..•.•.....••.•...•.• ,..•...•..• :••.•........•......• 26 IRON ORE SANDS THE PHIL!PPINES ..•..........•.•..•.....•.•........••.•.........................•.............•............•••.................................•..........•..••.........•..••....••....•.•.•..•.• 27 THERMAL COAL N1GERlA .•................•..•..........••.....•.....••..•..............•.•......•...••....••.•..•.••......••....•.•.••...••...•.•.•.•.•.•...•..• ,.•.••.•....•..••.••.••.•• ,•.••.•.•.•.•.••.•.••••.•.•.•.• 28 GOLD CAMBODIA ..••.................•..............•....•..•.••.•...........•....•...........•.............•.••.•..•.•...•...................................•..........•.••.•..........••.••....••......••.•.••.•....•••••.•.. 28 DIRECTORS' REPORT ...........•...."..,...................•............... , ,....................................................•............... , , 30 1. PRINCIPAL ACTIVITIES .........................................•.•...........•..............................•.••..........•..............•....•..•.•......•..•. ,.•.••.•....•••••.••.••.•..••.•.•.•.•..•.•••••.•.•.••.•.• 30 2. BUSINESS REVIEW ,•...•..•.••...••..•.• ,•••..•..•..••.•.....•.•.•.•.••••.••.•..•..•.•...•.•..•.••.••.•.....•..••.•.•...•...•.••..• ,•.•...............................................................•..........•..•••.... 30 3. RESEARCH AND DEVELOPMENT .•.•..•..•....••.•.....•....•..•..•..•.....•.......•.......••.••.........••....•........•.......•........•.••.•..•....••.•...••..• ,.•,.•.••.•,.••••••••..••.••..••.•.•,.•.•••.•.•.• 32 4. FINANCIAL INSTRUMENTS ...•..••..........•.....................•..•..•..•..................•......................................•••......••.•..•••........•.•. ,••.••.•..•.•...•.•.•.•...••.•..•.••.......••.•...• 33 5. DIVIDENDS •.•......••.••••.••..•.•......•.••..•......••.•...•••....••.•..•.......•..••••••.•....•.•••.•••......•.•...•.•.••.•......•.•.•.••................................•...........•....•......•.••...•.....•....•.......•.. 33 6. MARKET VALUE OF LAND ..•....••..........•.............•.............•.••.............•..............................•...................•............•.•..••.••.•.....••.•.•.•••....••.•.••.•..• ,••..••...••...••. 33 7. SUPPLIER PAYMENT POLICY ••.•...•..•.•.••.•......•..•.•.•• ,•....•••.••..•••..••••.•.•••••......•.•.••.•....•....•..••........... ,•......••.•.••...•........•.•...........•.•............•...•.•...........•....•.. 33 8. DIRECTORS •.•.•.•••.••••..••.••.••:••,•••.•.••.••.•.•••••,•..••.•.••.•..••..•.•........•.•.•..•..••.••.•.•..••..•.•..••....•....•••.• ,•.••••••.•....••.•..•..•.• ,.•.....••....•.•.••.•..•..•.•.•.•..••..••.•••..••.•..•.......• 33 g, CORPORATE GOVERNANCE STATEMENT ,.•....••.•.•.....••.••.•...•....•..•.•..••.•.••.••.•.•...• ,.•,.•.••.•.•...•.••..•.•.•......••.•.••.•.•..............•.............•.•••...........•...............• 35 Astra Resources PLC (CN: 07620218) and Controlled Entities Financial Report for the Period Ended on 30 June 2013 10. POLITICAL AND CHARITABLE CONTRIBUTIONS .••.•.......•..••.•..•.•• ,•..•..•.•..•.••.•..•.••.•••••....••••.••••.••.••.••..••••••..•..•.••.••••.••.•..•.••.•.•••.•••...•.•.•.••..•••....••••..•..• 38 11. SOCIAL PERFORMANCE REVIEW ..•.•. ,.............................................................•..................................•.................................................•.....................• 38 12. DISCLOSURE OF INFORMATION TO AUDITOR •.•..•..•.•.•.•.•....••••..•.......•..... " .•.•.•.....•.•.•...••••••••.•..•.•.•••..•••••..•.•••.•..•..•.••.•••••••.•..•.••..•..•..•••••..••••.•.•••••.•.•• 38 TOP 20 SHAREHOLDERS , 39 FINANCIAL STATEMENTS 41 STATEMENT