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Annual Report 2012 Nnual R 2012 a Nnual Level 8, 251 Adelaide Terrace Perth WA 6000 E

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Annual Report 2012 Nnual R 2012 a Nnual Level 8, 251 Adelaide Terrace Perth WA 6000 E Perilya Perilya www.perilya.com.au annual report l imited 2012 2012 Level 8, a 251 Adelaide Terrace nnual Perth WA 6000 r e Telephone: +61 8 6330 1000 P ort Facsimile: +61 8 6330 1099 Email: [email protected] ations 01991 ations C Platform CommuniPlatform 03 Chairman’s letter our international operations Perilya Limited (“Perilya”) 04 Chief Executive Officer’s review a solid foundation with 2.8Mtpa concentrator. is an Australian mining and Broken Hill 1 LOM plan 10+ years based on reserves 06 Financial review exploration company. 08 Report on operations 2 Flinders optionality – cashflow positive 18 Resources and reserves 3 Mt Oxide potential copper project 22 Five-year performance summary 4 Cerro de Maimón copper, gold and silver mine. 23 Financial statements 5 Moblan potential lithium project 6 Ranau (50%) early stage copper/gold project in Malaysia corporate directory Perilya limited Perilya is the operator of the Broken Hill zinc, lead and silver mine Head office and registered office ABN: 85 009 193 695 in NSW, and the Cerro de Maimon copper, gold and silver mine in the Dominican Republic. Perilya’s operations also include the Level 8 Flinders Project in South Australia and the Mount Oxide Copper 251 Adelaide Terrace Project in Queensland. Perilya is owned 53.37% by Shenzhen Perth, Western Australia 6000 annual General meeting Zhongjin Lingnan Nonfemet Co., Ltd (“Zhongjin Lingnan”), PO Box 3057 China’s third largest zinc producer, listed on the Shenzhen stock The Annual General Meeting of Perth, Western Australia 6832 Perilya Limited will be held at exchange with a market capitalisation as at the date of this report the Conference Suite, Level 8, of approximately CNY18.7 billion (A$3 billion). Telephone: + 61 8 6330 1000 Facsimile: + 61 8 6330 1099 Exchange Plaza Building, Perilya was established in 1987. Its headquarters are in Perth, Email: [email protected] Perth Western Australia, Western Australia and its current Board of Directors and Company on Thursday 30 May 2013 Secretary comprises: Web: www.perilya.com.au at 10.30am (Perth time). Zhang Shuijian Non Executive Chairman Auditors Patrick O’Connor PricewaterhouseCoopers Non Executive Director and Deputy Chairman Chartered Accountants Paul Arndt 125 St George’s Terrace Managing Director and Chief Executive Officer Perth, Western Australia 6000 Minzhi Han Executive Director and General Manager, Metals and Marketing 6 Share registry Anna Liscia Non Executive Director Computershare Registry Services Pty Ltd Wang Wen Level 2, 45 St George’s Terrace Non Executive Director Perth, Western Australia 6000 Paul Marinko Telephone: + 61 8 9323 2000 Company Secretary 3 Securities exchange listing The company’s shares are listed on the 2 Australian Securities Exchange Limited 1 ASX code: PEM As one of Australia’s largest base metal miners, Perilya owns and operates the iconic Broken Hill zinc, lead and silver mine in New South Wales, Australia and also the Cerro de Maimón copper, gold and silver mine in the Dominican Republic. Since resizing in 2008, the Broken Hill operation has significantly improved its productivity, profitability and cashflow. Current reserves from June 2012 indicate at least a 10 year mine life. The combined zinc and lead production of Broken Hill for 2012 5 was approximately 130,950 tonnes of combined zinc and lead with C1 cash costs of US$0.62 per pound of payable zinc. In the Pan-Pacific area, Perilya also has an active exploration and development program in the Broken Hill region, with the Potosi/ Silver peak zinc, lead and silver mine under development. Perilya is also studying the development of zinc silicate projects in the Flinders region in South Australia and its Mount Oxide copper project located in the Mount Isa region, Queensland. In addition, the Company is seeking to recommence exploration once licenses have been renewed on its 50% interest in its copper/gold project in the state of Sabah, Malaysia. 4 In January 2011, Perilya successfully acquired 100% of the TSX-listed GlobeStar Mining Corporation. This acquisition gave Perilya immediate access to the low cost Cerro de Maimón copper, gold and silver mine in the Dominican Republic. Perilya has since significantly increased the mine life to in excess of 10 years. In 2012 the Cerro de Maimón mine produced 11,504 tonnes of saleable copper, 13,898 ounces of gold and 345,105 ounces of silver at a C1 cash cost of US$0.62/lb of payable copper. Perilya is actively exploring for copper and gold in its Dominican mineral concessions, encompassing more than 328 square kilometres. Perilya also owns lateritic nickel resources in the Dominican Republic and a 60% interest in the Moblan Lithiun Project in Quebec, Canada, both of which are currently undergoing development studies. Perilya is majority owned by Shenzen Zhongjin Lingnan Nomfemet Co. Ltd, which is China’s third largest zinc producer. 2012 AnnuAl RepoRt Perilya limited 01 02 2012 AnnuAl RepoRt Perilya limited Dear Shareholder, On behalf of the Board of Directors I am pleased to present to you the Company’s Annual Report and Financial Statements for the year ended 31 December 2012. Chairman’s letter Against a backdrop of a sustained and to sustainably 2012 has been a challenging difficult operating environment progress the expansion year but also a very productive epitomised by an appreciating opportunities which we are and inspiring year for Perilya. Australian dollar against fortunate to have before us at The Company has continued the US dollar and weak Broken Hill, Cerro de Maimón to perform strongly in a base metal prices, Perilya and elsewhere in our suite of difficult operating environment delivered excellent results in global assets. Through the impacted by factors outside of 2012 – particularly in terms continued support of our major its influence and control. It is of production performance, shareholder, Zhongjin Lingnan, this characteristic which fills financial performance and health we will maintain our focus me with great confidence in and safety at both our Cerro de on actively pursuing further our people and the Company Maimón mine in the Dominican acquisition opportunities is now very well leveraged to Republic and our Southern consistent with our proven deliver strong financial results Operations mine at Broken Hill. acquisition strategy. as global economic conditions ultimately improve. The ability of the Company I would also like to highlight to consistently achieve key changes to the Company’s In summary, the future will positive results in a less than management team in 2012. In continue to present a number favourable global economic November 2012, we announced of challenges but we face it environment is particularly the appointment of David Hume with great confidence. There pleasing and a testament to as General Manager of Broken continues to be robust demand the Company’s management Hill Operations and the intra- for our products and we have team and their highly refined company transfers of: a diverse and high quality operating cost reduction resource base. We continue • Andrew Lord to the position strategies and diversification to demonstrate strong fiscal of Executive General Manger and growth strategies. discipline and control on our Americas & President of operating costs and we have The considerable efforts of CMD based in the Dominican talented and dedicated people at management and dedicated Republic. Andrew showed all levels. Our consistently strong employees of the Company great leadership and made operating performance, financial during 2012 have been critical an exceptional contribution performance, cost control, health in combating the adverse to the Company during his and safety performance and effects of external pressures four and a half year term as strategic development activity outside of the Company’s General Manager of Broken positions us well in today’s control. Perilya is entering 2013 Hill Operations; and economic environment. with an extremely strong and • Peter Trout to the position of growing annual production base On behalf of the Board, I thank General Manager Acquisitions and a suite of development Paul Arndt, the management & Developments. Peter options worldwide. Of particular team and all employees has returned to Australia note is the extension of the past and present for their after two excellent years as Southern Operations’ mine life outstanding efforts during the Executive General Manager of to approximately 10 years as period. I would also like to take the Americas and President of of 30 June 2012 and the new this opportunity to thank our CMD and is now responsible Mineral Resource for the Cerro shareholders for their continued for managing the pursuit de Maimón mine demonstrating support of the Company. of acquisitions and internal an increase of more than 24% development projects outside in contained copper relative to of the Dominican Republic the previous mineral resource and the Broken Hill corridor. dated 31 December 2010. All three employees bring a Our focus for the ensuing wealth of mining experience to 12 months will be to ensure their new roles. improvement in the Company’s Zhang Shuijian performance in all areas is Chairman 2012 AnnuAl RepoRt Perilya limited 03 I am delighted to report that Perilya delivered an outstanding set of results in 2012 and has further strengthened its reputation as one of Australia’s largest base metal miners with a proven ability to consistently deliver strong financial results, maintain tight control of operating costs at highly productive mines and also maintain an excellent health and safety track record. Chief Executive Officer’s review Our 2012 production However, against the tide We will also maintain a key I would like to acknowledge performance at both Southern of economic uncertainty focus on: and thank the Board for its Operations in Broken Hill and experienced during 2012, significant support during the • deriving maximum potential our Cerro de Maimón mine was the Company continued to year and to thank all Perilya from our operating mines in exceptional.
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