Annual Report for the Year Ended 30 June 2018 September 19, 2018

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# Annual Report for the Year Ended 30 June 2018 September 19, 2018

Source: https://antipaminerals.com.au/upload/documents/investors/asx-announcements/201129232302_2018-09-201.pdf
Published: 2018-09-19T00:00:00+00:00
Fetched: 2026-05-12T14:09:39.982+00:00
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## Content

# Annual Report for the Year Ended 30 June 2018 September 19, 2018
ANTIPA MINERALS LTD
ACN 147 133 364
ANNUAL REPORT
FOR THE YEAR ENDED 30 JUNE 2018
Contents ANNUAL REPORT
Page
Corporate Directory 1
Directors’ Report 2
Remuneration Report 18
Auditor’s Independence Declaration 30
Independent Audit Report to Members 31
Financial Statements
Consolidated Statement of Profit or Loss and Other Comprehensive Income 35
Consolidated Statement of Financial Position 36
Consolidated Statement of Cash Flows 37
Consolidated Statement of Changes in Equity 38
Notes to the Consolidated Financial Statements 39
Directors’ Declaration 65
Corporate Governance Statement 66
Additional ASX Information 76
Corporate Directory ANNUAL REPORT
Directors Auditor
Mr Stephen Power BDO Audit (WA) Pty Ltd
Executive Chairman 38 Station Street
Subiaco WA 6008
Mr Roger Mason
Managing Director
Mr Mark Rodda Securities Exchange Listing
Non-executive Director Antipa Minerals Limited securities
are listed on the Australian Securities Exchange
Mr Peter Buck
Non-executive Director Shares: AZY
Mr Gary Johnson
Non-executive Director Website
www.antipaminerals.com.au
Company Secretary
Mr Simon Robertson
Registered and Principal Office
Level 2
16 Ord Street
West Perth WA 6005
Tel: +61 8 9481 1103
Fax: +61 8 9481 0117
Share Register
Computershare Investor Services Pty Ltd
Level 11
172 St Georges Terrace
Perth WA 6000
Telephone: +61 1300 787 272
Facsimile: +61 8 9323 2033
1
Directors’ Report
30 June 2018
ANNUAL REPORT
The Directors of Antipa Minerals Limited (“Directors”) present their report on the Consolidated Entity
consisting of Antipa Minerals Limited (“Company” or “Antipa”) and the entities it controlled at the
end of, or during, the year ended 30 June 2018 (“Consolidated Entity” or “Group”).
DIRECTORS
The following persons were directors of Antipa during the financial year or up to the date of this
report:
Mr Stephen Power Executive Chairman
Mr Roger Mason Managing Director
Mr Mark Rodda Non-executive Director
Mr Peter Buck Non-executive Director
Mr Gary Johnson Non-executive Director
CURRENT DIRECTORS
Mr Stephen Power – Executive Chairman
Qualifications – LLB
Stephen Power was previously a commercial lawyer with twenty seven (27) years’ experience advising
participants in the resources industry in Australia and overseas including England, Canada, Ghana,
Tanzania, Brazil and Peru. Stephen has extensive experience and understanding of the commercial
aspects of resource companies, including farm-in negotiations, joint ventures and mergers and
acquisitions. Stephen was formerly a non-executive director of Melbourne based Karoon Gas Australia
Limited and has interests in a number of businesses in the resources and other industries. Stephen's
wide ranging commercial and legal experience provides valuable commercial expertise to the
Company.
Other Current Directorships of listed public companies
None
Former Directorships of listed public companies in the last 3 years
None
Mr Roger Mason – Managing Director
Qualifications – BSc (Hons), MAusIMM
Roger Mason is a geologist with over thirty (30) years’ resources industry experience involving
exploration, project, mining and business development roles covering a range of commodities
including nickel, base metals and gold to the level of executive management and company director.
Roger graduated from the University of Tasmania in 1986 with an honours degree in science and has
been a Member of the AusIMM since 1990.
2
Directors’ Report
30 June 2018
ANNUAL REPORT
Roger commenced his geology career with WMC Resources Ltd in 1987 before joining Forrestania Gold
NL, which was subsequently acquired by LionOre International Ltd. In 2006 Roger achieved the role of
General Manager Geology for LionOre Australia and then Norilsk Nickel Australia Pty Ltd following the
takeover of LionOre International. During 2009 and 2010 Roger consulted to Integra Mining Ltd on the
Randalls Gold Project Feasibility Study and associated Mineral Resource development and new
business opportunities. Roger has been the Managing Director and CEO of Antipa Minerals Ltd since
the company was listed on the ASX in April 2011.
Other Current Directorships of listed public companies
None
Former Directorships of listed public companies in the last 3 years
None
Mr Mark Rodda – Non-executive Director
Qualifications – BA, LLB
Mark Rodda is a lawyer with more than twenty (20) years’ in private practice, in-house legal, company
secretary and corporate consultancy experience. Mark has considerable practical experience in the
management of mergers and acquisitions, divestments, joint ventures, corporate and project
financing transactions and corporate restructuring initiatives.
Mark currently manages Napier Capital, a business established in 2008 which provides clients with
specialist corporate services and assistance with transactional or strategic projects. Mark was a
director of Napier Legal, a boutique law firm that was active in the corporate and resources sector
until late 2011. Prior to its takeover by Norilsk Nickel for $6+billion, Mark held the position of General
Counsel and Corporate Secretary for LionOre Mining International Ltd, a company with nickel and gold
operations in Australia and Africa and listings on the Toronto Stock Exchange, London Stock Exchange
and ASX.
Special responsibilities
Member of the Audit and Risk Committee
Member of the Remuneration and Nomination Committee
Other Current Directorships of listed public companies
Lepidico Ltd (formerly Platypus Minerals Ltd) – Non-executive Director (appointed 22 August 2016)
Former Directorships of listed public companies in the last 3 years
Coalspur Mines Pty Ltd (formerly Coalspur Mines Limited) – Non-executive Director
3
Directors’ Report
30 June 2018
ANNUAL REPORT
Mr Peter Buck – Non-executive Director
Qualifications – MSc, MAusIMM, Fellow AIG
Peter Buck is a geologist with more than forty one (41) years of international mineral exploration and
production experience, principally in nickel, base metals and gold. During his career he has been
associated with the discovery and development of a number of mineral deposits in Australia and Brazil.
Peter worked with WMC for twenty three (23) years in a variety of senior exploration and production
roles both in Australia and Brazil before joining Forrestania Gold NL as Exploration Manager in
1994. Forrestania Gold was subsequently acquired by LionOre International Ltd with whom he
became the Director of Exploration and Geology until mid-2006. Peter managed the highly successful
exploration team that delineated the Maggie Hays nickel deposit and discovered the Emily Ann,
Waterloo and Amorac nickel deposits and the two million ounce Thunderbox gold deposit in Western
Australia. All of these were subsequently developed into mines. Peter played a key senior
management role in progressing these deposits through feasibility studies to production. Peter also
played key senior advisory roles in indigenous relations in Australia and in LionOre International’s
African operations and new business development. During this period Peter was also a Non-executive
director with Gallery Resources Limited and Breakaway Resources Limited (Breakaway).
In 2006, Peter played a key role in managing a divestment of a large portion of LionOre Australia’s
nickel exploration portfolio into Breakaway. Following this transaction, Peter became the Managing
Director of Breakaway and led the team that discovered extensions to a series of nickel and base
deposits in WA and Queensland. In 2009, Peter left Breakaway to pursue other professional and
personal interests.
From 2010 until early 2013 Peter chaired the Canadian company, PMI Gold (‘PMI”), and played a key
role in co-listing the company on the ASX. The role entailed a revamping of the strategy of the
company to fast-track the advancement of the company’s Ghanaian gold assets and in particular the
preparation of the multi-million ounce Obotan gold deposit. Also the role entailed overseeing PMI’s
transition to a merger of the company with a Canadian explorer, Keegan Resources, to form Asanko
Gold. Since October 2014, Peter has served as a Non-executive director of ASX listed, Independence
Group NL.
Peter was on the council of The Association of Mining and Exploration Companies (AMEC) for 12 years
and served as its Vice President for several years. Peter has been given a life membership of the Centre
for Exploration Targeting established at the University of Western Australia and Curtin University.
Special responsibilities
Chair of the Audit and Risk Committee
Chair of the Remuneration and Nomination Committee
Other Current Directorships of listed public companies
Independence Group NL (appointed 6 October 2014)
Former Directorships of listed public companies in the last 3 years
None
4
Directors’ Report
30 June 2018
ANNUAL REPORT
Mr Gary Johnson – Non-executive Director
Qualifications – MAusIMM, MTMS, MAICD
Gary Johnson has over thirty (30) years’ experience in the mining industry as a metallurgist, manager,
owner, director and managing director possessing broad technical and practical experience of the
workings and strategies required by successful mining companies.
Prior to 2011 Gary was Managing Director of Norilsk Nickel Australia, reporting to the Deputy Director
of International Assets at MMC Norilsk Nickel, the world’s largest nickel producer.
Gary now operates his own consulting business, Strategic Metallurgy Pty Ltd, specialising in high-level
metallurgical and strategic consulting. He is Chairman of Lepidico Limited, an ASX listed public
company developing new technology for the lithium battery industry.
For many years Gary was a director of Tati Nickel Mining Company (Pty) Ltd, in Botswana. During his
long association with Tati it grew to be a low-cost nickel producer and the largest nickel mine in Africa.
Special responsibilities
Member of Audit and Risk Committee
Member of the Remuneration and Nomination Committee
Other Current Directorships of listed public companies
Lepidico Limited (appointed 9 June 2016) (formerly Platypus Minerals Ltd) – Non-executive Chairman
Former Directorships of listed public companies in the last 3 years
Hard Creek Nickel Corporation (TSX listed) (resigned 30 June 2015) – Non-executive director.
COMPANY SECRETARY
Mr Simon Robertson
Qualifications - B.Bus, CA, M Appl. Fin.
Mr Robertson gained a Bachelor of Business from Curtin University in Western Australia and Master
of Applied Finance from Macquarie University in New South Wales. Chartered Accountants Australia
and New Zealand and the Governance Council of Australia. Mr Robertson currently holds the position
of Company Secretary for a number of publically listed companies and has experience in corporate
finance, accounting and administration, capital raisings and ASX compliance and regulatory
requirements.
5
Directors’ Report
30 June 2018
ANNUAL REPORT
PRINCIPAL ACTIVITIES
The principal activity of the Group during the financial period was mineral exploration.
DIVIDENDS
No dividends have been declared, provided for or paid in respect of the financial year ended 30 June
2018 (2017: Nil).
SUMMARY REVIEW OF OPERATIONS
For the financial year ending 30 June 2018 the Group recorded a net loss of $1,872,379 (year ended
30 June 2017: $1,600,854 loss) and a net cash outflow from operations of $1,393,347 (year ending 30
June 2017: 833,274).
COMPANY PROJECTS AND ACTIVITIES UNDERTAKEN
Projects and Location Overview
The Company is an ASX listed mineral resources company with large scale world class assets and the
objective of providing maximum leverage to shareholders

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