Annual Report to shareholders September 15, 2021

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# Annual Report to shareholders September 15, 2021

Source: https://antipaminerals.com.au/upload/documents/investors/asx-announcements/210915005524_21-09-14-AntipaAnnualReport2021_FINAL.pdf
Published: 2021-09-15T00:00:00+00:00
Fetched: 2026-05-12T14:09:20.709+00:00
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## Content

# Annual Report to shareholders September 15, 2021
ABN 79 147 133 364
ANNUAL REPORT
FOR THE YEAR ENDED 30 JUNE 2021
Contents ANNUAL REPORT
Page
Corporate Directory 1
Directors’ Report 2
Remuneration Report 19
Auditor’s Independence Declaration 31
Independent Audit Report to Members 32
Financial Statements
Consolidated Statement of Profit or Loss and Other Comprehensive Income 36
Consolidated Statement of Financial Position 37
Consolidated Statement of Cash Flows 38
Consolidated Statement of Changes in Equity 39
Notes to the Consolidated Financial Statements 40
Directors’ Declaration 64
Corporate Governance Statement 65
Additional ASX Information 83
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 shares
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
Chief Financial Officer/Company Secretary
Mr Luke Watson
Registered and Principal Office
Level 2
16 Ord Street
West Perth WA 6005
Tel: +61 8 9481 1103
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 2021
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 2021 (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 over 34 years’ experience advising participants in the
energy and 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 Energy 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 35 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.
Roger commenced his geology career with Western Mining Corporation (WMC) Ltd in 1987 before joining
Forrestania Gold NL in 1997, 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 in 2007. During 2009 and 2010 Roger consulted to Integra Mining
Ltd on the Randalls Gold Project Feasibility Study, including the 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, achievements include the discovery of multiple mineral deposits
including the 2.1 million ounce Calibre gold-copper-silver deposit, and defining total combined resources of
approximately 3.2 million ounces of gold, 188,000 tonnes of copper and 2.0 million ounces of silver.
Other Current Directorships of listed public companies
None
Former Directorships of listed public companies in the last 3 years
None
2
Directors’ Report
30 June 2021
ANNUAL REPORT
Mr Mark Rodda – Non-executive Director
Qualifications – BA, LLB
Mark Rodda is a corporate consultant with over 24 years’ private law practice, in-house legal, company
secretarial and corporate experience. Mark has considerable practical experience in the management of local
and international mergers and acquisitions, divestments, exploration and project joint ventures, strategic
alliances, corporate and project financing transactions and corporate restructuring initiatives. Mark currently
manages Napier Capital Pty Ltd, a business established in 2008 to provide clients with specialist corporate
services and assistance with transactional or strategic projects. Prior to its 2007 takeover by Norilsk Nickel for
US$6+ billion, Mark held the position of General Counsel and Corporate Secretary for LionOre Mining
International Ltd, a company with operations in Australia and Africa and listings on the TSX, LSE and ASX.
Special responsibilities
Chair of the Audit Committee
Member of the Remuneration and Nomination Committee
Member of Risk and Sustainability Committee
Other current directorships of listed public companies
Lepidico Ltd – Non-executive Director (appointed 22 August 2016)
Former Directorships of listed public companies in the last 3 years
None
Mr Peter Buck – Non-executive Director
Qualifications – MSc, MAusIMM, Fellow AIG
Peter Buck is a geologist with more than 45 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 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 (subsequently rebranded, Galiano Gold Inc.). Since
October 2014, Peter has served as a Non-executive director of ASX listed, IGO Limited.
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. After resigning from AMEC, Peter was awarded life membership.
3
Directors’ Report
30 June 2021
ANNUAL REPORT
Also, for a number of years, Peter served on the Council for the Centre for Exploration Targeting established at
the University of Western Australia and Curtin University.
Special responsibilities
Chair of the Risk and Sustainability Committee
Member of the Audit Committee
Member of the Nomination and Remuneration Committee
Other Current Directorships of listed public companies
IGO Limited (appointed 6 October 2014)
Former Directorships of listed public companies in the last 3 years
None
Mr Gary Johnson – Non-executive Director
Qualifications – MAusIMM, MTMS, MAICD
Gary Johnson has over 40 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
Chair of the Remuneration and Nomination Committee
Member of Audit Committee
Member of Risk and Sustainability Committee
Other Current Directorships of listed public companies
Lepidico Limited (appointed 9 June 2016) – Non-executive Chairman
Former Directorships of listed public companies in the last 3 years
None
CHIEF FINANCIAL OFFICER AND COMPANY SECRETARY
Mr Luke Watson – appointed 3 August 2020
Qualifications – B.Bus, CA, CS, FGIA, F Fin
Mr Watson is a Chartered Accountant and experienced CFO who commenced his career at a large international
accounting firm. Since 2005, Luke has held senior corporate and finance positions with several ASX and TSX listed
exploration and development companies operating in the resources industry, including Mantra Resources
Limited (Mantra), OreCorp Limited and OmegaCorp Limited. He was the CFO and Company Secretary of Mantra
from its $6 million IPO in October 2006 until its acquisition by ARMZ (JSC Atomredmetzoloto) for approximately
$1 billion in mid-2011. Luke is also a member of the Governance Institute of Australia (Chartered Secretary) and
the Financial Services Institute of Australasia.
4
Directors’ Report
30 June 2021
ANNUAL REPORT
Mr Simon Robertson – resigned 3 August 2020
Qualifications - B.Bus, CA, M Appl. Fin.
Simon Robertson currently holds the position of Company Secretary for a number of publicly listed companies
and has experience in corporate finance, accounting and administration, capital raisings and ASX compliance
and regulatory requirements.
PRINCIPAL ACTIVITIES
The principal activity of the Company during the f

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