SUMATRA COPPER & GOLD PLC ANNUAL REPORT
2015
SUMATRA COPPER & GOLD PLC
ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2015
SUMATRA COPPER & GOLD PLC | LEVEL 1, 5 ORD STREET, WEST PERTH WA 6005, AUSTRALIA ABN 14 136 694 267
REGISTERED IN ENGLAND AND WALES | 39 PARKSIDE, CAMBRIDGE CB1 1PN UNITED KINGDOM REGISTRATION NUMBER 5777015
Corporate Directory
DIRECTORS
Stephen Daniel Robinson (Non-Executive Chairman) David Fowler (Managing Director)
Adi Adriansyah Sjoekri (Executive Director)
Jocelyn Severyn de Warrenne Waller (Non-Executive Director) Gavin Arnold Caudle (Non-Executive Director)
COMPANY SECRETARY
Mark Satterly (United Kingdom) - appointed 31 July 2015 Susan Hunter (Australia)
REGISTERED OFFICE
39 Parkside Cambridge CB1 1PN United Kingdom
AUSTRALIAN OFFICE
Level 1, 5 Ord Street West Perth WA 6005 Australia
Phone: +61 8 6298 6200
BANKERS
HSBC Bank plc 69 Pall Mall
London SW17 5EY United Kingdom
National Australia Bank 1238 Hay Street
West Perth WA 6005 Australia
CHARTERED ACCOUNTANTS AND STATUTORY AUDITORS
BDO LLP
55 Baker Street London W1U 7EU United Kingdom
SHARE REGISTRY
Computershare Investor Services Pty Limited Level 2, 45 St George's Terrace
PERTH WA 6000
Phone: 1300 552 270 (within Australia)
Phone: +61 3 9415 4000 (outside Australia)
WEBSITE
www.sumatracoppergold.com
ASX CODE
SUM
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Contents
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Highlights
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1
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Chairman's Letter
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2
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Review of Operations
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3
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Review of Exploration
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11
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Mineral Resources and Ore Reserves
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17
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Strategic Report
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21
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Directors' Remuneration Report
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27
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Directors' Report
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28
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Independent Auditors' Report
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36
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Consolidated Statement of Comprehensive Income
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38
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Consolidated Statement of Financial Position
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39
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Consolidated Statement of Changes in Equity
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40
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Consolidated Statement of Cash Flows
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41
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Notes to the Consolidated Financial Statements
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42
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Parent Entity Financial Statements
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73
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Additional ASX Information
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98
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Highlights
Sumatra Copper & Gold plc (ASX: SUM), an Indonesian gold and silver mining company with a significant growth portfolio, had a successful 2015 year culminating in the commissioning of its flagship Tembang gold- silver mine.
Highlights for the calendar year 2015 were:
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Commencement of mining operations at the Tembang Gold-Silver Project in August 2015
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Practical completion of the Tembang processing plant on 7 September 2015, under budget and eight weeks ahead of schedule
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First gold pour on 29 September 2015
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Production of 2,954 oz of gold and 66,219 oz of silver
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Mineral Resource expansions at Berenai, Siamang and Bujang
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Equity raise of US$5 million and Tranche 2 debt drawdown of US$5 million successfully completed
Tembang Processing Plant
Our Vision - To be the best mid-tier gold producer in Indonesia in terms of value creation for shareholders, employees and the communities in which we operate.
Our Mission - As a Company and team we are dedicated to the exploration and development of sustainable mineral projects.
We aim to grow our business to create value for stakeholders involved with the Company.
We continually challenge the way in which we operate through the implementation of best practices in everything we do.
We are committed to improving efficiencies to maintain and reduce our operating costs. We invest in the development of our employees to achieve our objectives.
We seek to explore, develop and operate our projects safely with minimal impact on the environment.
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