Microsoft Word - ZGM Annual Shareholder Address AS Nov 2015 (3)
20 November 2015
Address by Andrew Skinner, Chairman, at the 2015 Annual General Meeting of Zamia Metals Limited
Good Morning Ladies and Gentlemen - welcome to the 2015 Annual General Meeting of Zamia Metals Limited. It is my pleasure to assume the Chair of this meeting for the first time.
The main items of business at this Meeting are consideration of the Remuneration Report and of resolutions for the re‐election of Directors Mr Qiang Chen and Dr Jiniu Deng both retire by rotation and stand for re‐election.
During the year, for personal reasons, our former Chairman Richard Keevers resigned. On behalf of the Board and the Company I wish to express my sincere appreciation for his profound geological insights into the Belyando and other exploration areas held by Zamia and his leadership of the Company. We wish him all the best for his future endeavours.
The 2015 year has been one of falling bulk commodity prices, however, the gold price has held firm as the falling Australian dollar has resulted in a consistent value of over A$1,500 per ounce. Whilst the risk appetite for investment in Australian explorers generally has been restrained, Zamia is extremely fortunate in having two large shareholders who are also on our board of directors, Mr Chen Qiang and Dr Deng Jiniu. I am grateful for their financial support, which has enabled the Company to continue fieldwork during the year.
Our exploration targets remain much as for last year: porphyry‐related copper‐gold‐ molybdenum deposits and epithermal gold deposits in central Queensland. A particular focus has been the former Belyando gold mine. Our geological team has carried out substantial work on compiling and interpreting the old geological data and merging it with newly‐acquired data. This has assisted the Company in forming a better understanding of the nature of the Belyando deposit and siting further exploration drill holes. The very promising results of this work have been reported during the year.
It continues to be a difficult climate for small explorers, however, the Board is working tirelessly to seek out opportunities for funding and the advancement of the Company and we are confident about the future of Zamia.
I wish to thank my fellow directors and all of the staff, both past and present who have made such a valuable contribution to the Company.
We will now turn to the formal business of this Annual General Meeting and then we welcome any questions from Shareholders.
Andrew Skinner Executive Chairman Zamia Metals Limited