MOLY MINES LIMITED
MOLY MINES LIMITED
ABN 32 103 295 521
ANNUAL FINANCIAL REPORT
31 DECEMBER 2015
Board of Directors
Nelson Chen Chairman
Gregory Jones Non-Executive Director
Huan Jun Kang Non-Executive Director
Anthony Martin Non-Executive Director
Gou Qing Lou Non-Executive Director
Cathie (Wei) Wu Non-Executive Director
Executive Officers
Graeme Kininmonth Acting Chief Executive Officer
Riccardo Vittino Chief Financial Officer
Susan Hunter Company Secretary
ASX Code MOL
Principal & Registered Office
50 Kings Park Road PO Box 8215
West Perth, WA, 6005 Subiaco East, WA, 6008
Telephone: +61 8 9429 3300
Fax: +61 8 9429 3399
Email: [email protected] Website: www.molymines.com
ASX Share Register
Computershare Investor Services Pty Ltd Level 11 / 172 St Georges Terrace
Perth, WA, 6000
Telephone: +61 8 9323 2000
1300 850 505 (investors within Australia)
Fax +61 8 9323 2033
Web www.computershare.com
Auditor
Deloitte Touche Tohmatsu Tower 2, Brookfield Place 123 St Georges Terrace Perth, 6000, Australia
Telephone +61 8 9365 7000
Fax +61 9365 7001
Web: www.deloitte.com.au
The Directors present their report together with the financial report of Moly Mines Limited ("Moly Mines" or the "Company") and of the consolidated entity, being the Company and i ts controlled entities (the "Group") for the year ended 31 December 2015, and the auditor's report thereon.
In this report and the financial statements, references to:
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"Hanlong" are to Hanlong Mining Investment Pty Ltd.
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"Sichuan Hanlong Group" are to Sichuan Hanlong Group, a private company incorporated in China.
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"Hanlong Group" are to the Chinese companies controlled by Sichuan Hanlong Group, including Hanlong and Sichuan Hanlong Group itself.
DIRECTORS
The names and details of the Company's Directors in office during the year and until the date of this report are set out below. Directors were in office for the entire year unless otherwise stated.
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Director
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Qualifications, Experience and Other Directorships
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Committee
Membership
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Nelson Chen Non-Executive Chairman
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Appointed 31 May 2013. Appointed Chairman 20 December 2013.
Mr Chen is a Director of Hanlong (Australia) Resources Pty Ltd and a Chartered Accountant in Australia. He holds postgraduate degrees in finance and accounting. Prior to joining Hanlong, Mr Chen spent over 11 years with PricewaterhouseCoopers, Sydney office in their audit and M&A advisory practices. Mr Chen has served on the board of Australia China Business Council, NSW branch for over 7 years.
Details of Mr Chen's other listed public company directorships over the past three years are:
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Marenica Energy Limited, appointed 4 October 2011, continuing.
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General Moly, Inc. (NYSE Amex and TSX) appointed 14 September 2011 , continuing.
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Material Investment,
Remuneration.
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Gregory Jones
Non-Executive, independent
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Appointed 22 August 2014.
Mr Jones is a geologist with 35 years' exploration and operational experience gained in a broad range of metalliferous commodities both within Australia and overseas. Mr Jones has held senior positions in a number of resource companies including Western Mining Corporation and Sino Gold Limited. His experience spans a wide spectrum of activities from grass-roots exploration through to resource definition and new project generation, project assessment and acquisition, as well as mine geology, ore resource/reserve generation and new mine development. Mr Jones is currently Managing Director of Variscan Mines Limited.
Details of Mr Jones's other listed public company directorships over the past three years are:
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Variscan Mines Limited, appointed 20 April 2009, continuing.
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Eastern Iron Limited, appointed 24 April 2009, continuing.
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Silver City Minerals Limited, appointed 30 April 2009, continuing.
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Thomson Resources Ltd, appointed 17 July 2009, continuing.
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Audit and Risk
Management (Chairman),
Material Investment.
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1
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Huan Jun Kang
Non-Executive
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Appointed 25 June 2012.
Mr Kang is the executive director and the acting Chief Executive Officer of Hanlong Resources Limited and Vice President of Sichuan Hanlong Group Company Limited.
Mr Kang has held lecturing positions at Hebei University and gained his PhD at the China University of Social Sciences. Since leaving academia and prior to joining the Sichuan Hanlong Group, Mr. Kang held positions with the China Securities Committee, China Zhongqi Investments and was the Chief Executive Officer of Hong Kong Fengshou Investment Company.
Mr Kang is a Board nominee and director of Hanlong, and has not been a director of any other listed public companies in the last three years.
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Gou Qing Lou
Non-Executive
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Appointed 22 August 2014.
Mr Lou is the Managing Director of Hanlong Group. He was formerly the president of China Construction Bank, Panzhihua Municipality branch in Sichaun province and has over 27 years of experience in credit management and financial investment. Mr Lou holds a Bachelor of Economics degree from Wuhan University and a Postgraduate Diploma in business administration from Sichuan University.
Mr Lou is a Board nominee and director of Hanlong.
Details of Mr Lou's other listed public company directorships over the past three years are:
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Audit and Risk
Management,
Material Investment.
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Anthony Martin
Non-Executive, independent
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Appointed 22 August 2014.
Mr Martin is a Perth-based geologist with over 30 years' technical and corporate experience in the junior mining sector. He is currently an executive director (non corporate) of the London-based advisory firm Northcott Capital and manages their Australian-based technical team. Northcott performed advisory work for Moly Mines during the year. His experience covers a wide range of commodities including precious metals, base metals and bulk commodities throughout the Asia Pacific region and southern Africa. He is the former CEO of ASX -listed companies Queensland Mining Corporation Limited, Sihayo Gold Limited and Westgold Resources Limited. In the past five years he has also worked as a technical consultant for a number of Chinese companies seeking investments in mining projects owned by Australian-based companies. He has been a member of AusIMM since 1991.
Mr Martin has not been a director of any other listed public companies in the last three years.
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Material Investment (Chairman), Remuneration
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2