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Argent Minerals Limited
AUSTRALIA ARD.AX 0,02 AU$ 0,00%
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10 Aug 2016 Annual Report to Shareholders

Publié le 10 août 2016

ARGENT MINERALS

ANNUAL REPORT 2016

CORPORATE DIRECTORY

DIRECTORS

Stephen Gemell - Non-Executive Chairman David Busch - Managing Director

Peter Nightingale - Non-Executive Director Peter Michael - Non-Executive Director

COMPANY SECRETARY

Vinod Manikandan

REGISTERED OFFICE

Level 2, 66 Hunter Street

SYDNEY NSW 2000

Phone: 61-2 9300 3390

Fax: 61-2 9221 6333

E-mail: [email protected] Website: www.argentminerals.com.au

PRINCIPAL ADMINISTRATION OFFICE

Suite 6, Level 6, 50 Clarence Street

Sydney NSW 2000

T: 02 9262 2211

F: 02 9475 5346

SHARE REGISTRY

Computershare Investor Services Pty Limited Level 4, 60 Carrington Street

SYDNEY NSW 2000

Phone: 1300 850 505

Fax: +61 3 9473 2500

AUDITORS

KPMG Level 16, Riparian Plaza 71 Eagle Street

BRISBANE QLD 4000

HOME EXCHANGE

ASX Limited Level 40, Central Park 152-158 St George's Terrace PERTH WA 6000

SOLICITORS

Sydney - Resources Legal Pty Ltd Perth - Jeremy Shervington

ABN: 89 124 780 276

ASX Code: ARD (ordinary shares)

Argent Minerals Limited, incorporated and domiciled in Australia, is a publicly listed company limited by shares.

FRONT COVER

A section of diamond drill core sample from where semi- massive sulphide mineralisation was intersected at the Kempfield project, NSW.

CONTENTS

2 COMPANY PROFILE

6 HIGHLIGHTS

8 CHAIRMAN'S LETTER

10 OPERATIONS REVIEW

  1. CORPORATE GOVERNANCE STATEMENT

  2. DIRECTORS' REPORT

  1. LEAD AUDITOR'S INDEPENDENCE DECLARATION

  2. CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

  3. CONSOLIDATED STATEMENT OF FINANCIAL POSITION

  4. CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

  5. CONSOLIDATED STATEMENT OF CASH FLOWS

38 NOTES TO THE FINANCIAL STATEMENTS

  1. DIRECTOR'S DECLARATION

  2. INDEPENDENT AUDITOR'S REPORT

68 ADDITIONAL STOCK EXCHANGE INFORMATION

71 SCHEDULE OF MINERAL TENEMENTS

ARGENT MINERALS LIMITED ANNUAL REPORT 2016 / 1

75 MINERAL RESOURCES AND ORE RESERVES STATEMENT

COMPANY PROFILE

Argent Minerals Limited (Argent Minerals, Argent or the Company) is an ASX-listed public company (ASX: ARD) focused on creating shareholder wealth through the discovery, extraction and marketing of precious and base metals. A key goal of the Company is to become a leading Australian polymetallic producer, producing 1.5 million tonnes per annum with a mine life of 20 years.

The Company's project assets are situated in the Lachlan Orogen in New South Wales, Australia, a richly mineralised geological terrane which extends from northern NSW and through Victoria into Tasmania. The first gold discovery in Australia was in 1851, at a location within the Lachlan Orogen. This important find led to the subsequent gold rushes, the discovery of the Holtermann Nugget in 1872, and the formation of nearby townships of Bathurst and Orange.

Today the Lachlan Orogen hosts world class deposits including one of the largest underground copper-gold mines in the southern hemisphere, Newcrest's Cadia Valley Operations.

NEW SOUTH WALES

LACHLAN OROGEN

Broken Hill

Wyoming

Holtermann Nugget

l Argent Minerals Projects

VHMS: Lead/zinc/silver +/-gold, copper

Peak Hill

Hill End 1872

Copper-gold

}World-class

NORTHPARKES

Orange

n

SUNNY CORNER

Gold

>100 Million tonnes

COWALCADIA

WEST WYALONG

McPhillamys

Sydney

Hill End Trough basin margin

KEMPFELD

HILL END TROUGH

Woodlawn

Thalanga

Captains Flat

Australia

Rosebery Que River Hellyer Mt. Lyell

Strategically positioned within this world class neighbourhood are Argent Minerals' three projects - Kempfield, West Wyalong and Sunny Corner. The Company owns a controlling interest in all three projects.

KEMPFIELD (100% ARGENT)

Located just 41 kilometres from Cadia is Kempfield, the Company's flagship project, a registered New South Wales State Significant Development that belongs to a compelling peer group of volcanic-hosted massive sulphide (VHMS) deposits located at the margins of geological basins such as the Hill End Trough. This peer group is known as the Eastern Australian Palaeozoic VHMS Deposits, and includes well-known rich deposits such as Rosebery, Que River, Hellyer, Mt. Lyell, Sunny Corner, McPhillamys, Woodlawn, Captains Flat and Thalanga.

The Kempfield Polymetallic Project is 100% owned by Argent Minerals and has a substantial JORC 2012 Mineral Resource of 21.8 million tonnes and 52 million ounces of silver equivalent contained metal.

The Company's strategy for Kempfield is to focus on exploration for high grade base and precious metals. Argent drilling has intersected combined lead/zinc grades of up to 17.9% immediately to the west of the existing Mineral Resource, and numerous high grade gold intervals including a spectacular gold intersection during the year of 1 m @ 1,065 g/t from 97 m by hole AKDD181. The Company continues to drill-test a model developed for the deposit that suggests the potential for multiple additional VHMS zones, a feeder zone associated with a VHMS footwall position, and an emerging overprint gold system within the Kempfield, Trunkey Creek and Pine Ridge gold fields.

2 / ARGENT MINERALS LIMITED ANNUAL REPORT 2016

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