Strategic Energy Resources Limited
ABN 14 051 212 429
Annual Report - 30 June 2016
Contents
30 June 2016
Corporate directory 2
Review of operations 3
Directors' report 7
Auditor's independence declaration 18
Statement of profit or loss and other comprehensive income 19
Statement of financial position 20
Statement of changes in equity 21
Statement of cash flows 22
Notes to the financial statements 23
Directors' declaration 48
Independent auditor's report to the members of Strategic Energy Resources Limited 49
Shareholder information 52
Strategic Energy Resources Limited Corporate directory
30 June 2016
Directors Mr Peter Armitage (Non-Executive Director) Mr Anthony Rechner (Technical Director) Mr Stuart Rechner (Executive Director)
Company secretary Melanie Leydin
Registered office Level 4, 100 Albert Road South Melbourne, VIC 3205 Ph: (03) 9692 7222
Fax: (03) 9077 9233
Principal place of business Level 4, 100 Albert Road
South Melbourne, VIC 3205 Ph: (03) 9692 7222
Fax: (03) 9077 9233
Share register Link Market Services Limited Level 1, 333 Collins Street
Melbourne, VIC 3000
Ph: 1300 554 474
Auditor Grant Thornton Audit Pty Ltd The Rialto Level 30, 525 Collins Street
Melbourne VIC 3000
Stock exchange listing Strategic Energy Resources Limited shares are listed on the Australian Securities
Exchange (ASX code: SER)
Website www.strategicenergy.com.au
Review of Operations 30 June 2016
MINERAL EXPLORATION
Figure 1: SER Exploration Projects
PURCHASE OF SAXBY GOLD PROJECT
QUEENSLAND (SER 100%)
On 15 July 2016, SER purchased the Saxby Gold Project from Falcon Minerals Limited (ASX:FCN) for 3,000,000 SER shares and a 1.5% net smelter return royalty in the event that mining commences at the Saxby Project. The transfer of the project was finalised early in FY2016-17.
The Saxby Project is located 165km north northeast of Cloncurry in the Gulf Country of northwest Queensland. It contains precious and base metal prospects (including the Lucky Squid Gold prospect). These prospects are hosted by basement rocks of the Mt Isa Block that are buried beneath younger sedimentary cover.
MYALL CREEK COPPER PROJECT
SOUTH AUSTRALIA (EL 5010 SER 75%, EL 5011 SER 50%)
The Myall Creek and Spencer copper projects are located on the west coast of the Spencer Gulf and cover 702km² of the highly prospective Olympic Copper Gold Province of the eastern Gawler Craton. The Myall Creek Project includes a 15km zone with anomalous copper shown in historic drilling.
SER and joint venture partner Kingston Resources Limited (ASX: KSN) are targeting both Iron Oxide Copper Gold (IOCG) mineralisation in the Proterozoic basement as well as sediment-hosted mineralisation in the overlying sediments.