TALGA RESOURCES LTD AND CONTROLLED ENTITIES ABN 32 138 405 419
ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED 30 JUNE 2016
Table of Contents
Corporate Directory 3
Directors' Report 4
Auditor's Independence Declaration 18
Consolidated Statement of Profit Or Loss And Other Comprehensive Income 19
Consolidated Statement of Financial Position 20
Consolidated Statement of Changes in Equity 21
Consolidated Statement of Cash Flows 22
Notes to the Financial Statements 23
Directors' Declaration 48
Independent Audit Report 49
Additional Shareholder Information 51
Corporate Governance Statement 54
Schedule of Mineral Tenements 61
CORPORATE DIRECTORY
DIRECTORS
Keith Coughlan (Chairman)
Mark Thompson (Managing Director) Grant Mooney (Non-‐Executive Director) Steve Lowe (Non-‐Executive Director)
COMPANY SECRETARY
Dean Scarparolo
REGISTERED OFFICE & PRINCIPAL PLACE OF BUSINESS
Suite 3, First Floor 2 Richardson Street
WEST PERTH WA 6005 Phone: +618 9481 6667
Facsimile: +618 9322 1935
EMAIL & WEBSITE
Email: [email protected] Website: www.talgaresources.com
ABN
32 138 405 419
SECURITIES EXCHANGE LISTING
The Company is listed on ASX
Home Exchange: Perth
ASX Codes: TLG (Shares)
TLGOA (Options)
SHARE REGISTRY
Security Transfer Registrars Pty Ltd 770 Canning Highway APPLECROSS WA 6153
Telephone: (08) 9315 2333 Facsimile: (08) 9315 2233
AUDITORS
Stantons International Level 2, 1 Walker Avenue WEST PERTH WA 6005
DIRECTORS' REPORT
The Directors present their report, together with the financial statements of Talga Resources Ltd ("Talga") and its controlled entities ("Group"), for the financial year ended 30 June 2016.
-
BOARD OF DIRECTORS
The following persons were Directors of Talga Resources Ltd during the whole financial year and up to the date of this report, unless otherwise stated:
|
Directors
|
Position
|
Date of Appointment
|
|
Keith Coughlan
|
Non-‐Executive Chairman
|
Appointed 27th September 2013
|
|
Mark Thompson
|
Managing Director
|
Appointed 21st July 2009
|
|
Grant Mooney
|
Non-‐Executive Director
|
Appointed 20th February 2014
|
|
Steve Lowe
|
Non-‐Executive Director
|
Appointed 17th December 2015
|
-
INFORMATION ON DIRECTORS
The names and details of Directors in office during the financial year and until the date of this report are as follows:
Keith Coughlan (Non-‐Executive Chairman) (Appointed 27th September 2013)
Mr Coughlan has over 30 years' experience in stockbroking and funds management where he has been largely involved in the funding and promoting of resource companies listed on the ASX, AIM and TSX. He has advised various companies on the identification and acquisition of resource projects and was previously employed by one of Australia's then largest funds management organisations.
Mr Coughlan is a current executive director of ASX listed European Metals Holdings Limited.
Mark Thompson (Managing Director) (appointed 21st July 2009)
Mr Thompson has more than 25 years industry experience in exploration and mining management, working extensively on Australian and international resource projects. He is a Member of the Australian Institute of Geoscientists and the Society of Economic Geologists, and is Guest Professor in Mineral Exploration Technology at both the Chengdu University of Technology and the Southwest University of Science and Technology in China.
Mr Thompson founded and served on the Board of ASX listed Catalyst Metals Ltd and is a Non-‐Executive Director of Phosphate Australia Ltd.
Grant Mooney (Non-‐Executive Director) (appointed 20th February 2014)
Mr Mooney has a wealth of experience in resources and technology markets. Mr Mooney serves as Director and Company Secretary to several ASX listed companies including Director of renewable energy developer, Carnegie Wave Energy Ltd and Director of ASX-‐listed resource companies, Barra Resources Ltd and Phosphate Australia Ltd.
Mr Mooney is a member of the Institute of Chartered Accountants in Australia.
Steve Lowe (Non-‐Executive Director) (appointed 17th December 2015)
Mr Lowe's background is in business management and taxation and he has over 18 years' experience consulting to a range of corporate and high wealth clients. Mr Lowe is currently a non-‐executive director of Corizon Resources Ltd and Windward Resources Ltd.
Mr Lowe is a Fellow of the Taxation Institute of Australia and a Member of the Australian Institute of Company Directors.