Ferrum Crescent Limited
A.C.N. 097 532 137
Annual Report For the year ended 30 June 2016
Page No.
Corporate information 3
Directors' report 4
Company and Project overview 24
Corporate governance statement 33
Consolidated statement of profit or loss and other comprehensive income 42
Consolidated statement of financial position 43
Consolidated statement of cash flows 44
Consolidated statement of changes in equity 45
Notes to the consolidated financial statements 46
Directors' declaration 85
Independent auditor's report 86
Auditor's independence declaration 88
Additional ASX information 89
Additional JSE information 91
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Directors:
Mr. Justin Tooth Mr. Evan Kirby
Mr. Klaus Borowski Mr. Grant Button
Company Secretary:
Mr. Grant Button
Auditor:
BDO Audit (WA) Pty Ltd 38 Station Street
Subiaco, WA 6008 Australia
Telephone: (+61 8) 6382 4600
Facsimile: (+61 8) 6382 4601
Banker:
National Australia Bank
Perth Central Business Banking Centre UB13.03, 100 St Georges Terrace Perth WA 6000 AUSTRALIA
Telephone: (+61 8) 9441 9530
Facsimile: Australia 1300 652 390
Lawyer:
Allen & Overy
Level 27, Exchange Plaza 2 The Esplanade
Perth WA 6000 AUSTRALIA
Telephone: (+61 8) 6315 5900
Facsimile: (+61 8) 6315 5999
Share Registry:
Computershare Investor Services Pty Limited Level 11, 172 St Georges Terrace
Perth WA 6000 AUSTRALIA
Telephone: (+61 8) 9323 2000
Facsimile: (+61 8) 9323 2033
Registered and Principal Office:
Suite 6, Ground Floor South Mill Centre
9 Bowman Street South Perth WA 6151
Telephone: (+61 8) 9474 2995
Facsimile: (+61 8) 9474 2937 Website: www.ferrumcrescent.com Email: [email protected]
Stock Exchange Listings:
Ferrum Crescent Limited's ordinary shares are listed on the Australian Securities Exchange (ASX:FCR), and the JSE Limited (JSE:FCR), and quoted on the AIM market of the London Stock Exchange plc (AIM:FCR)
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The Directors of Ferrum Crescent Limited ("Ferrum" or "the Company") (the "Directors") present their report for the financial year ended 30 June 2016.
Directors
The names and details of the Directors in office during the financial year and at the date of this report are set out below:
Each Director was in office for the entire reporting period unless otherwise stated.
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Mr Ed Nealon (Age 65), MSc Geology, Chairman, Non-Executive Director, resigned 16 December 2015
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Experience and expertise
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Mr Nealon is a geologist with 40 plus years' experience in the mining and exploration industry. After graduating in 1974, he commenced his career in South Africa with Anglo American Corporation, before moving to Australia in 1980 where he spent two years in exploration with the Rio Tinto Group.
He founded his own consulting company in 1983 and has practised in most of the world's major mining centres.
He is a member of the Australasian Institute of Mining and Metallurgy. Mr Nealon was the founder of Aquarius Platinum Ltd (ASX: AQP)
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Other current directorships
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Non-executive Chairman of Richland Resources Ltd (AIM: RLD), Non-executive Chairman of Bezant Resources plc (AIM: BZT)
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Former directorships over the past 3 years
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None
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Special responsibilities
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Until his resignation on 16 December 2015 Non-Executive Director,
Chairman of the board,
Member of the Audit Committee,
Member of the Remuneration Committee, Member of the Nominations Committee, Member of the Risk Management Committee.
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Interests in shares and options
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Ordinary Shares in Ferrum Crescent Limited
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25,884,421
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Options held in Ferrum Crescent Limited
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600,000
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Mr Klaus Borowski (Age 76),Dipl.Ing , Non-Executive Director
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Experience and expertise
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Mr Borowski is a metallurgical engineer by background, having studied in his home country of Germany. He first arrived in South Africa in 1966, where he was Technical Director of Dunsward Steel until 1979. After a short period in Europe within the steel industry, he returned to South Africa in 1982 and subsequently held several positions in the iron and steel industry in South Africa, including managing director of Krupp South Africa and as executive director of Industrial Metal Supply Co. In 1998, Mr Borowski formed Applied Metallurgical Technologies (Pty) Ltd, and, amongst other things, he was on the steering committee of Saldhana Steel (Pty) Ltd and Duferco Steel Processing.
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Other current directorships
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None
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Former directorships over the past 3 years
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None
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Special responsibilities
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Non-Executive Director
Chairman of the Remuneration Committee, Member of the Audit Committee,
Member of the Nominations Committee. Member of the Risk Management Committee.
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Interests in shares and options
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Ordinary Shares in Ferrum Crescent Limited
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-
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Options held in Ferrum Crescent Limited
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-
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