annual report

THE VISION

Avenira Limited has a long-term vision to develop a portfolio of agricultural minerals and production assets that will build long term shareholder value by supplying the agricultural nutrients needed to help address a fundamental issue of global food security.

CORPORATE STRATEGY

To become a major contributor to the world nutrient market through the development of a carefully selected portfolio of valuable phosphate and other nutrient projects.

BAOBAB, SENEGAL (80% OWNED)

• Senegal is stable and mining friendly

• Phosphate is a vital commodity

• Sedimentary rock phosphate mineralisation

• Simple open pit mining, unconsolidated sand

• Wet screening plant commissioned August 2016

• Production commenced August 2016

• First shipment expected second half 2016

• Good proximity to existing markets

• Progress to full Mining Concession underway

WONARAH, AUSTRALIA (100% OWNED)

• One of Australia's largest known JORC and NI 43-101 compliant phosphate resources

• Validation of IHP technology is required to liberate value in Wonarah

  JDCPHOSPHATE, USA (APPROX. 8% HOLDING)

• JDCP owns a proprietary phosphate technology, Improved Hard Process (IHP)

• Validation of IHP delayed due to now resolved technical issues and ongoing funding activities

• Avenira is currently the only licensee for IHP with exclusive rights for Australia and Senegal

02 Corporate Information 03 Chairman and Managing Director's Review 04 Directors' Report 19 Corporate Governance Statement 29 Auditor's Independence Letter 31 Consolidated Statement of Comprehensive Income 32 Consolidated Statement of Financial Position 33 Consolidated Statement of Changes in Equity 34 Consolidated Statement of Cash Flows 35 Notes to the Consolidated Financial Statements 77 Directors' Declaration 78 Independent Auditor's Report 80 ASX Additional Information

ABN 48 116 296 541

DIRECTORS

Richard H (Dick) Block

(Independent Non-executive Chairman)

Cliff Lawrenson

(Managing Director and CEO)

Ian McCubbing

(Independent Non-executive Director)

Timothy Cotton

(Non-executive Director)

Farouk Chaouni

(Non-executive Director)

David Mimran

(Non-executive Director)

Christopher Pointon

(Independent Non-executive Director)

COMPANY SECRETARY

John Ribbons Rodney Wheatley

REGISTERED OFFICE

Ground Floor, 20 Kings Park Road West Perth, WA 6005

PRINCIPAL PLACE OF BUSINESS

Ground Floor, 20 Kings Park Road West Perth, WA 6005

SOLICITORS

Richard O'Shannassy & Co Pty Ltd Level 3, 46 Ord Street

West Perth, WA 6005

DLA Pipes Australia Level 31, Central Park

152-158 St Georges Terrace Perth, WA 6000

BANKERS

National Australia Bank Limited 1232 Hay Street

West Perth, WA 6005

SHARE REGISTER

Computershare Investor Services Pty Limited Level 11, 172 St Georges Terrace

Perth, WA 6000

Telephone: 1300 787 272

AUDITORS

Ernst & Young

11 Mounts Bay Road Perth, WA 6000

INTERNET ADDRESS

www.avenira.com

EMAIL ADDRESS

fr[email protected]

STOCK EXCHANGE LISTING

Avenira Limited shares are listed on the: Australian Securities Exchange (Code: AEV)