NIUMINCO GROUP LIMITED
And Controlled Entities
ABN 44 009 163 919
2016 ANNUAL REPORT
Corporate directory 30 June 2016
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DIRECTORS:
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Mr Tracey Lake (Managing Director) Prof Ian Plimer (Chairman)
Mr Matthew Roberts Mr Neill Arthur
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SECRETARY:
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Mr Mark Ohlsson
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REGISTERED AND PRINCIPAL OFFICE:
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Suite 50, 14 Narabang Way
Belrose, NSW 2085
Telephone: (02) 9450 0828
Facsimile: (02) 9450 0877
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SHARE REGISTRAR:
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Security Transfer Australia Pty Ltd PO Box 52
Collins Street West VIC 8007 Telephone: (08) 9315 2333
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HOME EXCHANGE:
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Australian Securities Exchange (Sydney) Limited ASX Code: NIU
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The company's shares are also listed on the Port Moresby Stock Exchange Ltd (POMSoX Code:NIU)
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AUDITORS:
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PricewaterhouseCoopers Darling Park Tower 2 201 Sussex Street
Sydney NSW 2000
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BANKERS:
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National Australia Bank
Cnr Florence & Hunter Street Hornsby NSW 2077
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WEBSITE ADDRESS:
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www.niuminco.com.au
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Table of Contents 30 June 2016
Directors' report 8
Auditor's independence declaration 14
Financial statements:
Consolidated statement of comprehensive income 16
Consolidated statement of financial position 17
Consolidated statement of changes in equity 18
Consolidated statement of cash flows 19
Notes to the consolidated financial statements 21
Directors' declaration 49
Independent auditor's report to the members 50
Shareholder information 53
These financial statements are the consolidated financial statements of the consolidated entity consisting of Niuminco Group Limited and its subsidiaries. The financial statements are presented in Australian currency.
Niuminco Group Limited is a company limited by shares, incorporated and domiciled in Australia. Its registered office and principal place of business is:
Niuminco Group Limited Suite 50, 14 Narabang Way
Belrose NSW 2085
The financial statements were authorised for issue by the directors on 30 September 2016. The directors have the power to amend and reissue the financial statements.
Through the use of the internet, we have ensured that our corporate reporting is timely and complete. All press releases, financial reports and other information are available in the Investor Relations section on our website: http://www.niuminco.com.au/
DIRECTORS' REPORT
Directors' report (continued) For the year ended 30 June 2016
Your directors present their report on the consolidated entity (referred to hereafter as the Group) consisting of Niuminco Group Limited (referred to hereafter as the Company) and the entities it controlled at the end of, or during, the year ended 30 June 2016.
DIRECTORS
The names and details of the Company's directors in office during the financial year and until the date of this report are as follows. Directors were in office for this entire year unless otherwise stated.
Mr Tracey Lake - Managing Director
Appointed 1 May 2012
Mr Lake holds a Bachelor of Commerce degree (Major - Accounting & Finance) from the University of NSW. He has held the position of Chief Executive Officer and been a principal shareholder in both private and public companies, and has over 35 years business experience in a number of industries.
Mr Terence Willsteed -Chairman (Resigned 26 November 2015)
Appointed Non-Executive Director 9 May 2011, appointed Non-Executive Chairman 1 August 2013
Professor Ian Plimer - Non-Executive Director
Appointed 9 May 2011, appointed Chairman 26 November 2015
Professor Ian Plimer BSc [Hons], PhD, FGS, FTSE, FAusIMM, is Emeritus Professor at The University of Melbourne where he was Professor and Head (1991-2005). He was Professor of Geology (University of Newcastle 1985-1991) and Professor of Mining Geology (University of Adelaide 2005-2012). He has been awarded the prestigious Leopold von Buch Medal for Science, the Centenary Medal, the Eureka Prize (twice) and is a Fellow of the Academy of Technological Sciences and Engineering, a Fellow of the Geological Society of London and a Fellow of the Australasian Institute of Mining and Metallurgy.
Professor Plimer's main geological interests are in ore deposits in base metal deposits (particularly in Broken Hill) and epithermal precious metals. He serves on the Boards of listed companies Silver City Minerals Ltd [ASX:SCI; 21st Feb. 2011-present]; Kefi Minerals Ltd (AIM:KEFI]; (Nov. 2006-present); Lakes Oil NL [ASX:LKO], (27th January 2013 - present), Sun Resources NL (23th September 2014 -May 2016) and unlisted companies Hancock Prospecting companies [Roy Hill Holdings Pty Ltd, Hope Downs Iron Ore Pty Ltd, Queensland Coal Investments Pty Ltd] and TNT Mines Ltd. He was on the Boards of CBH Resources Ltd (1998-2010), Ormil Energy Ltd (2010-2012) and Inova Resources Ltd (2007-2013).
Mr Matthew Roberts - Non-Executive Director
Appointed 26 November 2015
Matthew Roberts is a non-executive director of Australian Metals Group Limited, and a director of Atlantic Pacific Securities Pty Ltd and is the Managing Director of Ascot Securities Pty Ltd and has extensive industry experience. He has a proven track record of successfully building financial services businesses both in Australia and the UK.
Mr Neill Arthur - Non-Executive Director
Appointed 26 November 2015
Chairman of Arthur Management Services Pty Ltd and non-executive director of Australian Metals Group Limited. Neill is a former Managing Director of Aulron Energy Limited, an ASX S&P 200, UK and German listed public company involved in gold, iron ore (in South Australia), base metals and coal exploration, power and mining development projects in Australia, EU, North America and Asia. Neill has been Chairman and/or a director of listed and unlisted public companies in Australia and overseas with over four decades of experience, and was a Director of The Australasian Institute of Mining and Metallurgy from 2004 to 2010
