Mithril Resources Ltd
ABN 30 099 883 922
Consolidated Financial Statements
For the Year Ended 30 June 2016
ABN 30 099 883 922
Contents
For the Year Ended 30 June 2016
Page
Consolidated Financial Statements
Corporate Information 1
Directors' Report 2
Auditor's Independence Declaration under Section 307C of the Corporations Act 2001 15
Consolidated Statement of Profit or Loss and Other 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 Financial Statements 20
Directors' Declaration 55
Independent Audit Report 56
Corporate Information
30 June 2016
Directors
Mr Graham Ascough (Chairman, Non-Executive Director) Mr David Hutton (Managing Director)
Mr Donald Stephens (Non-Executive Director)
Company Secretary
Mr Donald Stephens
Registered Office
C/- HLB Mann Judd (SA) Pty Ltd 169 Fullarton Road
DULWICH SA 5065
Principal Place of Business 22B Beulah Road NORWOOD SA 5067
Share Registry
Computershare Investor Services Pty Ltd Level 5, 115 Grenfell Street
ADELAIDE SA 5000
Legal Advisors O'Loughlins Lawyers Level 2, 99 Frome Street
ADELAIDE SA 5000
Bankers
Bank SA
97 King William Street ADELAIDE SA 5000
Auditors
Grant Thornton Audit Pty Ltd Chartered Accountants Level 1, 67 Greenhill Road
WAYVILLE SA 5034
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Mithril Resources Ltd
ABN 30 099 883 922
Directors' Report
30 June 2016
Your directors submit their report for 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 Graham Ascough Non-Executive Chairman
Mr David Hutton Managing Director
Mr Donald Stephens Non-Executive Director
Names, qualifications, experience and special responsibilities
Graham Ascough, BSc, PGeo (Chairman, Non-Executive Director)
Graham Ascough is a senior resources executive with more than 25 years of industry experience evaluating mineral projects and resources in Australia and overseas. He has had broad industry involvement ranging from playing a leading role in setting the strategic direction for significant country- wide exploration programmes to working directly with mining and exploration companies.
Mr Ascough is a geophysicist by training and was the Managing Director of Mithril Resources Ltd from October 2006 until June 2012. Prior to joining Mithril in 2006, Mr Ascough was the Australian Manager of Nickel and PGM Exploration at the major Canadian resources house, Falconbridge Ltd (acquired by Xstrata Plc in 2006).
Mr Ascough is also Chairman of ASX listed Musgrave Minerals Ltd, PNX Metals Ltd and Avalon Minerals Ltd. He is a member of the Australian Institute of Mining and Metallurgy and is a Professional Geoscientist of Ontario, Canada. He has also been a Director of Reproductive Health Science Ltd and Aguia Resources Ltd in the last 3 years.
David Hutton, BSc, (Managing Director)
David Hutton is a geologist who has spent the last 24 years working in both exploration and mining throughout Australia and overseas. After graduation, he spent 7 years with the MIM Group before joining Forrestania Gold NL / LionOre Australia, where he was involved in gold exploration throughout the WA Goldfields. He worked at Western Metals as Chief Geologist of the Lennard Shelf Operations prior to rejoining LionOre Australia where he was responsible for management of the East Kimberley Nickel Joint Venture. Prior to commencing with Mithril Resources Ltd in June 2012, David worked at Breakaway Resources where he was most recently Managing Director from May 2010 to June 2012.
David is a Fellow of the AusIMM and a Member of the AIG.
Donald Stephens, BA(Acc), FCA (Non-Executive Director)
Donald Stephens is a Chartered Accountant and corporate adviser with over 30 years experience in the accounting industry, including 14 years as a partner of HLB Mann Judd (SA), a firm of Chartered Accountants. He is a director of Petratherm Ltd, Gooroo Ventures Ltd, Lawson Gold Ltd and is company secretary to Highfield Resources Ltd, Duxton Water Ltd and Petratherm Ltd. In the last 3 years he has been a Director of Papyrus Australia Limited, TW Holdings Ltd, Reproductive Health Science Ltd and CRW Holdings Ltd.
He holds other public company secretarial positions and directorships with private companies and provides corporate advisory services to a wide range of organisations. He is also the company secretary and is a member of the Company's audit committee.
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