ritz carlton hotel, singapore - asx · 2011-10-18 · ritz carlton hotel, singapore 25 october 2011...
TRANSCRIPT
Ritz Carlton Hotel, Singapore25 October 2011A unique opportunity to hear the latest business strategies and outlooks from a selection of
emerging market leaders in the small and mid cap segment of the Australian market.
ASX Small to Mid Caps
Supported by
ASX 42186 Small to Mid Caps Singapore cover.indd 1 30/09/11 11:31 PM
Welcome
Welcome to ‘ASX Small to Mid Caps’, an event that showcases some of Australia’s leading small and
mid cap companies and at the same time provides a valuable snapshot of the significant investment
opportunities in the Australian Equity Market.
The ASX Small to Mid Caps conference is a global series hosted in Singapore, Hong Kong, London
and New York every year. This event is the fourteenth in the series and the third of its kind in Singapore.
ASX Small to Mid Caps is a result of co-operation between the Australian Securities Exchange,
the supporting brokers and investment banks, and a select group of listed companies. It continues
to attract strong support from the broking and investment community in Singapore demonstrating
confidence in the considerable investment fundamentals of the Australian market.
The companies involved in the event, with capitalisations generally below A$1 billion, represent an
important segment of the Australian market that does not always get the international exposure it
deserves. Importantly, from the Singapore investor perspective, the event is an opportunity to meet a
broad representation of companies from a variety of sectors at one single venue.
During the course of the day, it will become clear that investment in the Australian Equity Market
provides excellent exposure to the ongoing and projected growth of emerging economies in the
Asia-Pacific region – exposure which is importantly provided within a stable and reputable market
environment.
We would like to welcome you to today’s event and thank you, our event supporters and participating
ASX listed companies, for helping to make it such a great success.
We look forward to seeing you again in 2012.
Richard Murphy Will Wilson
General Manager, Equity Markets General Manager, Sales and Marketing
Australian Securities Exchange Australian Securities Exchange
ASX 42186 Small to Mid Caps Singapore cover.indd 2 30/09/11 11:31 PM
Tuesday October 25
8.30am REGISTRATION WITH BREAKFAST
8.55am WELCOMEADDRESS-ASX
9.00am BCIronLimited
9.25am GoldOneInternationalLimited
9.50am CerroResourcesNL
10.15am MetmincoLimited
10.40am MORNING BREAK
11.00am HawkleyOil&GasLimited
11.25am PanoramicResourcesLimited
11.50am BathurstResourcesLimited
12.15pm GREngineeringServicesLimited
12.40pm LUNCH
1.30pm AustalLimited
1.55pm ThornGroupLimited
2.20pm Slater&GordonLimited
2.45pm ToxFreeSolutionsLimited
3.10pm AFTERNOON BREAK
3.30pm BionomicsLimited
3.55pm RevaMedical,Inc.
4.20pm QRxPharmaLimited
4.45pm PhosphagenicsLimited
FOLLOWEd By dRINKS RECEpTION
8.00am - 5.45pm One-on-One meetings
Agenda–Singapore
Venue details
TheRitzCarlton
7RafflesAvenue
Singapore
Tel: +6563378888
Fax: +6563380001
ThewelcomeaddressandpresentationsbytheASXlisted
companiesarebeingheldintheChihulyRoom2(level3)
oftheTheRitzCarltonHotel.
One-on-one meetings
One-on-onemeetingsbetweeninvestorsandASXlisted
companiesarebeingheldonlevel4.Foreachmeeting
scheduledyouwillbeinformedoftheroomnumbervia
ouronlinebookingagenda.Tobookormakechanges
toanyone-on-onemeetings,reporttoSaraLewisatthe
‘One-on-oneConciergeDesk’onlevel4.Sarawillcheck
availabilityandscheduleameetingforyou.
Name badges
Youshouldhavebeenissuedwithanamebadgeon
registration.Ifyouhavenotreceivedone,reporttothe
RegistrationDeskonlevel3.
Access to company presentations post-event
Companypresentationsandvideoswillbemade
availablefollowingtheconferenceatwww.asx.com.au/
smalltomidcaps/asia
ASX contact details
Sara LewisEventManager,ASX
Andrew MusgraveRegionalManager,Asia
GeneralInformation
All content is provided by the conference supporters and listed companies; ASX takes no responsibility for the information included.
BCIronLimitedisanironoreproducerandexporter
basedinthePilbararegionofWesternAustraliaand
joinedtheranksofAustralia’sironoreproducersin
2011,transitioningfromexplorertoproducerinjust
overfouryears.
OperationsBCIron’scoreassetistheNullagineIronOreJoint
Venture,a50/50jointventurewithFortescueMetals
Group,locatedinthePilbararegionofWestern
Australia.TheJointVentureusesFortescue’s
infrastructureatChristmasCreek,50kmsouthofthe
Mine,torailitsoretoPortHedlandfromwhereitis
shippeddirectlytocustomersoverseas.
Recent developmentsMiningoftheDirectShippingOrebeganatthe
NullagineIronOreJointVentureinNovember2010.
InJanuary2011,BCIronachievedasignificantand
historicalmilestonebysuccessfullybecomingthe
firstjuniorcompanytoaccessandutiliseathirdparty
ownedrailinthePilbara.Thiswasquicklyfollowed
by‘FirstOreOnShip’(FOOS)inFebruary2011using
Fortescue’sHerbElliottPortinPortHedland.
Resources / Reserves EstimatesTheNullagineIronOreProjectcurrentlyhostsa
ProbableOreReserveof36Mtat57percentIron(Fe)
attheCoongan,OutcampandWarrigalWelldeposits
withinamineralresourceof101.7Mtat54.1percent
Fe.
Thehighquality“BonnieFines”productisaDirect
ShippingOrewhichisa‘firstclass’sinterfeedwithlow
impurities.
Significant Contractual ArrangementsInAugust2009,BCIronformallyestablisheda50/50
jointventurewithFortescueMetalsGrouptocreatethe
NullagineIronOreJointVenture.InNovember2009,
theJointVenturesecureditsfirstoff-takeagreement
for20Mtover8.5yearswithHenghouIndustries(Hong
Kong)Limited.ThisagreementincludedUS$50min
pre-paymentsforprojectfinancetoensurefinancial
viabilityoftheProjectthroughthefinalstagesof
developmentandintoproduction.
Future OutlookInlate2011,theNullagineIronOreJointVenture
isexpectedtoreachaninterimproductionrateof
>3Mtpabeforeincreasingthisrateto5Mtpaby30
June2012.Astrongincreaseinoperatingcashflow
isforecastbyJune2012duetoasignificantrisein
theproductionrate.BCIroncontinuestoassess
acquisitionopportunitiesinAustralia,AfricaandSouth
America.
9.00am–BCIronLimited(ASX:BCI)
Mineral Resources and Ore Reserves
Mineral Resources and Ore Reserves at 30 June 2011.
Table 1: Ore Reserve Estimate by Deposit – NIOJV (BC Iron 50%, Fortescue 50%)
Mt Fe% CaFe% Al2O3 % SiO2 % P % S % LOI1000
Outcamp 18.3 56.8 64.7 1.92 3.17 0.014 0.010 12.2Coongan 6.0 57.0 65.0 1.84 2.54 0.011 0.012 12.4Warrigal 10.4 57.0 64.6 2.14 3.68 0.022 0.013 11.7
Total 34.7 56.9 64.7 1.97 3.21 0.016 0.011 12.1
DepositProbable Ore Reserves by Deposit
Table 2: Combined Mineral Resource Estimate for 57% Fe DSO by Deposit – NIOJV (BC Iron 50%, Fortescue 50%)
Mt Fe% CaFe% Al2O3% SiO2% P% S% LOIOutcamp 19.5 56.9 64.8 2.03 3.07 0.014 0.010 12.1Warrigal 14.4 57.0 64.5 2.29 3.64 0.023 0.013 11.6Coongan 7.6 57.0 65.1 1.87 2.47 0.011 0.012 12.4Bonnie East 8.6 56.8 64.7 3.33 2.08 0.014 0.009 12.2Shaw River: Gap 11 2.8 57.1 63.4 2.88 4.79 0.021 0.029 10.1Total DSO 52.9 57.0 64.7 2.33 3.07 0.016 0.012 11.9
Deposit DSO Mineral Resources by Deposit
Table 3: Combined CID Mineral Resource Estimate by Deposit – NIOJV (BC Iron 50%, Fortescue 50%)
Mt Fe% CaFe% Al2O3% SiO2% P% S% LOIOutcamp 37.9 53.8 61.8 2.83 4.44 0.015 0.010 12.9Warrigal 23.4 54.5 62.0 3.46 4.73 0.024 0.013 12.0Coongan 12.8 53.4 61.5 3.24 4.23 0.013 0.013 13.1Bonnie East 12.6 55.0 62.9 4.17 2.72 0.016 0.010 12.5Dandy 2.1 53.7 60.2 6.01 5.28 0.023 0.020 10.8Shaw River 14.0 54.4 61.2 5.12 4.36 0.021 0.027 11.2Total CID 102.9 54.1 61.8 3.57 4.28 0.018 0.014 12.4
DepositCID Mineral Resources by Deposit
Resources / Reserves Estimates
Table 4: Combined Mineral Resource Estimate for 57% Fe DSO by Classification – NIOJV (BC Iron 50%, Fortescue 50%)
Mt Fe% CaFe% Al2O3% SiO2% P% S% LOI1000
Measured 1.4 56.9 64.7 2.23 3.36 0.019 0.016 12.1Indicated 38.0 57.0 64.8 2.09 3.14 0.016 0.011 12.0Inferred 13.5 56.9 64.4 3.03 2.85 0.017 0.014 11.7
Total DSO 52.9 57.0 64.7 2.33 3.07 0.016 0.012 11.9
Classification DSO Mineral Resources by Classification
Table 5: Combined CID Mineral Resource Estimate by Classification – NIOJV (BC Iron 50%, Fortescue 50%)
Mt Fe% CaFe% Al2O3% SiO2% P% S% LOI1000
Measured 1.8 54.1 61.6 3.98 5.08 0.020 0.018 12.3Indicated 68.1 53.9 61.8 3.09 4.48 0.017 0.011 12.7Inferred 32.9 54.5 61.8 4.58 3.86 0.019 0.018 11.9
Total CID 102.9 54.1 61.8 3.58 4.29 0.018 0.014 12.4
ClassificationCID Mineral Resources by Classification
LOI = Loss on ignition at 1000°C
Calcined Fe (CaFe) = Fe% / (100 - LOI%) *100
The CID Mineral Resource is reported using a 45% Fe cut – off grade.
The DSO Mineral Resources is reported using cut-off grades between 53 and 56% Fe. The cut-off grades were selected to achieve a 57% Fe specification grade.
JORC Statement
The information that relates to the Mineral Resource Estimate at Outcamp, Warrigal, and Coongan has been compiled by Mr Richard Gaze who is a Member and Chartered Professional of the Australasian Institute of Mining and Metallurgy and an employee of Golder Associates, and Mr Mike Young who is a Member of the Australian Institute of Geoscientists and an employee of BC Iron. The resources were first reported on the ASX on 2 April 2009. The Outcamp resource estimate has been depleted by BC Iron to account for mining which commenced in November 2010. Both Mr Young and Mr Gaze have sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that they are undertaking to qualify as a Competent Persons as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Gaze and Mr Young consent to the inclusion in their names in the matters based on their information in the form and context in which it appears.
The information that relates to the Mineral Resource Estimate at Bonnie East, Dandy and Shaw River has been compiled by Mr Gregory Hudson who is a Member of the Australian Institute of Geoscientists and an employee of BC Iron, and Mr Mike Young who is a Member of the Australian Institute of Geoscientists and an employee of BC Iron. The Bonnie East resources were first reported on the ASX on 2 April 2009, the Shaw River resources were first reported on the ASX on 30 July 2010, and the Dandy resources were first reported on the ASX on 20 September 2011. Both Mr Young and Mr Hudson have sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that they are undertaking to qualify as a Competent Persons as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Hudson and Mr Young consent to the inclusion of their names in the matters based on their information in the form and context in which it appears.
The information that relates to the Ore Reserve has been compiled by Mr Blair Duncan who is an employee of the Company and a Member of the Australasian Institute of Mining and Metallurgy. Mr Duncan has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Duncan consents to the inclusion of his name in the matters based on his information in the form and context in which it appears.
Mike YoungManaging Director
Notes
GoldOneisagoldproducerlistedonthefinancial
marketsoperatedbytheASXLimitedandtheJSE
Limited,issuercodeGDO.Itsflagshipoperationis
thenewlybuiltshallowModderEastmineontheEast
Rand,some30kilometresfromJohannesburg.
ModderEastisthefirstnewminetobebuiltin
theregionin28yearsanddistinguishesitselffrom
mostoftheothergoldminesinSouthAfricaowingto
itsshallownature(300metresto500metresbelow
surface).TodateModderEasthasprovideddirect
employmentopportunitiesforover1,500people.Gold
OnealsoownsthenearbyexistingSubNigelmine,
whichisusedprimarilyasatrainingcentreinthebuild-
upofModderEasttofullproduction.GoldOne’sother
projectsandtargetsincludeVentersburginthe
FreeStateGoldfields,theTuloconcessionin
MozambiqueandtheEtendekagreenfieldprojectin
Namibia.
OperationsModderEast–inproduction
Ventersburg–inpre-feasibility
TuloandEtendeka–earlystageexploration
Recent developments• Spun-outdeeperlevelassetscreatingGoliath
Gold*
• AcquiredgoldproducerRandUraniumforUS$250
million*
• IntroductionoflongtermstrategicChinese
shareholderwithaminimumcapitalinjectionofA$
150millionandA$0.55coffertoallshareholders
• NegotiatedaUS$210milliondebtfacilityforRand
Uraniumacquisition *Deal completion subject to conditions precedent.
Resources / Reserves EstimatesThecompany’sprovedandprobablereservesat
ModderEastis1.53millionounces(including11.93
milliontonnesat4.0gramspertonne).
Totalresourcebaseto21.71millionouncesof
gold,includinga8.60millionouncesinthemeasured
andindicatedresourcecategories(88.09million
tonnesat3.03gramspertonne)and13.11million
ouncesintheinferredcategory(103.06milliontonnes
at3.95gramspertonne).
Significant Contractual ArrangementsGoldOneowns71%ofGoliathGold,aJSE-listed
golddevelopmentcompanywitharesourcecurrently
comprising3.02-millionounces(including21.55-million
tonnesat4.36gramspertonne)intheindicatedcategory
and9.63-millionounces(including64.62-milliontonnes
at4.64gramspertonne)intheinferredcategory.
Future OutlookFor2011,productionguidanceof120000ouncesis
forecastatacashcostofUS$417perouncefrom
existingoperations.
Productionissettodoubleasthecompany
completestheacquisitionofgoldproducerRand
UraniumforUS$250million,withRandUranium
havingproduced163,000ouncesofgoldin2010.
RandUraniumwilladdsome3millionouncesofgold
mineral(ore)reservesaswellas13.5millionouncesof
goldmineralresources(seedetailedmineralresource
andmineral(ore)reservetable).Additionally,Rand
UraniumwillallowGoldOnetheuniqueopportunityto
considergoldanduraniumco-productoptimisation
whenundertakingproductionplanning,givenRand
Uranium’sextensiveuraniummineralresource
(approximately90millionpounds)andmineral(ore)
reserve(approximately41millionpounds).
GoldOneisalsoclosetocompletingthe
introductionofanew,longtermstrategicpartnerand
majorshareholder,whenaconsortiumcomprising
BaiyinNon-FerrousGroup,theChina-Africa
DevelopmentFundandLongMarchCapitalGroup
willinjectaminimumofA$150millionintoGoldOne,
withtheultimateaimofsecuringa60%to75%
shareholdinginthecompany.
9.25am–GoldOneInternationalLimited(ASX:GDO)
COMPETENT PERSONThe information in this release that relates to exploration results, mineral resources or ore reserves is based on information compiled by Dr Richard Stewart, who has a doctorate in geology and who is a professional natural scientist registered with the South African Council for Natural Scientific Professions (SACNASP), membership number 400051/04. Dr Stewart is also a member of the Geological Society of South Africa (GSSA) and Senior Vice President: Business Development for Gold One, with which he is a full‐time employee. He has 10 years’ experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking, to qualify as a Competent Person for the purposes of both the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) and the 2007 Edition of the South African Code for Reporting of Exploration Results, Mineral Resources and Mineral Reserves (SAMREC Code). Dr Stewart consents to the inclusion in this release of the matters based on information compiled by Gold One employees and it’s consultants in the form and context in which they appear. Further information on Gold One’s resource statement is available in the pre‐listing statement of Gold One International Limited issued on 19 December 2008 and in the resource statements released by Gold One on the ASX Announcements Platform and the Stock Exchange News Service (SENS) on 11 October 2010 (Megamine), 7 December 2010 (Ventersburg), and 15 December 2010 (Modder East).
SAMREC AND JORC TERMINOLOGY In addition, this release uses the terms ‘indicated resources’ and ‘inferred resources’ as defined in accordance with the SAMREC Code, prepared by the South African Mineral Resource Committee (SAMREC), under the auspices of the South African Institute of Mining and Metallurgy (SAIMM), effective March 2000 or as amended from time to time and where indicated in accordance with the Canadian National Instrument 43‐101 – Standards for Disclosure for Mineral Projects. The terms ‘indicated resources’ and ‘inferred resources’ are also defined in the 2004 Edition of the JORC Code, prepared by the Joint Ore Reserves Committee (JORC) of the Australasian Institute of Mining and Metallurgy (AusIMM), the Australian Institute of Geoscientists (AIG) and the Minerals Council of Australia (MCA). [The use of these terms in this release is consistent with the definitions of both the SAMREC Code and the JORC Code.] A mineral reserve (or ‘ore reserve’ in the JORC Code) is the economically mineable part of a measured or indicated resource demonstrated by at least a preliminary feasibility study. This study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate at the time of reporting that economic extraction can be justified. A mineral reserve includes diluting materials and allows for losses that may occur when the material is mined. A proven mineral reserve (or ‘proved ore reserve’ in the JORC Code) is the economically mineable part of a measured resource for which quantity, grade or quality, densities, shape and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters to support production planning and evaluation of the economic viability of the deposit. A probable mineral reserve (or ‘probable ore reserve’ in the JORC Code) is the economically mineable part of an indicated mineral resource for which quantity, grade or quality, densities, shape and physical characteristics can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters to support mine planning and evaluation of the economic viability of the deposit. A mineral resource is a concentration or occurrence of natural, solid, inorganic or fossilised organic material in or on the earth’s crust in such form and quantity and of such a grade or quality that it has reasonable prospects for economic extraction. The location, quantity, grade, geological characteristics and continuity of a mineral resource are known, estimated or interpreted from specific geological evidence and knowledge. A measured mineral resource is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drillholes that are spaced closely enough to confirm both geological and grade continuity. An indicated mineral resource is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drillholes that are spaced closely enough for geological and grade continuity to be reasonably assumed. An inferred mineral resource is that part of a mineral resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited exploration and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drillholes. Mineral resources which are not mineral reserves do not have demonstrated economic viability. Investors are cautioned not to assume that all or any part of the mineral deposits in the measured and indicated resource categories will ever be converted into reserves. In addition, “inferred resources” have a great amount of uncertainty as to their existence and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will be ever be upgraded to a higher category. Under South African and Australian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre‐feasibility studies or economic studies except under conditions noted in the SAMREC Code and the JORC Code, respectively.Investors are cautioned not to assume that all or any part of an inferred resource exists or is economically or legally mineable. Exploration data is acquired by Gold One and its consultants under strict quality assurance and quality control protocols. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
2
Competent Person
Resources / Reserves Estimates
1
Gold One International Consolidated Mineral Resource Statement Tonnes Grade Gold content
Measured (Mt) (g/t) (Moz)Modder East 1,2 0.29 16.25 0.15
Total Measured: 0.29 16.25 0.15
Indicated Modder East 1,2 45.83 2.02 2.98Megamine 3 21.55 4.36 3.02Ventersburg 4 20.42 3.70 2.45
Total Indicated: 87.80 2.99 8.45Total Measured and Indicated: 88.09 3.03 8.60
InferredModder East 2 20.73 1.81 1.21New Kleinfontein and Turnbridge 5 4.27 6.00 0.83Ventersburg 4 13.44 3.31 1.44Megamine 3 64.62 4.64 9.63
Total Inferred: 103.06 3.95 13.11Total Measured, Indicated and Inferred: 6 191.15 3.53 21.71
1 Mineral Resources are quoted inclusive of ore reserves
2 Signed-off by Minxcon, independent resource consultants to Gold One, audited by SRK3 Signed-off by Dr I.C. Lemmer and Minxcon, independent resource consultants to Gold One, audited by SRK 4 Signed-off by Dr I.C. Lemmer, independent resource consultant to Gold One, audited by SRK 5 Signed-off by Camden Geoserve, independent resource consultants to Gold One, audited by SRK6 Resources are reported in accordance with SAMREC guidelines (estimates would be identical if reported in accordance with JORC standards)
Gold One International Mineral (Ore) Reserve Statement1,2
Tonnes Grade Gold content(Mt) (g/t) (Moz)
Modder East Proved Reserves 0.24 10.90 0.08Probable Reserves 11.69 3.86 1.45Probable and Proved Reserves 11.93 4.00 1.53
1 Signed off by Turgis Consulting, independent resource consultants to Gold One, audited by SRK,
BPLZ was estimated at a cut-off of 149 cmg/t and UK9A estimated at a cut-off of 146 cmg/ton2 Reserves are reported in accordance with SAMREC guidelines (estimates would be identical if reported in accordance with JORC standards)
Gold One Resources
CerroResourcesNLisaduallistedglobalgold,silver
andmetalsexplorationanddevelopmentcompany.Its
sharestradeunderthesymbol“CJO”onboththeASX
andTSX.V.
CerroResourceshasaprimaryfocusonprecious
materialsinMexicoandanadvancinghaematiteiron
projectinQueensland,Australia.
Operations• Nearing“decisiontomine”onits66%owned
(Goldcorp34%)CerrodelGallogold/silverproject,
inthecentralstateofGuanajuato,Mexico.The
projecthasthesubstancetodeliverattractive
longtermcashflowstothecompany.Ithasan
anticipated14yearminelifewith1+MozAuand
10+MozAgrecovery
• Anaggressiveexplorationprogramunderwayat
theNamiquipaSilverPropertywhichincludesthe
LaVenturosaSilverMine.Thishasahistorical
productionof14+Mozofsilver,32,550tleadand
43,530tzinc
• AtMtIsa,Queensland,CerroResourceshas
completeddrillingforafirststageresource
estimate.Beneficiationtestworkdemonstrateshigh
(68%)irongradesareachievable
• Continuestoreviewandpursuepreciousmetals
explorationopportunitiesinMexico
Significant Contractual Arrangements• JointownershipoftheSanAntonprojectwith
Goldcorp(34%)
Future OutlookCerroResourceshasanexperiencedteam,witha
wealthofindustryexperienceandpriorsuccesses,
whointendtoaggressivelyadvanceitspipelinetothe:
• CerrodelGallogold/silveradvanceddevelopment
stageprojectincentralMexico;
• NamiquipasilverexplorationprojectinMexico;
• MtPhiliphaematileironprojectinQueenslandand
• OtherPreciousmetalsexplorationinMexico.
9.50am–CerroResourcesNL(ASX:CJO)
CERROresources
Resources / Reserves EstimatesCerro del Gallo project, Mexico
WithintheCerrodelGalloProjectisagolddomainwhichcontainsmaterialamenabletoheapleachandCIL
processingasfollows:
Total
Category K Tonnes g Au/t K Ozs Au g Ag/t K Ozs Ag
Proven 28,246 0.71 643 15.05 13,664
Probable 3,971 0.54 69 13.20 1,685
ProvenandProbable 32,217 0.69 712 14.82 15,349
Measured 39,888 0.66 850 14.32 18,358
Indicated 5,125 0.61 100 10.07 1,659
Measured&Indicated 45,013 0.66 951 13.83 20,017
Total Resource and Reserve 77,231 0.67 1,663 14.24 35,366
Proven&ProbablereservesandMeasuredandIndicatedresourcesarereportedusinggoldequivalentcutoff
gradesof0.21and0.29g/tforweatheredandpartiallyoxidizedmaterialrespectively.Thegoldequivalentcut-off
gradefortheMeasuredandIndicatedresourcesfreshrockmaterialis0.35g/t.
Reported-CerroResourcesannouncementdatedApril11,2011
Competent Person/Qualified PersonThe information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr John Skeet material), who is a Member of the Australasian Institute of Mining and Metallurgy and Mr Trevor Leahey , who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Skeet is the Chief Operations Officer of Cerro Resources NL and Mr Trevor Leahey is a consultant to Cerro Resources NL. They have sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2004 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” and “qualified persons” as this term is defined in Canadian National Instrument 43-101 (“NI 43-101”). Mr Skeet and Mr Leahey consent to the inclusion in the report of the matters based on their information in the form and context in which it appears.
Forward-Looking InformationThis news release contains “forward-looking information” under Canadian securities law, including all statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur. Forward looking information is based upon assumptions by management that are subject to known and unknown risks and uncertainties beyond the Company’s control, including risks related to mining exploration and the availability of financing for companies such as the Company. There can be no assurance that outcomes anticipated in the forward looking information will occur, and actual results may differ materially for a variety of reasons. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking information, except as may be required by law. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Metminco(MNC),incorporatedinAustralia,isanASX
andAIMlistedminingexplorationcompany.Ithas
abroadportfolioofexplorationprojectslocatedin
ChileandPeru,mainlyfocusedoncopper,butwith
significantexposuretogold,molybdenumandzinc.
Projectsrangefromearlystageexploration,through
advancedexploration,topre-feasibility.
OperationsMetminco’sofexplorationprojectsincludeLosCalatos
insouthernPeru,andMollacas,Vallecillo,Camaron,
LaPiedra,IsidroandLoicainChiletothenorthof
Santiago.
TheMollacascopperleachprojectispresently
beingadvancedtoaFeasibilityStudystage,whereas
theVallecillo(LaColoradoarea)andLosCalatos
projectsareatanadvancedexplorationstage,witha
ScopingStudybeingplannedfortheformerinmid-
2012,andapre-feasibilitystudyforthelatterinearly
2013.
LosCalatosrepresentstheCompany’spremier
projectbyvirtueofitscurrentlydefinedmineral
resource,andthepotentialthatexiststoincreasethe
resource,basedonrecentdrillingresults.
Recent developmentsDrillingresultsattheLosCalatosProject,asreported
totheASXandAIMon22August2011,continueto
supportthepotentialoftheproject,whichwillformthe
subjectofarevisedmineralresourceestimatetobe
finalisedin2012.
Afullyfundeddrillingprogramcomprising16,000
metresofReverseCirculationdrillingand12,000
metresofDiamondDrillingwasinitiatedinJune2011,
focusingontheCompany’sMollacas,Vallecillo,
CamaronandLaPiedraprojectsinChile,whichis
scheduledforcompletioninearly2012.
DuringSeptember2011,thedrillingprogram
atMollacaswascompleted,whichinvolvedfurther
resourcedefinitiondrilling,geotechnicaldrilling,
condemnationdrillinganddrillingforadditional
metallurgicaltestworksamples,allofwhicharein
supportofaFeasibilityStudy,whichistocommence
shortly.
Significant Contractual ArrangementsOn30June2011,MineraHamptonChileLimitada
(MineraHampton)enteredintoanoptionagreementto
purchasea100%interestintheLaPiedraProject(La
PiedraOption).
TomaintaintheLaPiedraOption,MineraHampton
isrequiredtomakethefollowingoptionpayments:
• US$350,000onsigningtheLaPiedraOption(paid)
• US$350,000onbefore30June2012
• US$350,000onbefore30June2013
• US$1,000,000onorbefore30June2014.
ToexercisetheLaPiedraOption,MineraHampton
mustpayUS$28millionincash,orUS$14millionin
cashandUS$14millioninMetmincoLimitedshares
(atMetmincoGroup´selection),onorbefore30June
2015.
Future OutlookMetmincohasembarkedonanaggressiveexploration
campaign,designedtobothupgradeconfidence
levelsinitsexistingmineralresourcebase,andto
assessthepotentialofcertainofitsotherkeyprojects
inaportfoliothathasthepotentialtofacilitatethe
growthoftheCompanytobecomeasubstantial
producerofcopperintheRegion.
10.15am–MetmincoLimited(ASX:MNC)
Resources / Reserves Estimates
Table 1: Mollacas project - Mineral Resource as at November 2007Resource Tonnes Copper (%)
Indicated 7,213,000 0.56
Inferred 9,829,000 0.52 Note: Reported at a cut-off of 0.20% copper. Rounding may result in minor discrepancies.
Table 2: Los Calatos project - Mineral Resource as at August 2010Resource Tonnes Copper (%) Molybdenum (ppm)
Indicated 111,310,000 0.39 380
Inferred 815,398,000 0.37 260 Note: Reported at a cut-off of 0.20% copper. Rounding may result in minor discrepancies.
Table 3: Vallecillo project - Mineral Resource as at July 2009Resource Tonnes Gold (ppm) Silver (ppm) Zinc (%) Cu (%) Lead (%)
Indicated 7,889,700 1.14 11.39 1.32 0.05 0.29
Inferred 2,211,000 0.78 8.16 0.58 0.03 0.26 Note: Reported at a cut-off of 0.3g/t gold. Rounding may result in minor discrepancies.
Competent Persons StatementThe information included here is based on information compiled by Colin Sinclair, BSc, MSc, who is a Member of the Australasian Institute of Mining and Metallurgy and is a full-time employee of the Company as General Manager Exploration. Colin Sinclair has sufficient experience (over 30 years) which is relevant to the style of mineralisation, type of deposit under consideration, and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results’. Mr Sinclair, as Competent Person for this announcement, has consented to the inclusion of this information in the form and context in which it appears herein.
Hawkleyisanoilandgasexplorationandproduction
companybasedinPerth,WA.Ithaslicencesand
productionofgasandcondensateinthepeople’s
republicofUkraine,withoperationalactivitiesrun
outofanofficeinKievbyawholly-ownedUkrainian
subsidiarynamedPrimeGasLLC.Hawkleywaslisted
ontheASXinJune2010.
OperationsHawkleyisproducing6.4MMscf/dayofgasand
210bbls/dayofcondensatefromitsSorochynska
licenceinthePoltavaregionofnortheastUkraine.The
rawgasstreamispipedtoagasprocessingplant
wherecondensateissoldon-siteandtheprocessed
gasisdeliveredtoameteringpointbeforebeingfed
intothenationalnetwork.
Recent developmentsInMay2011,Hawkleyspuditsfirstwellinthe
Chernetskalicence.Theprimaryobjectiveofthe
Chernetska-1wellistoappraiseanundevelopedoil
discoverymadebytheUkrainianstateinanearbywell.
Resources / Reserves EstimatesAdeterminationinMay2010estimatedatotalof
130bcfinthetwolicences,comprisedof13bcfof
2Pgasreserves,60bcfofcontingentresources,and
57bcfofprospectiveresources.ACPRupdateis
inprogresstoincludetheresultsofthesuccessful
Sorochynska-201well.
Significant Contractual Arrangements:Hawkleyhas100%ownershipoftwolicencesfor
explorationandpilotproduction.
Future OutlookThecompanyaimstogrowthebusinessinUkraine
andtoexpandtheportfoliointoneighbouringcountries
inCentralandEasternEurope.
11.00am–HawkleyOilandGasLimited(ASX:HOG)
Notes
PanoramicResourcesLimited(PAN)isawell
establishedPerth-basedminingcompanythat
operatestheSavannahandLanfranchiunderground
nickelminesinWesternAustralia.ItisanS&P/ASXTop
200Companywithnodebtandagrowingresource
base,employingmorethan500people.
TheCompany’svisionistobroadenitsproduction
andexplorationbasewiththeaimofbecominga
majoranddiversifiedmininghouserankedintheS&P/
ASXTop100.Itisalreadyengagedinexplorationin
Australia,Canada,theU.S.andScandinavia,primarily
focusingonnickel,copperandgold,andisactively
expandingitssearchfornewprojects.
Thisthrustisledbyanexperienced,costefficient,
exploration-to-productionteamthathasalready
enabledPANtodevelopasubstantialandprofitable
revenuestream,providingitwiththecapitalbaseto
achieveitsvisionviaacquisitionsorjointventures.
OperationsByitssuccessfuldevelopmentoftheSavannah
project,PANhasdemonstrateditsabilitytoidentify
viableprojectsandtakethemfromtheresource
definitionphasethroughfeasibilitystudiesto
constructionandproduction.Itsexpertisehasalso
enabledittosubstantiallyincreaseproductionand
long-termprospectsbothforSavannahandthe
Lanfranchioperation,whichitacquiredin2004.
PANisinastrongfinancialposition.Inthe2010/11
financialyear,theCompanyproduced17,027tonnes
ofnickelandisforecastingtoproduce17,500to
18,500tonnesforthe2011/12financialyear.At30
June2011,theCompanyhadcashandreceivablesof
$126Mandnobankdebt.
Recent developmentsTheCompany’sfirstmajormovetodiversifyitsmining
interestswasundertakeninFebruary2011,with
theacquisitionoftheGidgeeGoldProject,located
640kilometresnorth-eastofPerth,whichincludesa
600,000tpaprocessfacility,a150personcampanda
significanttenementpackagecontaining310,000ozof
goldinresourceandsubstantialexplorationupside.
Significant Contractual ArrangementsPanoramichasanOff-takeAgreementwithJinchuan
GroupLtdforalltheNiconcentrateproducedfromits
SavannahNickelMineforatenyearperiodto2020,
alsowithBHPBillitonforalltheNiconcentratefromits
LanfranchiNickelMineuntil2019.
Future OutlookPANisusingitsfinancialstrengthpartlytopursue
furtheracquisitionsand/orjointventurestoimplement
itsplantobecomeamajor,diversifiedmininghouse,
andwillalsocontinuetoinvestheavilyinexploration
andtechnicalprogressinrelationbothtoitsexisting
nickelsulphideoperationsandthenewly-acquired
GidgeeGoldProject.
11.25am–PanoramicResourcesLimited(ASX:PAN)
Notes
BathurstResourcesfocusesonqualitycoalproduction
inNewZealand.TheflagshipoftheCompanyisthe
SouthBullerMinewhichaimstocommenceproducing
highqualityexportHardCokingCoal(“HCC”)starting
intheDecemberquarter2011.Firstexportwillcome
fromtheCascadeblockwhichisalreadyinproduction,
soontobesupplementedwithcoalfromBrookdale,
adjacenttotheCascadeopencut.Brookdalewill
initiallybeundergroundstartingataproductionrateof
around150ktpain2012,increasingto350ktpaover
2years.
Coalproductionwillincreasesignificantlyonceall
approvalsareinplacefortheEscarpmentoperation
whichwillinitiallycommenceat650ktpabuildingto1
mtpa.Bathurst’stargetistoproduceover2mtpaof
HCCfromSouthBuller.TheBullerProjectisaseries
ofopencastandundergroundminesnearWestport
ontheSouthIslandandisadjacenttoexisting
infrastructureandportfacilitiescapableofsupporting
theproductionprofile.
Bathurstalsoproducessome160,000tpaof
thermalcoalforthedomesticmarketfromitsTakitimu
MineinSouthlands.
OperationsBathursthasextensiveexplorationleasesonthe
DennistonPlateauaboveWestport,NewZealand,
whicharethefocusofexplorationactivityforthenext3
years,targetingHCCandsemi-softcoalfortheexport
market.TheseleasesformthebasisoftheSouth
andNorthBullerMineswhichtogetherformtheBuller
Project.
Ontheplateau,Bathurstalreadyoperatesthesmall
CascadeMine,currentlyproducingsome50,000tpa
ofcoalforlocalcementproduction,whichisbeing
rampeduptoaround100,000tpatosupplyboth
Holcimandtocommenceexportshipments.
BathurstalsooperatestheTakitimuMineat
Nightcaps,NewZealand,producingsome160,000
tpalargelyforthelocaldairyindustry.
Recent developmentsTheenvironmentalhearingsfortheBullerProject
commencedinJune2011withenvironmentalapproval
(resourceconsents)grantedbythelocalcouncilsin
August2011;howeverthislicenceisnowthesubject
ofappeal.Oncetheappealsareresolvedandfinal
approvalsfromtheDepartmentofConservationare
received,miningcancommenceattheEscarpment
Project.Thecurrentappealsprocessdoesnotaffect
CascadeorBrookdaleproduction.
Significant Contractual ArrangementsTheBathurstBullerProject,theBrookdale
developmentprojectandtheoperatingTakitimuand
CascadeMines,arewhollyownedbyBTU.
Bathursthascontractsinplacefordomesticcoal
fromTakitimuandCascadewithFonterraandHolcim
respectively.Bathurstalsohasanofftakeagreement
withStemcorfor37.5%oftheBullerproductionforthe
first5yearsandwithCITICAustraliafor30%ofBuller
production,alsoforatermof5years.Thecompany
alsohascontractsinplacewiththeportofWestport
andwithSolidEnergyNewZealand,whichunderwrite
thelogisticsstrategyofthecompany.
Future OutlookBathursttargetstobeproducinghighqualityexport
HCCbytheDecemberquarterof2011from
CascadewhichwillbesupplementedbyBrookdalein
2012.Initialcashcostsareestimatedtobearound
US$105/tonneFOB.OnceEscarpmentcomesinto
productionthesecostswillfalltoaboutUS$95/tonne
FOB,droppingfurthertoUS$85pertonneFOBas
productionincreasesto2mtpa.
11.50am–BathurstResourcesLimited(ASX:BTU)
Resources / Reserves Estimates
Competent Persons Statement: The information in this table that relates to exploration results and mineral resources for Deep Creek is based on information compiled by Neil Fraser who is a full time employee of Golder Associates Pty Ltd and is a member of the Australasian Institute of Mining and Metallurgy. Mr Fraser has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Fraser consents to the inclusion in the ASX release of the matters based on his information in the form and context in which it appears above. The information in this table that relates to exploration results and mineral resources other than Deep Creek and Whareatea West is based on information compiled by Dr James Pope, of CRL Energy of Christchurch New Zealand who is a consultant to the company through CRL Energy and is a member of the Australasian Institute of Mining and Metallurgy. Dr Pope has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Pope consents to the inclusion in the ASX release of the matters based on his information in the form and context in which it appears above. The information in this table that relates to Coal Resources for Whareatea West (EP 40591) is based on information complied by Mr Ian Poppitt of Lindsee Holdings Pty Ltd, who is a member of the Australasian Institute of Mining and Metallurgy. Mr Poppitt has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the JORC Code. Mr Poppitt consents to the inclusion in this presentation of the matters based on the information in the form and context in which it appears.Statement of Exploration Potential: The estimate of exploration potential was calculated by Bathurst using the results from historical mining and exploration as well as recent drilling undertaken by L&M Coal. The potential quantity and quality is conceptual in nature & there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in determination of a mineral resource.The information that relates to Coal Resources for Whareatea West (EP 40591) is based on information complied by Mr Ian Poppitt of Lindsee Holdings Pty Ltd, who is a member of the Australasian Institute of Mining and Metallurgy. Mr Poppitt has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the JORC Code. Mr Poppitt consents to the inclusion in this presentation of the matters based on the information in the form and context in which it appears.
STATUS PROSPECT RESOURCE(MT)
TOTAL (MT)
MEASURED ESCARPMENT 3.8 DEEP CREEK 6.2 WHAREATEA WEST(3) 18.0 28.0
INDICATED ESCARPMENT 1.6 NORTH BULLER 4.8 BLACKBURN 10.8 DEEP CREEK 3.1 MILLERTON NORTH 4.3 WHAREATEA WEST(3) 7.7 32.3
INFERRED ESCARPMENT 1.9 NORTH BULLER 9.0 DEEP CREEK 1.6 12.5
TOTAL JORC RESOURCE1 72.8 FURTHER POTENTIAL
TARGET MILLERTON 5 – 9
TARGET DENNISTON 16 – 35
TARGET BROOKDALE (DENNISTON) 15 – 25
TARGET WHAREATEA WEST 19 – 25 55 – 94
TOTAL RESOURCE TARGET2 ~125 – 167
GREngineeringServicesLimited(ASX:GNG)isaPerth
WesternAustraliabasedCompanywhichprovides
engineeringdesignandconstructionservicestothe
mineralprocessingindustry.WithofficesinPerth,
KalgoorlieandBrisbane,GREngineeringemploys
approximately190professionalandprofessional
supportpersonnelplusaconstructionworkforceof
100to300,dependingonconstructionactivityon
hand.
TheCompany’sseniormanagementhaveworked
togethersince1986whenJREngineeringServices
PtyLtdwasformed.In2001thatcompanywassoldto
alargeAustralianPublicCompany.
GREngineeringServicesLimitedwassubsequently
formedin2006andinApril2011itsshareswere
admittedforquotationontheOfficialListofthe
AustralianSecuritiesExchange.
TheCompanyhasdemonstratedconsistentgrowth
inrevenueandprofitabilitysinceinception.
TheCompanyhas150millionsharesonissueand
hasamarketcapitalisationintheorderof$AUD300
million.
OperationsTheCompanydesignsandconstructsmineral
processingandhandlingplants.Plantsareconstructed
withguaranteedoutcomesastoprice,performance
andtimeofconstruction.Thedesignandconstruction
phaseistypicallyundertakenaftertheCompanyhas
preparedafeasibilitystudyfortheclient.Thefeasibility
studyisthebasisonwhichtheclientsatisfiesitself
oftheeconomicsoftheprojectand,ifnecessarythe
basisuponwhichprojectfundingistobeobtained.
GREngineering’sbusinessmodelandoperations
areparticularlysuitedtosmallandmediumtier
producerswhorequirecertaintyastothecapital
costanddeliveryoftheirprojects.Aswellasbeing
engagedonmaidenprojectsforsmallandmedium
producers,theCompanyhassuccessfullyperformed
workformultinationalmininghouseswithexcellent
outcomesforallparties.
TheCompanyemploysapproximately190
professionalandprofessionalsupportstaff.The
Companyemploysanadditional100to300site
basedpersonnel,dependingonconstructionactivityat
thetime.
Sinceinception,GREngineeringServicesLimited
hasdelivered20constructioncontractsinvolvingthe
constructionofnewplants,upgrades,refurbishments,
plantrelocationsandplantexpansions.
TheCompanyiscurrentlyengagedonan
unprecedentednumberofover290studiesrelatingto
gold,arangeofbasemetalsandindustrialminerals.
Theprojectstowhichthesestudiesrelatearelocated
inAustralia,thePacificRim,AfricaandSouthAmerica.
ThemajorityoftheCompany’srevenueresultsfrom
theconversionoffeasibilitystudies,repeatbusiness
andnegotiatedwork.Workwonthroughtender
processesisminimal.
Recent developmentsOn23AugusttheCompanyannouncedrecordtrading
resultsfortheyearended30June2011.
TheCompanyiscurrentlyundertakingarecord
numberofstudiesongoldandbasemetalprojects
locatedinAustralia,Africa,thePacificRimandSouth
America.
Future OutlookAgainstabackdropofhistoricallyhighcommodity
prices,particularlygold,prospectsfortheCompany
arerobust.Withastrongerbalancesheetpostlisting,
theCompanyiswellpoisedtowinandexecutelarger
contracts,bothinAustraliaandoverseasfacilitatingits
strategyoforganicgrowth.
TheCompany’sgrowthwillalsobeassistedbyits
increasinginvolvementininternationalprojectsand
exposuretolarger($100millionplus)EPCcontracts.
12.15pm–GREngineeringServicesLimited(ASX:GNG)
Notes
Austalisaglobaldefenceprimecontractor.TheCompanydesigns,constructsandmaintainsrevolutionaryplatformssuchastheLittoralCombatShip(LCS)andtheJointHighSpeedVessel(JHSV)fortheUnitedStatesNavy,aswellasanextensiverangeofpatrolandauxiliaryvesselsfordefenceforcesandgovernmentagenciesglobally.Austalalsodesigns,installs,integratesandmaintainssophisticatedcommunications,radarandcommandandcontrolsystems.
Austalbenefitsfromitspositionasaworldleaderinthedesign,constructionandsupportofcustomised,highperformancealuminiumvesselsforthecommercialhighspeedferrymarket,anachievementgainedoveraperiodofnearly25years.
OperationsAustal’sprimaryfacilitiescompriseacombineddefenceandcommercialshipyardinHenderson,WesternAustraliaandadedicateddefenceshipyardinMobile,Alabama.TheCompanyalsoprovidesvesselsupportservicesfromitsfacilitiesinAustralia,theUnitedStates,Europe,theCaribbean,andtheMiddleEast.
Recent developmentsInDecember2010,Austalwasawardeda10-vesselLittoralCombatShip(LCS)blockbuycontractnominallyworthUS$3.78billion,bytheUSNavy.ThisaugmentstheexistingUS$1.6billioncontractfromtheUSNavyfor10JointHighSpeedVessels(JHSV).InAugust2011,AustalwasawardedasignificantcontractwiththeAustralianCustomsandBorderProtectionServiceforthedesign,constructionandthrough-lifesupportof8x58mpatrolboats–theCapeClassPatrolBoats.
AustalhasalsorecentlysecuredacontractwithNomadModularBuildingPtyLtdtoprovidelabourandfacilitiestobuildatotalof44modularaccommodationandstaffamenityunitsfortheresourcessector,inlinewiththeCompany’splanstodiversifyitsproductoffering.
InSeptember2011,AustallaunchedthefirstJHSV,whichwillbedeliveredtotheUSNavyinthenextfewmonths.This‘first-in-class’vesselisthefirstoftenvesselsthatAustalwilldelivertotheyear2016,andisthefirstvesselinapotentialfleetof53ships.
Intellectual property/products/product development programsAustalhasdevelopedextensivepatentprotectedIntellectualPropertyinnearly25yearsofoperation,withparticularfocusonhighspeedaluminiumvessels.Austal’sdedicatedResearchandDevelopmentDepartmentconsistentlyworktodevelopandenhanceAustal’sinnovativeproductrange,withaprimeexampleofthisbeingAustal’strimaranhullform–theresultofextensiveresearchanddevelopmentwhichhascombinedtoproducethreegenerationsoftrimaranvessels–thefirstbeingthecommercialferry“BenchijiguaExpress”,followedbythe“USSIndependence”–oneofaseriesofLittoralCombatShipsdevelopedfortheUSNavy,andmostrecently,the102mvehicle-passengerferryknownasAustal’sNextGenerationtrimaran.
Austal’scontinualpursuitanddevelopmentofrevolutionaryplatformshasenabledthecompanytomaintainitspositionastheworldleaderinthedesignandconstructionofhighperformancealuminiumvessels.
Future OutlookAustal’sUSoperationsmaintainasteadyorder,withtwomajormulti-vesselcontractswiththeUSDepartmentofDefenceunderwayfortheLCSandJHSVprograms.TheLCSprogramisexpectedtoprovideanaveragerevenuestreamofUS$600Mpafrom2013to2017,whiletheJHSVprogramisexpectedtoprovideanaveragerevenuestreamofUS$280Mpafrom2012to2016.
FollowingareviewofAustal’sHendersonoperations,Austalhassharpeneditsfocusonthemanufactureandsupportofdefencevessels,andwillleveragetheCompany’sexistingsystemsintegrationcapabilitiestopursuenewopportunitiesinthisfield.
Austal’s2011reviewalsoidentifiedthatdemandinspecificsegmentsoftheinternationalcommercialvesselmarketremainsstrongwithnewmarketsareemerging.Tobesuccessfulinthesemarkets,apartfromapplyingitsmarketleadingintellectualproperty,Austalwillregionaliseitsmanufacturingbasetoenhancecompetitiveness,andassuchtheCompanyiscurrentlyinvestigatinglocationsforanAsianmanufacturingbase.
1.30pm–AustalLimited(ASX:ASB)
Notes
Nowinits75thyearofoperationThornisoneof
Australia’sleadingprovidersofretailandfinancial
servicestonicheconsumerandcommercialmarkets.
ThebusinessisdriventhroughthebrandsofRadio
Rentals,Rentlo,Cashfirst,NationalCreditManagement
Limited,ThornEquipmentFinanceandThornFinancial
Services.Eachofthesebrandsfocusesonaparticular
marketsegmentanddeliversaspecialistapproachto
meetthespecificneedsoftheirmarket.
Theunderlyingstrengthofthecorerentalbusiness
andassociatedpositivecashflowshasenabledthe
Companytoachievesubstantialgrowthoverrecent
yearsandprovidesasoundplatformfordevelopmentof
strategicinitiatives.ThispositioningenablesThorntogrow
inbothpositiveandchallengingeconomicconditions.
Operations• Australia’slargestelectricalandhouseholdgoods
rentalcompanyoperatingasRadioRentalsinallstates
exceptSouthAustraliawhereittradesasRentlo
• Targetsthecash/creditconstrainedconsumer
market
• Some80%ofcustomersareonautomated
paymentsincluding40%onCommonwealth
benefitswhoseaccountsarepaiddirectlytoThorn
byCentrelink
• Rentalproductrangecomprisesthe‘essentials’e.g.
flatpanelTVs,computers,furnitureandwhitegoods
• Success&positioningofRent,Try,$1Buy™
offering
• Providesunsecuredpersonalloansupto$5,000
• Offersflexibletermsandfastapprovals
• Lowestablishmentfeeandnoongoingfeesand
charges
• Aspecialistproviderofequipmentleaseand
financesolutionsforbusinesses,particularlythe
small,mediumenterprises(SME)sector,and
government
• Aleadingnationalproviderofintegratedreceivables
managementservices
• Servicesover800activecustomersacrossboth
theprivateandpublicsectors
Recent developmentsOctober 2010–nationaladvertisinglaunchof
Cashfirstwhichgeneratedloanbookgrowthfrom$3m
tonow$15m.
July 2010–launchofThornbrandedflatpanelTVsas
initialpartofdirectimportprogramthathasenhanced
profitability.
december 2010–launchof‘onepersonbranch’
and‘kiosk’trialsforRadioRentals/Rentlowhich
enablesacosteffectivegeographicexpansioninto
underservicedmarkets.
March 2011–acquisitionofNationalCredit
ManagementLimitedfor$31.5mwhichprovidesthe
opportunityforThorntoexpanditsfinancialservices
platformandfurtherdevelopitsdebtormanagement
expertiseandknowledgebase.
April 2011–relaunchofThornEquipmentFinance
whichisnowgarneringasolidpositioninselected
commercialmarkets.
June 2011–$30mcapitalraisingwhichwasfully
subscribed.
August 2011–RadioRentals/Rentloreaches
100,000customersasaculminationoffiveyearsof
strongandcontinuousgrowth.
Intellectual property/products/product development programsThorn brand–IPrightsforAustralia,NewZealand
andanumberofPacificnations.
Provideswellrecognisedbrandforexpansionofdirect
importprogram.
Rent, Try, $1Buy™–theleadingandmost
recognisedpropositionintheindustry.
Future OutlookThornGroupexpectsasubstantialincreasein
earningsinFY2012duetoafullyearcontributionfrom
NCMLandsolidorganicearningsgrowthfromthe
existingbusiness.
1.55pm–ThornGroupLimited(ASX:TGA)
Notes
SlaterandGordonisthelargestconsumerlawfirmin
Australia,employingover1,000staffacross45offices
inAustralia.
Slater&Gordonhavebeenhelpingpeoplewith
theirlegalneedsforover75years.Inthistime,thefirm
hashandledsomeofthemostcomplexandwidely
publicisedcaseseverundertakeninAustralia.
Slater&Gordonbecamethefirstlistedlawfirmin
theworldin2007andsincethenhasexperienced
revenueandearningsgrowthinexcessof20%per
annumwithacurrentmarketcapitalisationofaround
$300mAUD.
OperationsPersonalinjurylitigationrepresentsaround75%of
totalSlater&Gordonrevenue,withthemajorityof
workbeingperformedonaNoWin–NoFeebasis
(legalfeesarepaidonthesuccessfulconclusionof
thematter).SGHalsohasspecialistteamsworkingin
asbestoslitigation,motorvehicleaccidents,workers
compensation,medicallaw,publicliability,Comcare
andmilitarycompensationandtotalandpermanent
disabilityinsuranceclaims.
Mostotherareasofthecompany’spractice
operateonafeeforservicebasis.Morerecently,
Slater&Gordonhasdiversifiedandbuiltitscapability
inothernon-personalinjurypractices,including
commercialandprojectlitigation,familylawandwills,
probate,conveyancingandestatelitigation.
Recent developmentsAcquisitionshavebeenkeytotheexpansionstrategy
ofbuildinganationalfootprintand20acquisitions
havebeenmadesince2006,especiallyintheareasof
personalinjurylitigation.
Slater&Gordonhasnowdiversifieditscapabilities
andisactivelypursuinggrowthinFamilyLawand
PropertyLaw.
Slater&Gordonalsocontinuestolookat
opportunitiesforgrowthoutsideofAustralia.
Intellectual property/products/product development programsInvestmentandconsistentdeliveryhaveresultedin
Slater&Gordonbuildingastrongbrandinthemarket.
Thebrandiscrucialindrivingenquiriesintothecontact
centreandthereforerevenueandearnings.The
strengthofthebrandalsoreducesrelianceon,any
keyindividualswithintheCompany.
Future OutlookManagementhaveprovidedguidanceofrevenue
>AUD$200MinFY12withanEBITmargintargetof
25%-26%andEPSgrowthtoflowfromacquisitions
madeinFY11.Managementwillfocusonnon-PI
businessesaspotentialacquisitionsandcontinueto
investigateoverseasmarketsparticularlytheUKduring
thefinancialyear.Managementhavealongerterm
FY15revenuetargetofAUD$300M+.
2.20pm–Slater&GordonLimited(ASX:SGH)
Notes
ToxFreeSolutionsLimited(Toxfree)isoneofthe
largestintegratedindustrialservicesandwaste
managementbusinessesinAustralia.
TheCompanyhasanationalnetworkoflicensed
wastetreatmentfacilitiesandtreatmenttechnologies
throughoutAustraliathatenabletheCompanytooffer
“OneStopShop”solutionstoitsclients.
Toxfree’sstrategyistwofold:
1. Tobetheleadingproviderofhazardouswaste
managementservicesnationally
2. Tobethemarketleaderintheprovisionofindustrial
servicesandtotalwastemanagementsolutionsto
theresourcesectornationally
TheCompanyoperatesfrom30locationsaround
Australiaandemploysover600peopleandhasthe
geographicalfootprint,wastetreatmenttechnologies,
licensesandexpertisenecessarytoachievethis
strategy.
OperationsToxfreehasstrategicassetswithinthemajorresource
hubsofAustraliathatprovidetheCompanywitha
competitiveadvantageinthemanagementofwaste
producedfromtheminingandoilandgassector.
TheCompanyalsohasnumeroustechnologiesfor
themanagementofindustrialandhazardouswaste
includingAustralia’sonlylicensedindustrialwaste
incinerator.Therearesignificantbarrierstoentryin
theestablishmentofthesefacilitiesandhencethese
assetsareveryhardforcompetitorstoreplicate.
Toxfreeisleveragedtotheresourcesectorwith
approximately60%ofitsrevenuegeneratedfromthis
sector,with50%oftotalrevenuecontractedunder
longtermcontracts.Theremaining40%ofToxfree’s
revenueisderivedfrommunicipal,constructionand
manufacturingindustry.
Recent developments• FY11NPATgrowthof63%pcp
• $130MofcontractsawardedtotheCompany
overthelast18months
• GeographicexpansionofservicestotheNorthern
TerritorythroughtheacquisitionofWasteSolutions
for$18M
• APLNGcontractawardedinSeptember2011with
BechtelforthenewOrigin/ConocoPhilipsLNG
facilityonCurtisIsland,Queensland
• Strongbalancesheet-11%netdebttoequityas
at30June2011
Resources / Reserves EstimatesContractswith:
• TollEnergytomanageallwasteproducedfrom
theChevronGorgonLNGprojectonBarrowIsland
WesternAustralia
• WoodsideEnergytomanageallwasteproduced
fromtheirNorthWestShelfoperations
• RioTintoIronOretomanageallhydrocarbonwaste
producedfromallironoreoperationsthoughtout
thePilbaraRegionofWesternAustralia
• ApacheEnergytomanageallwasteproducedfrom
WesternAustralianoilandgasoperations
• MinaraResourcesforindustrialcleaningatthe
MurrinMurrinrefineryinWesternAustralia
Future OutlookToxfree’stargetmarketistheresourcesectorand
industrialwasteproducersnationallyestimatedat
approximately$4billionandthecompanyisconfident
ofobtainingfurthermarketshare.
Theoverallwastemanagementmarketisgrowing
throughcapitalexpenditureintheresourcesector
aswellasthroughregulatorydriversincluding
increasinglandfilllevies,theproposedcarbontaxand
sustainability,allofwhichwilldivertfurtherwastefrom
landfillfortreatment.
Growthwillcontinuethroughthreemainareas:
acquisitionofcomplementarybusinesses,organic
growthandawardoffurtherlongtermcontractstothe
miningandoilandgassector.
TheCompanyhastheassets,technologies,
licensesandastrongbalancesheettosupportits
growthstrategy.
2.45pm–ToxFreeSolutionsLimited(ASX:TOX)
Notes
Bionomicsisaninternationalbiotechnologycompany
withoperationsinAustraliaandEuropefocusedonthe
discoveryanddevelopmentofinnovativetherapeutics
forcanceranddiseasesofthecentralnervoussystem.
Bionomicshassmallmoleculeproductdevelopment
programsincancer,anxiety,Alzheimer’sdiseaseand
multiplesclerosis.BNC105,whichisundergoing
clinicaldevelopmenttotreatcancer,potentlyand
selectivelyrestrictsbloodflowwithintumours.A
PhaseIIclinicaldevelopmenttotreatanxietydisorders
anddepressionbasedonBNC210whichexhibits
efficacywithoutsideeffects.Bothcompoundsoffer
blockbusterpotentialifsuccessfullydeveloped.
Bionomicshasalong-standingresearchcollaboration
andlicenseagreementwithglobalPharmacompany
MerckSeronoinitsMultipleSclerosisprogram.Under
thetermsofthisagreementBionomicscanearnup
toUS$47minmilestonepaymentsandaroyaltyon
productsalesforeachcompoundselectedinthis
multi-compounddeal.MerckSeronofundsallR&D.
Recent developments• SuccessfulPhaseIbclinicaltrialsdemonstrated
thatBNC210reducedthesymptomsofpanic
attackandhadnoside-effectscommonly
associatedwithmarketeddrugstotreatanxiety
• Datashowingmolecularlinkbetweenneurotrophic
effectsofBNC210anditsanti-anxietyproperties
presented
• BNC105renalcancertrialprogresses–
combinationwithtargetedtherapyAfinitorsafeand
welltoleratedwithpatientrecruitmentcontinuing
• BNC105PhaseI/IIovariancancertrialplanned
–combinationwithgemcitabineandcarboplatin,
thedrugsoftencombinedforastandardofcare
chemotherapyinanumberofcancerindications
includingovarian
• MerckSeronodealextended
• BionomicsannouncesPreliminaryFinalResults
for2010/2011–revenueincreaseof5.8%,
cashpositionofover$16matJune2011.Cash
positionboostedpost30Junetoover$20m
throughsaleandleasebackofAdelaidepremises
giving2.5yearscash
Intellectual property/products/product development programsBionomics’discoveryanddevelopmentactivitiesare
drivenbyitsthreetechnologyplatforms:Angene®,
adrugdiscoveryplatformwhichincorporatesa
varietyofgenomicstoolstoidentifyandvalidate
novelangiogenesistargets.MultiCore®isBionomics’
proprietary,diversityorientatedchemistryplatformfor
thediscoveryofsmallmoleculedrugs.ionX®isaset
ofnoveltechnologiesfortheidentificationofdrugs
targetingionchannelsfordiseasesofthecentral
nervoussystem.TheseplatformsunderpinBionomics’
establishedbusinessstrategy.Bionomicshasover
40patentsorpatentspendingfornoveldrugsin
developmentandtechnologyplatformsincluding
medicinalchemistry,diseasegenesassociatedwith
epilepsyandcancer,anddrugtargetsassociatedwith
angiogenesis.
Future OutlookThenext12monthswillseeanumberofimportant
neartermvaluationcatalystsforBionomics
shareholders,including:
• BNC105clinicaltrialprogram:CompletionofUS
renalcancertrialandinitiationofovariancancertrial
• BNC210program:Licensingagreementand
initiationofPhaseIIclinicaltrial
• Alzheimer’sdiseaseprogram:Drugcandidate
enteringINDenablingstudiesandclinical
development
3.30pm–BionomicsLimited(ASX:BNO)
Notes
REVAisdedicatedtodevelopingminimallyinvasive
medicaldevicesthatleveragetheCompany’s
proprietarybiomaterialandstenttechnologies
toimprovethetreatmentofdisease.Guided
byamanagementteamandscientificadvisors
withextensiveproductdevelopmentandclinical
interventionalcardiologyexperience,REVA’s
initialfocusisthedevelopmentandeventual
commercializationofaproprietarydrug-eluting
bioresorbablecoronarystenttotreatcoronaryartery
disease.
OperationsREVAisheadquarteredinSanDiego,California.
Recent developmentsREVAMedical,Inc.(“REVA”orthe“Company”)
completeditsinitialpublicofferingofCDIs(CHESS
DepositoryInterests)onDecember17,2010and
begantradingontheAustralianSecuritiesExchange
(“ASX”)onDecember23,2010,underthesymbol
“RVA.”
Intellectual property/products/product development programsREVA’sleadproduct,theReZolveTMstent,is
designedtoprovidethesamebenefitsastraditional
metalstents,includinginhibitingtherenarrowingofthe
previouslytreatedartery,withtheadditionalbenefitof
beingdissolvedbythebodyovertimeaftertreatment
oftheartery.TheReZolvestentisprotectedbymore
than250patents.
Future OutlookStentsareminimallyinvasive,implantablemedical
deviceswhichareusedbycardiologistsforthe
treatmentofcoronaryarterydisease.Stentshelp
stabilizediseasedarteriesbyproppingthemopenand
restoringbloodflow.In2010,theworldwidemarketfor
coronarystentswasinexcessof$5.0billion.REVA
believesbioresorbablestentswillbethenextmajor
advancementininterventionaltechnologyforthe
minimallyinvasivetreatmentofcoronaryarterydisease.
REVAintendstoinitiateapilothumanclinicaltrialofits
ReZolve™stentduring2011.
3.55pm–REVAMedicalInc.(ASX:RVA)
Notes
QRxPharmaisacommercialstagespecialty
pharmaceuticalcompanyfocusedonthedevelopment
andcommercialisationofnewtreatmentsforpain
managementandcentralnervoussystem(CNS)
disorders.QRxPharma’spatentedDualOpioid®
productpipelineMoxDuo®offersanewalternativeto
currentpainmedications,alargeandgrowingmarket
saddledbyoldertherapieswithdebilitatingsideeffects.
Worldwidesalesforallopioidsare$14billionand
growingat6%.TheCompanyintendstoco-promoteits
productsintheUSandseeksstrategicpartnershipsfor
worldwidemarkets.
OperationsThecorporateofficeislocatedinSydney,Australiaand
theCompanymaintainsapresenceintheUSwith
itscommercial,clinicalandregulatoryteambasedin
Bedminster,NewJersey.
Recent developmentsQRxPharma’sleadproductcandidate,MoxDuo
ImmediateRelease(IR),hassuccessfullycompleted
pivotalPhase3studiesandtheCompanyhasrecently
fileditsNewDrugApplication(NDA)withtheUSFood
andDrugAdministration(FDA),targetingcommercial
launchforthesecondhalfof2012.Todate,nearly
800patientshavebeentreatedwithMoxDuoIRin
clinicaltrials,andthesestudieshaveshownpatients
whoreceivedMoxDuoIRwere50-75%lesslikelyto
experiencetherangeofserioussideeffectsincluding
nausea,vomiting,dizziness,sleepiness,orconstipation.
Amorerecentstudyhasalsodemonstratedsignificantly
lessrespiratorydepressionasmeasuredbyoxygen
desaturationswithMoxDuoIRwhendirectlycompared
tomorphineoroxycodoneatequianalgesicdoses.
Intellectual property/products/product development programsQRxPharma’sDualOpioidplatformtechnology,a
patentedfixed-ratiocombinationofmorphineand
oxycodoneincludesthreecomplementaryproducts:
MoxDuoIR,animmediate-releaseoralcapsulefor
acutepain;MoxDuoIV,anintravenousformulationfor
moderatetoseverehospital-basedpain;andMoxDuo
CR,acontrolled-releaseoraltabletforchronicpain.
QRxPharma’sDualOpioidtechnologyisexpected
toprovidealongperiodofmarketingexclusivity.The
centraldualopioidcompositionofmatterpatenthas
issuedinnumerouscountriesandtheCompanyhas
alsodevelopedaninnovativeintellectualproperty
portfoliocoveringadditionalcompositionsofmatter,
mechanismsofactionandnewformulationswhich,
ifgranted,areexpectedtoprovidemarketexclusivity
through2029inNorthAmericaandallothermajor
markets.
Significant Contractual Arrangements: TheCompanyhasenteredintoastrategicalliancewith
AoxingPharmaceuticalCompany,Inc.(“Aoxing”)in
ChinatocollaborateinthedevelopmentofMoxDuoIV,
withAoxingholdingexclusivemarketingrightsinChina
andQRxPharmaretainingtherestoftheworld.Aoxing
hasalsolicensedtherightstotheChinamarketfor
MoxDuoIR.
TheCompanyalsohasastrategicalliancewith
LiaoningNuokangMedicinesCo.Ltd.(“Nuokang”)to
developandcommercialiseQRxPharma’svenomics
pre-clinicalassetsfortheChinesemarket.
Future OutlookTheNDAsubmissioninitiatestheregulatoryapproval
processforMoxDuoIR,andmovestheCompany
significantlyclosertoenteringinthesecondhalfof
2012,the$2.5billionmarketforprescriptionopioidsto
treatmoderatetosevereacutepain,asegmentofthe
$8billionspentannuallyonprescriptionopioidsinthe
US.
WiththeNDAnowlodgedforMoxDuoIR,the
CompanywillacceleratetheMoxDuoCRtablet
developmentthatencompassessustaineddelivery
technologyaswellasabusedeterrentandtamper
resistantfeatures.APhaseIpharmacokineticstudyhas
beencompletedandtwoadditionalPhase1studiesare
plannedforthecomingyear.
4.20pm–QRxPharmaLimited(ASX:QRX)
Notes
OperationsPhosphagenicsisaMelbourne-basedgloballydriven
biotechnologycompanyfocusedonthediscovery
ofnewandcosteffectivewaystoenhancethe
deliveryofprovenpharmaceutical,nutraceuticaland
cosmeceuticalproducts.Focusedonachieving
long-termpharmaceuticalcommercialisationgoals
andgeneratingpositivecashflowsfromthesaleof
cosmeticandpersonalcareproductsinmultiple
countries.Phosphagenicsisdevelopingarange
ofPharmaceutical(HumanandAnimalHealth),
Dermatological,CosmeticandPersonalCare
products.Phosphagenicsmainpipelinefocusisthe
developmentofourworld-firstTPM/oxycodonepain
patchfortreatingchronicpain.Thepainpatchisthe
firstofitskindthatoffersgradualandsteady-state
systemicdosingofOxycodonewitharapidwashout
profile.Theglobalpainmarketwasvaluedat$22bnin
2010,withaCAGRofnearly9%since2005.
Recent developments3M:UsingtheuniqueTPM®deliverytechnology
andinconjunctionwith3M’spatchproduction
expertise,thepatchhasbeenrecentlyimprovedby
5-foldovertheoriginaldesign.Thisadvancesthe
commercialisationpathwayfortheTPM/oxycodone
patch,asitallowsforasmallerpatch,whilestill
maintainingthesamedeliverycharacteristics.3M
arenowpreparingascale-upbatchoftheTPM/
oxycodonepatch,withpivotaltrialsontrackto
commenceforQ42011.
PersonalCare:Launchofthenovelanti-cellulite
technology,Elixia®BodyShaperCelluliteContour
Crème™,utilisingthecompany’sproprietaryplatform
TPM®technology,deliveringfat-reducingcompounds
intotheskin.Trialshaveshownareductioninthe
appearanceofcelluliteofupto40percentafter4
weeks.AgreementsignedwithA.S.Watsonsforthe
saleanddistributionofElixia®personalcareproducts
throughoutSouthEastAsiabeginningQ42011Metier
TribecaLLCinNewYorktoexpandthesalesand
marketingofthecosmeticsrangeofproductsusing
PhosphagenicsTPM®technology.Over20,000units
weresoldwithinthefirst12monthssincelaunch,
withonlytwoinitialproductsintheUSmarket.An
additionaleightproductswereaddedtotheexisting
rangeinApril2011,anindicationofthesalessuccess
oftheinitialrange.
Future OutlookOverthelong-term,Phosphagenicsaimstocontinue
developingitsinnovativeTPM®platformdelivery
technologythroughhighvaluepharmaceuticalprojects
andgeneratenear-termandongoingcashflows
throughcontinuedpartnerships;licensingagreements
andpartnerfundedproductdevelopment.
Creatingsignificantgrowthandexpansionofsales,
marketinganddistributionchannelsfortheElixia®
personalcarebrandworldwide,inabidtoincrease
brandimaging,awarenessandsales.Therationale
forgrowingthepersonalcaresectoristogeneratean
immediateandongoingpositivecashflowsituation,
inordertoaidfundingofhighvaluepharmaceutical
pipelinedevelopments.Newproductdevelopmentis
alsoplannedforthenear-term,extendingandbuilding
upontheinitialsalessuccessofthebrandandto
diversifyandextendtheexistingproductlines.
TPM/oxycodonepainpatchisontrackand
commercialisationpathwayhasprogressed
significantly,withexpectedpivotaltrialrecruitmentdue
tocommenceinlateQ42011.
Theinheritbenefitsandknowledgegainedfrom
ourcollaborationwith3Mcarriesadditionalunrealised
valueforPhosphagenics,astheadvancementsand
improvementsintransdermaldeliverygainedfromthe
TPM/oxycodoneprojectcanalsobeappliedtofuture
pipelineprojects.
4.45pm–PhosphagenicsLimited(ASX:POH)
Notes
AUSTALLIMITEDRichard SimonsChief Financial Officer
RichardSimonsistheChief
FinancialOfficerofAustalLimited,
aglobalprimedefencecontractor
andaworldleaderinthe
designandconstructionofhigh
speedaluminiumdefenceand
commercialvessels.
Richardhasinexcessof20yearsexperienceinfinancial
management,projectfinance,M&Aandcapitalmarkets,which
hasbeengainedinAustralia,Asia,theUnitedKingdomand
southernAfrica.
RichardjoinedAustalinFebruary2010withthebriefto
globalisethefinancefunctionandensurethatitispositioned
tosupporttheGroup’ssubstantialinternationalgrowth
opportunities.
PriortojoiningAustal,RichardwasGroupTreasuryManager
atCloughLimited,alongestablishedoilandgasengineerand
contractor,wherehehadresponsibilityforglobalM&Aactivity,
capitalmarkettransactions,treasuryandinvestorrelations.
Richardhaspreviouslyheldseniorpositionswithinternational
resourcesandengineeringgroupGRDLimited,andstrategy
andcorporatefinanceconsultingorganisationsArthur
AndersenandMainsheetCorporate.
RichardisalsotheTreasurerofCysticFibrosisWestern
Australia,arolewhichhehasperformedsince2009.
HeholdsaBachelorofCommercefromMurdochUniversity
andhasbeenanassociatedmemberoftheInstituteof
CharteredAccountantssince1992.
100ClarenceBeachRoad,Henderson
WesternAustralia,6166,Australia
t +61894101111
w www.austal.com
BATHURSTRESOURCESLIMITEDHamish BohannanManaging director and Chief Executive Officer
HamishBohannanisaMining
Engineerwith35years’
experienceintheresources
industry,startingasaminerwith
GoldfieldsinSouthAfricabefore
completingadegreeattheRoyal
SchoolofMines.Hehasbeen
activelyinvolvedinmanyareasoftheindustryincluding
dredgingandopencutmining,processingandsmelting
havingworkedaroundtheglobeinvariousmetalsfrom
CopperandGoldtoNickelandMineralSands.Previously
CEOofBraemoreResources,Hamishhasalsoheld
executivepositionswithCyprusMinerals,WMCLtd,Iluka
andIAMGold.
GroundFloor,1306HayStreet,WestPerth
WesternAustralia,6005,Australia
t +61894812100
w www.bathurstresources.com
PresenterBiographies
BCIRONLIMITEDMichael youngManaging director
MrYoungisageologistanda
graduateofQueensUniversity,
CanadawithaBachelorof
Science(Honours)degreein
GeologicalSciences.
From1991,heworkedfor
DominionMiningLimitedandheadedtheteamwhopegged
theJust-in-Casegold,andAbednegonickelprospects.He
thenmovedontoworkwithGolderAssociatesfrom1994
to2003wherehecarriedoutresourcemodelling,due
diligence,QA/QC,andfeasibilityworkonawidevarietyof
depositsandcommodities.TheseincludedCenturyZincin
Queensland,EscondidaCopperinChile,andKoolyanobbing
ironmineatSouthernCross,WesternAustralia.
In2003,hejoinedCazalyResourcesasExploration
ManagerandhewasafoundingdirectorofBannerman
ResourcesLimited(February2005toApril2006).
InDecember2006,BCIronlistedontheASXwhenMr
Youngwastheonlyemployee.HehassincedevelopedBC
Ironfromanexplorerintoaproducerinjustoverfouryears.
In2011,hebecameanon-ExecutiveDirectorofWaratah
Gold,agoldandironoreexplorationcompanywithprojects
intheRepublicofCongoandAustralia.
MrYoungisamemberoftheAustralianInstituteof
Geoscientists,theAustralasianInstituteofMiningand
Metallurgy(CP),andtheSocietyforEconomicGeologists
andtheExecutiveCouncilforAMEC(AssociationofMining
andExplorationCompanies),theindustrybodyrepresenting
mineralexplorationandminingcompaniesbasedinAustralia.
Level1,15RheolaStreet,WestPerth
WesternAustralia,6005,Australia
t +61863113400
w www.bciron.com.au
BIONOMICSLIMITEDdr deborah RathjenCEO & Managing director
Aseasonedbiotechexecutive
withsignificantexperiencein
research,businessdevelopment,
andlicensing.DrDeborah
RathjenjoinedBionomicsin
June2000fromPeptechLimited
(subsequentlynamedArana),
whereshewasManagerofBusinessDevelopmentand
Licensing.DrRathjenwasaco-inventorofPeptech’s
TumourNecrosisFactor(TNF)technologyandleaderof
thecompany’ssuccessfuldefenceofitskeyTNFpatents
againstlegalchallenges.ThisprovidedPeptechwitha
strongcommercialbasisforsecuringlicenseagreements
withBASF,Centocorandothercompanieswithanti-TNF
productsandfordevelopingtheirownTNFproducts.
In2004/2005,DrRathjenidentified,negotiatedand
successfullycompletedtheacquisitionsofIliadChemicals
andNeruofit.Thesuccessfulintegrationofthese
businessesintoBionomicsresultedintwodrugcandidates
thatareinclinicaltrialsforthetreatmentofcancerand
anxiety.Additionally,acommercialisingdealofBionomics’
technologiesformultiplesclerosiswithMerckSerono.
DrRathjenisChairpersonoftheAusBiotechBoard.In
2004awardedtheAusBiotechPresident’sMedalforher
significantcontributiontotheAustralianbiotechnology
industry,in2006shereceivedaDistinguishedAlumni
AwardfromFlindersUniversity,in2009theBioSingapore
AsiaPacificWomanEntrepreneuroftheYear,andin2010
BioInnovationSAIndustryLeaderAward.
31DalgleishStreet,Thebarton,
SouthAustralia,5031,Australia
t +61883546101
w www.bionomics.com.au
PresenterBiographies
CERRORESOURCESNLGreg GermonGeneral Manager, Investor Relations
GregGermon’s15yearsin
capitalrelationshasspanned
theresourcesandfunds
management/financesectors.
Hehashadkeyin-houseand
advisoryroleswithPlacerDome
Inc,CommonwealthInvestment
ManagementandLendLeaseCorporation;beeninvolved
oninexcessof$2.25Bincapital/M&Atransactions;and
overseenon-marketmanagementfor20listedcompanies.
MrGermongraduatedwithaBachelorofCommerce
fromtheUniversityofNewcastleandaGraduateDiploma
inJournalismfromRMITUniversity.HeisalsoGeneral
Manager,InvestorRelationsforCockatooCoalLimited.
POBox2380,FortitudeValleyBC,Brisbane
Queensland,4006,Australia
t +61732520122
w www.cerroresources.com
GOLDONEINTERNATIONALLIMITEDNeal Fronemanpresident and Chief Executive Officer
Nealisaregisteredprofessional
engineerwhoholdsaSouth
AfricanGovernmentMine
Manager’sCertificateof
Competency(Metalliferous),and
aSouthAfricanGovernment
MineEngineer’sCertificateof
Competency.Hehasover30years’experienceinthe
miningindustryingoldandplatinum.Hewasappointed
CEOofAfleaseGold&UraniumResourcesinApril
2003andwasprimarilyresponsibleforthecreationand
developmentofUraniumOneuntilhisresignationin
February2008.DuringthisperiodNealwasCEOofboth
AfleaseGoldandUraniumOne.PriortojoiningAflease
Gold,Nealwasvicepresidentandheadofoperationsat
GoldFields.Hehasalsoheldmanagementandexecutive
positionsatHarmonyGoldandJCI,amongothers.Neal
servesontheSHECommittee.
PostnetSuite115,PrivateBagX17,
WeltevredenPark,1715.SouthAfrica
t +27117261047
w www.gold1.co.za
PresenterBiographies
GRENGINEERINGLIMITEDJoe RicciardoManaging director
Biography:JoeRicciardois
amechanicalengineerand
foundingmemberofGR
EngineeringServicesLimited.
Hisbackgroundinproviding
engineeringdesignand
constructionservicestothe
mineralprocessingindustrydatesbackto1986whenhe
co-foundedJREngineeringServiceswhichhegrewinto
anorganisationofover300peoplebeforeitwassoldtoa
publicallylistedAustraliancompanyin2001.Joecontinued
toworkfortheorganisationuntilearly2006.
DuringhisbriefretirementJoeobservedthatmanyofJR
Engineering’sformercompetitorshadmovedtowards
servicinglargerclientsandinternationalprojectsleaving
behindavoidinprovidersoffixedpriceengineeringdesign
andconstructionservicestojuniorandmid-tiermineral
producers.
Heseizeduponthisopportunitybybringingtogethera
teamofhighlyexperiencedengineersandmanagers,many
beingformeremployeesofJREngineeringServicesandin
SeptembertheyfoundedGREngineeringServices.
SincethentheCompanyhasgrownconsistentlyintermsof
bothrevenueandprofitability.
POBox258,Belmont
WesternAustralia,6984,Australia
t +61862726000
w www.gres.com.au
HAWKLEYOILANDGASLIMITEDdr Michael EarleChief Executive Officer
Michaelstartedhiscareerinthe
oilandgasindustryin1980asa
petroleumgeologistwithBP,and
workedinSingapore,Australia
(onPNGprojects),Egyptandthe
UKbeforejoiningLASMOand
becomingExplorationManager,
Libya.HeleftLASMOtocompleteanMBAandgraduated
fromCranfieldUniversityin1997.
AfterassignmentsinPakistanforOMVandinIndonesiafor
HessCorporation,MichaeljoinedMNDinCzechRepublic
asGroupExplorationManagerresponsiblefornewventures
andforexistingprojectsinPakistan,Yemen,Germanyand
Romania.HeconsolidatedhisexperienceinCentraland
EasternEuropeatAurelianOil&GasasGroupExploration
ManagerintheirLondonheadoffice,whereheranoperated
projectsinRomania,Slovakia,BulgariaandPoland.
BeforejoiningHawkley,MichaelwasCEOforVegasOil&
Gasandrananorganisationwith100employeesinEgypt,
HoustonandtheAthensheadoffice.Hepresidedover
a25%increaseinliquidsproductionto15,000bopd,as
wellasthecommercialisationofagascondensatefield
producing105MMscd/day,andtheadditionof10million
barrelsofreservesthroughexplorationandappraisaldrilling.
MichaelisaMemberoftheInstituteofRiskManagement
andaFellowoftheRoyalGeographicalSociety.
45VentnorAvenue,WestPerth
WesternAustralia,6005,Australia
t +61894298803
w www.hawklelyoilandgas.com
PresenterBiographies
METMINCOLIMITEDdr phillip Wingdirector
DrWingisafoundinginvestor
andfoundingChairmanof
MetmincoLtd.DrWinghas
continuedasadirectorof
MetmincoLtd.UpuntilJuly
2011,hehadanexecutiverole
responsibleforMarketingand
InvestorRelations.HeisalsoChairmanornon-executive
Directorofsixprivatecompaniesinindustriesrangingfrom
miningtomedicaldevices.
UptoJanuary2006,DrWinghadbeenapartnerof
TechnologyVenturePartners(TVP)forsevenyears.This
companyisaspecialistinstitutionalinformationtechnology
andtelecommunicationsventurecapitalfirm.
PriortojoiningTVP,DrWingwasaseniorexecutiveinIBM’s
GlobalandAsiaPacificmanagementteam.Hislastrolein
IBMwasasGeneralManager(GlobalServices)responsible
forstrategy,marketingandbusinessdevelopment,including
acquisitions,alliancesandbusinesspartners.Hisinitial
careerwasinstrategyconsultingandhehasbeena
ManagingPartnerofManagementConsultingpractices
atKPMGandErnst&Young.Hehasworkedandsaton
BoardsinAustralia,US,EuropeandAsia.
DrWinghasaBachelorandMastersofEconomicsand
hascompletedaPhDinOrganisationalChange.Heisa
memberoftheInstituteofCharteredAccountantsandalso
anadjunctlecturerwiththeCentreforAppliedFinanceat
MacquarieUniversity.
Level6,122WalkerStreet,NorthSydney
NewSouthWales,2060,Australia
t +61294601856
w www.metminco.com.au
PANORAMICRESOURCESLIMITEDpeter HaroldManaging director
PeterholdsaBachelorofApplied
ScienceinChemistryfromthe
UniversityofMelbourne.Peter
spentthreeyearswithShell
Australiainvariouscommercial
rolesbeforejoiningAustralian
ConsolidatedMineralsin1989
asMarketingManagerfortheGoldenGroveProject,based
inPerth.PeterwentontoworkforNormandyasManager
MineralsMarketingandjoinedMPIMinesin1992as
CommercialExecutive.In1999PeterjoinedtheAWIgroup
ofCompaniesandheldrolesinmetalsmarketing,investor
relationsandcorporatedevelopment.
In2001,PeterestablishedwhatwasthenSallyMalay
Mining,whichhetookfrominitialProjectacquisitioninthe
Kimberleythroughtooperationalphase.Panoramicthen
purchasedandre-commissioneditssecondnickelmine
andinFebruary2011purchasedGidgeeGoldMinewhich
ithopestobringintoproductionwithinthreeyears.
Thebusinesshasgrownfroma$3MIPOintoasignificant
nickelproducerwithtwooperatingminesinWAproducing
over18,000tNiequivalent,whichmakesPanoramic
ResourcesoneofAustralia’slargestpurenickelproducers.
TheCompanynowhasover500full-timeworkers,is
forecasttogenerateapprox.$300Minrevenueandis
anASX/S&PTop200aswellasaTop50WAASXlisted
company.
POBoxZ5487Perth
WesternAustralia,6831,Australia
t +61892250999
e [email protected]/[email protected]
w www.panoramicresources.com
PresenterBiographies
PHOSPHAGENICSLIMITEDdr Esra OgruChief Executive Officer
DrOgruwasappointedJoint
CEOofPhosphagenicsinApril
2010.Herresponsibilities
includeinvolvementinsetting
strategicdirection,management
ofoperationsandfinancing
activitiesforthecompany.
Shealsoplaysanactiveroleindrivingkeycommercial
negotiations,developmentprogramsandcorporate
activity.Sheachievesthisthroughstrongleadershipof
anexperiencedpharmaceuticaldevelopmentteamand
strategiccollaborations.
DrOgruhasmanyyearsexperienceinthepharmaceutical
andbiotechnologyindustriesworkingindevelopment
andseniormanagementroles.Shehasovertenyears
ofexperienceinthemanagementandcoordinationof
pre-clinicalandclinicaldevelopmentofpharmaceutical
products.
SincetakingonthejointCEOrolein2010DrOgruhas:
• Completedover3internationaltransactionsintheareas
ofdermatologyandpharmaceuticalmedicine
• Launchedanewrangeofbio-ceuticalcosmeticbrand
–ELIXIA®–whichisavailableonline,TVshoppingand
Retail(Myer).
POBox1415,ClaytonSouthMDC
Victoria,3169,Australia
t +61395651119/+61395651142
w www.phosphagenics.com
QRxPHARMALIMITEDJanette dixonVice president Global Business development
Formerlyamedicalscientist,
Janettehasextensivecommercial
experienceatexecutiveand
directorlevelinbothstart-upand
corporateorganizationsinthe
fieldsofpharmaceuticalsand
clinicaldiagnostics.Shehas
degreesinmedicaltechnology,marketing,finance,and
aDoctorateinBusinessandAdministrationwhereinher
researchfocusedonthestrategicmanagementofbiotech
commercialization.
PriortojoiningQRxPharma,Janetteheldtheroleof
ManagingDirectoratPacificPharmaceuticalsLtd(now
MylanNewZealandLtd)andledtherestructuringofNew
Zealand’slargestpharmaceuticalmanufacturingcompany,
outsourcingproductionof130pharmaceuticalproductsinto
sixcountries.
Janettehasspent12yearslivingandworkinginAsiaand
hasbroadbusinessdevelopmentexperienceinthelife
sciencessectoracrossAsiaPacificandmorerecently
acrosstheUSandEurope.Janettefoundedandisa
DirectorofSingaporebasedSynergyPharmaceuticals
PteLtd,aclinicalstagecompanydevelopingadrugfor
theeradicationofHelicobacterpylori.Shepreviously
foundedandsuccessfullysoldtwodiagnosticscompanies
basedinSingaporeandMalaysiaandhasnegotiatedand
implementedtwojointventuresonbehalfofQRxPharma
withChinesepharmaceuticalcompanies.
POBox1810,NorthSydney
NewSouthWales,2059,Australia
t +61294928021
w www.qrxpharma.com
PresenterBiographies
REVAMEDICALINC.Robert StockmanChairman and CEO
RobertStockman,theCompany’s
co-founder,hasservedasits
ChairmanoftheBoardand
directorsince1999anditsChief
ExecutiveOfficersinceAugust
2010.Mr.Stockmanhasalso
servedasadirectorofHeartWare
LimitedandsubsequentlyHeartWareInternational,Inc.,a
USmedicaldevicecompanylistedonASXandNASDAQ
sinceDecember2006.Since1999,Mr.Stockmanhas
beenthePresidentandChiefExecutiveOfficerofGroup
OutcomeLLC,aUS-basedmerchantbankingfirmwhich
deploysitscapitalandthatofitsfinancialpartnersin
privateequityandventurecapitalinvestmentsinmedical
technologycompanies.Mr.Stockmanalsoco-founded
Centrimed,Inc.,aninternet-basedsoftwarecompanythat
wasacquiredbyGlobalHealthcareExchange,LLC.He
ledthebuyoutsofIoptex,anintraocularlensmanufacturer,
andtwoJohnson&Johnsondivestitures,“A”Company
Orthodontics,Inc.andCritikonCompany,LLC.Priorto
establishingGroupOutcomeLLC,Mr.Stockmanspent
18yearswithJohnstonAssociates,Inc.andNarragansett
CapitalCorporation,wherehefocusedonventurecapital
investmentsandmergeradvisoryworkinthehealthcare
sector.Mr.StockmanholdsaBachelorsDegreefrom
HarvardCollegeandaMasterofBusinessAdministration
fromTheAmosTuckSchoolofBusinessatDartmouth
College.
5751CopleyDrive
SanDiego,CA,92111,USA
t +18589663000
w www.revamedical.com
SLATER&GORDONLIMITEDAndrew GrechManaging director
Andrewstartedwiththefirm
in1994,initiallyworkingasa
litigationlawyer,workingacross
thethenfledgingspecialised
personalinjuriesgroupsandthe
projectlitigationareawherehe
workedonseveralhighprofile
classactions.Throughhisexperienceasalitigatorinthe
classactionsareaAndrewhadtheopportunitytowork
inmanyjurisdictionsacrossAustraliaandonamixof
commercial,environmentalandpersonalinjuriescases.
ThatworktookhimtoSydneybetween1996and2000,
beforetakinguptheManagingDirector’sroleandmoving
backtoMelbournein2000.
AndrewoversawSlater&Gordon’shistoricpubliclistingon
theAustralianStockExchangein2007,pavingthewayfor
futuregrowthandexpansion.
Andrewhasoverseenstrategicacquisitions,mergersand
organicgrowththathasseenthecompanydoublethe
numberofitsofficesandstaffsincelisting.
Heisnowresponsiblefor45officesacrossAustraliaand
morethan1,000staff.
Andrewhasmorethantwentyyearsofexperienceasa
legalpractitionerandcontinuestobedrivenbyhisgoalof
deliveringaffordablelegalservicesandaccesstothelegal
systemtoeverydayAustralians.
485LaTrobeStreet,Melbourne
Victoria,3000,Australia
t +61896026839
w www.slatergordon.com.au
PresenterBiographies
THORNGROUPLIMITEDJohn HughesManaging director
JohnHughes’careerofover40
yearsspansavarietyofindustries
includingretail,agriculture,fast
food,electronicsandfinancial
services.
PriortojoiningtheThorn,John
wasManagingDirectorofASXlistedRuralcoHoldings
LimiteduntilitsmergerwithTasmanianbasedRoberts
Limitedin2006.Duringthistimehehasalsomadea
significantcontributiontothecropprotectionandanimal
healthindustrythroughhisrolesasadirectorofAgsafe
(Chairman),AVCARE(VicePresident)andGraintrust.
HewaspreviouslyManagingDirectorofThornEMIRentals
Australasiaandledthereshapingofthatcompanyinto
ahighlysuccessfulconsumerelectronicsandfinancial
servicesorganisation.PriortothathewasManaging
DirectorofDominosPizzaAustraliaandhasextensive
experienceasaseniorexecutiveinanumberofother
leadingAustralianandinternationalcompaniesincluding
SharpCorporation,CompetitiveFoodsandGraceBros.
MrHughesholdsaBachelorofCommercedegreefrom
theUniversityofNewSouthWales,isaFellowofthe
AustralianInstituteofCompanyDirectorsandisadirector
ofNFAustraliaLimitedincorporatingtheChildren’sTumour
FoundationAustraliainthenotforprofitsector.
POBox452,RegentsPark
NewSouthWales,2143,Australia
t +61291015044
w www.thorn.com.au
TOXFREESOLUTIONSLIMITEDSteve GostlowManaging director
Stevehasbeenemployedby
Toxfreesince2002andwas
appointedManagingDirectorin
2005.
Commencingin2005,Steve
refocusedToxfreeundernew
strategyaimedatpositioningToxfreeasAustralia’sleading
wastemanagementandindustrialservicesprovider.
Toxfree’sgrowthsincethistimehasbeenthrougha
combinationofstrategicacquisitionsacrossAustralia,
green-fielddevelopmentinnewgeographicregionsand
continuedorganicgrowthofitsexistingdivisions.
Beginningwithtwosites,20employeesandrevenueof
$6Min2005,todaytheToxfreeGroupoperatesfrom30
locationsacrossAustralia,employsover600peopleand
achievedrevenuesof$145Minfinancialyear2011.
Stevehasover15yearsexperienceintheAustralian
wastemanagementindustryandholdsaBachelorof
EnvironmentalScience.Hehasasolidbackground
inwastetreatment,wastetechnologiesandregulatory
compliance.
POBox1108,OsborneParkDC
WesternAustralia,6916,Australia
t +61862167000
w www.toxfree.com.au
PresenterBiographies
TheAustralasianInvestorRelationsAssociation(AIRA)
wasestablishedin2001toadvancetheawareness
of,andbestpracticein,investorrelationsinAustralia
andNewZealandandtherebyimprovetherelationship
betweenlistedentitiesandtheinvestmentcommunity.The
Association’s150corporatemembersnowrepresentover
A$760billionofmarketcapitalisationorovertwothirdsof
thetotalmarketcapitalisationofcompanieslistedonASX.
AIRAprovideseducationandprofessionaldevelopment
oninvestorrelationsforlistedentitiesaswellasproviding
information,networking,advocacyandresearchforits
members.
Ian MathesonChiefExecutiveOfficer
AIRA
GPOBox1365,Sydney
NewSouthWales,2001,Australia
t +61298729100
wwww.aira.org.au
BBYiscommittedtobeingtheleadingAustralian-owned
securitiesfirmprovidingtheverybestcapitalmarketsand
investmentsolutionsforhighgrowthAustraliancompanies,
InstitutionalInvestorsandprivateclients.
BBYisaproudlyAustralianindependentfinancialservices
groupwithofficesinSydney,Melbourne,Adelaide,Perth,
theGoldCoastandtheUK,alongwithaglobalpresence
intheUSAandAsia.Itsclientsbenefitfromitsexpertisein
theAustralianmarketandthestrengthofitspartnerships
withleadingAsianinvestmentbankCIMBaswellasan
equitypartnershipwithJefferies&Co,IncintheU.S.
BBYholdsauniqueplaceintheAustraliansecurities
markets,becauseofitsbusinessmodel,sizeandlocal
management.Itsclientsknowtheycancountonthe
companytocontinuetoputthemattheheartofeverything
theydo.
Sinceitsinception,BBYhasalwaysbeencommitted
toidentifyingandsolvingtheinvestmentproblemsofits
clients.
Stewart palmerHeadofInternationalSales&Trading
t +61407996578
wwww.bby.com.au
Anson TohAssociateDirector,CorporateFinance
t +61434581366
wwww.bby.com.au
SupporterProfiles
bby.com.auBBY Research Special Conference Edition available to all delegates
Proud Sponsor of the ASX Small to Mid-Cap Conference
BBY is pleased to be a Co-Sponsor of the ASX Small to Mid-Cap Conferences being held in Singapore and Hong Kong. Our sponsorship is part of our ongoing commitment to the region and promoting the investment opportunities Australian companies present to Asian investors.
BBY has strong connections to the Asia-Pacific region via our international partner CIMB Investment Banking, part of the CIMB Group.
Special Conference Give-AwayBBY Research’s ‘Special Conference Edition’ is again available in 2011 with the edition summarising the latest BBY Research into those companies presenting.
The copies are available only from BBY at the event.
BBY Awarded “9th Overall” Best Investment Bank, 2011BBY has received the “9th Overall” Best Investment Bank in the 2011 survey from East Coles, the leading financial research firm in the equities, investment banking and corporate performance markets in Australia.
Our 9th position was made up of a 10th ranking in mergers and acquisitions, a 7th position in equity capital markets and from the 262 investment bankers included in the East Coles Survey, two of our team were in the top 20 bankers in Australia.
BBY is very proud of this achievement and it confirms to all of us at BBY that Australian companies and investors can be well served by a truly independent local firm with specialist skills, a commitment to the Australian market and employing some of the very best talent available.
Stewart Palmer Head of International Sales & Trading Email: [email protected] Phone: 0407 996 578
Anson Toh Associate Director, Corporate Finance Email: [email protected] Phone: 0434 581 366
Please make sure to come past and collect your copy.
AsoneofAustralia’slargestindependentstockbroking
firms,BellPotterprovidesafullrangeofservicesto
institutional,corporateandprivateclients.
Theorganisation’sobjectiveistoofferacompleterangeof
financialproductsandservicestomeetitsclients’needs,
including:stockbroking,research,financialplanning,
interestrateproductsandsuperannuation.
BellPotterispartoftheBellFinancialGroupofcompanies
(ASXcode:BFG).
Giuliano Sala TennaInstitutionalDealer
BellPotterSecuritiesLimited
Level37,ExchangePlaza
2TheEsplanade,Perth
WesternAustralia,6000,Australia
t +61893267632
w www.bellpotter.com.au
CreditSuisseisoneoftheworld’sleadingfinancial
servicesprovidersandispartoftheCreditSuissegroup
ofcompanies.Asanintegratedbank,CreditSuisseoffers
clientsitscombinedexpertiseintheareasofprivate
banking,investmentbankingandassetmanagement.
CreditSuisseprovidesadvisoryservices,comprehensive
solutionsandinnovativeproductstocompanies,
institutionalclientsandhigh-net-worthprivateclients
globally,aswellastoretailclientsinSwitzerland.Credit
SuisseisheadquarteredinZurichandoperatesinover50
countriesworldwide.Thegroupemploysapproximately
50,700people.FurtherinformationaboutCreditSuisse
canbefoundatcredit-suisse.com.
Andrew GilbertVicePresident
CreditSuisse
Level91,InternationalCommerceCentre
1AustinRoadWest,Kowloon
HongKong
t +85221016293
w credit-suisse.com
SupporterProfiles
THREE IMPORTANT REASONS WHY BELL POTTER IS THE NAME YOU NEED FOR YOUR AUSTRALIAN STOCKBROKING NEEDS ...
We are one of Australia’s largest full service stockbrokers with a strong track record of offering high quality, professional advice to retail and institutional clients.
We have access to a wide range of institutional research covering stocks in Australia and New Zealand.
Bell Potter offers advice to the institutional market with a focus on precise execution, accurate settlement and truly personalised service.
123Giuliano Sala TennaCall + 61 8 9326 7632
Email [email protected] www.bellpotter.com.au
ABN 25 006 390 772 AFSL No. 243480
Establishedin2007,EvansandPartnersisan
independentAustralianownedinvestmenthouse
providingcomprehensiveadvisoryservicesforInstitutions,
CorporationsandPrivateClients.
TheCompany’sobjectiveistoprovidefirstclass
investmentadvicethroughhighconviction,non-
maintenanceresearch,whichgenuinelyattemptstoadd
valuetoitsinstitutionalclients.ThemandateofEvans
&Partners’researchteamistobeflexibleandseekout
thebestinvestmentopportunitiesacrossassetclasses.
Evans&Partnershassignificantexperienceacrossthe
manyfacetsoffinancialmarkets,directingitsexperience
andknowledgetobenefititsclientsinplainlanguage,and
withincosteffectivestructures.
WhatdifferentiatesEvansandPartnersfrommanyofits
competitorsisitsgenuinedesiretobethe“trustedadvisor”
andworkinpartnershipwithitsclients.TheCompany
believesthattheyarewellpositionedtoachievethisgoal
giventheir:
• INDEPENDENCE-Thefirmisproudlyindependentand
itsgoalistoalignitsinterestscloselywiththoseofits
clients.
• CLIENTONLYFOCUS-Thefirmdoesn’trunprincipal
positionsandistherefore100%focusedonthe
interestsofitsclientsaboveallelse.
InstitutionalclientsofEvansandPartnerscanexpecta
highlevelofservicealongsideaproductofferingtheycan
influence–notjustagenericofferingthattheyarerequired
toaccept.
Chris NicolayDirector
32JolimontTerrace,EastMelbourne
Victoria,3002,Australia
t +61396319817
w www.evansandpartners.com.au
FortbridgeConsultingisamediaandinvestorrelationsfirm
representingpubliclylistedcompanies.Fortbridgeworks
withclientstobuildcorporatereputationandpromote
shareholdervalue.
Fortbridgeinvestorcommunicationsprogramstargeta
rangeofstakeholdersincludingshareholders,institutional
investorsandfundsandthefinancialmediainthemarkets
inwhichclientsoperate.
Withaccesstoup-to-dateresearchandinvestorcontact
informationforfinancialcentersaroundtheworld,
Fortbridgeisabletoresearchandmaintainmeaningful
sectorspecificinvestorlistsfortheirclients.Usingthis
information,Fortbridgetargetsrelevantinstitutional
investorsandfundstoengagetheirsupportfortheir
clients’IPOs,institutionalplacements,capitalraisings,
SPPsoronmarkettrades.
FortbridgeconsultantsinSydney,Beijing,London,Toronto
andSingaporehaveatrack-recordinworkingwith
clientstobuildshareholdervalueandtogrowbusiness,
tocommunicatethevalueofnewdevelopmentsandto
managesignificantissuesthatimpactreputation.
Bill KemmeryManagingDirector
FortbridgeConsulting
Level3,63WilliamSt,EastSydney
NewSouthWales,2010,Australia
t +61293310655
wwww.fortbridge.com
SupporterProfiles
C
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CM
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CY
CMY
K
ASX Advertisement_Plaque.pdf 27/9/11 8:04:48 AM
Research.Target.Engage.
media & investor communications
www.fortbridge.com
PatersonsSecuritiesisoneoftheleadingstockbroking
andfinancialservicesfirmsinAustralia.
Havingbuiltanationaladvisorynetworkcapableof
providingawiderangeoffinancesolutions,theAustralian
Stockbroker’strackrecordspeaksforitself.
Since2003,Patersonshasranked#1bynumberofequity
issuesinAustraliaraisinginexcessof$7billioninnew
capitalinover850newequityissues.
TheCompany’sCorporateFinanceTeamhasbeen
attheforefrontofinvestmentinsubstantialresources
developmentsinAustralia,AfricaandAsia.
Patersonscandeliverlargeamountsofcapital,particularly
intheresourcessector,andprovidesadvisoryservicesto
awideandvariedrangeofclients.
Supportedbyastronginstitutionaldealingarm,award
winningequitiesresearchteams,andanexpandingfunds
andassetmanagementdivision,Patersonsiscommitted
toprovidingqualityfinancialservicesandsolutionstoall
clients.
Andrew McMillanDirector,CorporateFinance
Level23ExchangePlaza,2TheEsplanade,Perth
WesternAustralia,6000,Australia
t +61892631111
w www.psl.com.au
SupporterProfiles
Patersons Securities is one of the leading stockbroking and financial services firms in Australia and is proud to support ASX Small to Mid Cap investor events. Having built an Australia wide advisory network capable of providing a wide range of finance solutions, the Australian Stockbrokers track record speaks for itself. Patersons has ranked #1 by number of equity issues in Australia every year since 2003* raising in excess of $7.2 billion of new capital in over 870 new issues.
Our corporate finance team has often been early supporters of what have become substantial resources companies not only in Australia but in Africa and Asia.
Patersons can deliver large amounts of capital, particularly in the resources sector and provides advisory services to a wide and varied range of clients. Supported by a strong institutional dealing arm, award-winning equities research teams, and an expanding funds and asset management division, Patersons is committed to providing quality financial services and solutions to our clients.
Patersons Securities Limited ABN 69 008 896 311 AFSL No. 239 052 Participant of ASX Group; Stockbrokers Association of Australia; Financial Planning Association Principal Member
*Source: Thomson Reuters
The smart money knows that some things are best kept to oneself. Perhaps that’s why you might not know about the broker that’s quietly become one of Australia’s leading financial service firms. Patersons Securities.
The Australian broker that’s been Australia’s most active in new capital raisings since 2007. The Australian broker that’s raised in excess of $6.6 billion in over 760 new issues over the past decade.
To participate in Patersons new deal flow you will have net assets of at least $2.5 Million or gross income of $250,000 or more per annum.
www.psl.com.au T H E AU ST R AL I A N STO C KB RO KE R
Never heard of the most active broker in Australia?The smart money likes it that way
For more information regarding Patersons Securities and our Corporate Finance and Institutional Dealing capabilities please call +61 8 9263 1111 or email [email protected].
TheASXGroup(ASX)wascreatedbythemergerof
theAustralianStockExchangeandtheSydneyFutures
ExchangeinJuly2006andistodayoneoftheworld’stop-10
listedexchangegroupsmeasuredbymarketcapitalization.
ASXisamulti-assetclass,verticallyintegratedexchange
group.Itsactivitiesspanprimaryandsecondarymarket
services,includingtheraising,allocationandhedgingof
capitalflows,tradingandpricediscovery(AustralianSecurities
Exchange);centralcounterpartyrisktransfer(viasubsidiaries
ofASXClearingCorporation);andsecuritiessettlementfor
boththeequitiesandfixedincomemarkets(viasubsidiaries
ofASXSettlementCorporation).
ASXfunctionsasamarketoperator,clearinghouseand
paymentssystemfacilitator.Itoverseescompliancewithits
operatingrules,promotesstandardsofcorporategovernance
amongAustralia’slistedcompaniesandhelpstoeducate
retailinvestors.
ThedomesticandinternationalcustomerbaseofASX
isdiverse.Itincludesissuers(suchascorporationsand
trusts)ofavarietyoflistedsecuritiesandfinancialproducts;
investmentandtradingbanks;fundmanagers;hedgefunds;
commoditytradingadvisers;brokersandproprietarytraders;
marketdatavendors;andretailinvestors.
WithamarketcapitalizationofoverA$1.3trilliontheAustralian
cashequitiesmarketisconsistentlyweightedinglobalindices
(MSCIandS&P/CitigroupGlobalEquitiesIndicesBMI)among
thetopeightequitymarketsintheworld.AmongAsia–Pacific
stockmarketsitissecondonlytoJapanintermsoffreefloat
marketcapitalization.
ASXoperatesinamarketthathasthefourthlargest
investmentfundassetspoolintheworldandthelargestin
Asia.Thisinvestmentpoolisunderpinnedbyacompulsory
superannuation(retirement)scheme,whichisprojectedto
growAustralianFundsunderManagement(FUM)tooverA$2
trillionby2015.
Withapproximately2,225listedissuerstheAustralianmarket
ishighlydiverse,offeringglobalinvestorsexposuretoawide
rangeofsectorsincludingFinancials,Industrials,Resources
(MiningandOilandGas),HealthcareandLifeSciences,and
InformationTechnology.
Themarketisaninternationallyrecognisedcentrefor
Resourcesequitycapital,andissuersincludeglobalgiants
suchasBHPBillitonandRioTinto,aswellasanexcellent
representationoffutureleadersinthemid-tierproducers
andjuniorminers.Themarketalsohasasignificantmining
servicessectorprovidingtechnology,servicesandsupplies
totheglobalminingindustry.
Australia’sstatusasamajorsupplierofcommodities,coupled
withitsuniquepositionintheAsia-Pacificregionandtime-
zone,providesinvestorsintheAustralianequitymarketwith
excellentexposuretothegrowthofemergingeconomiesin
theregion,exposurewhichisprovidedwithinastableand
reputablemarketenvironment.
TheAustralianequitymarkethasexperiencedoutstanding
growthinrecentyears,withannualturnoverincreasing
fourfoldandmarketcapitalizationdoublinginthelastten
years.Inthesameperiodaveragemarketliquidity,at100%in
2009,hasmorethandoubled.
ASXequitymarketreturnsinthelastdecadehavealso
beenimpressivewhencomparedwiththoseofothermarket
performances,asthegraphonthenextpagedemonstrates.
ASXisalsoamongleadingequitymarketsforinitialand
follow-oncapitalraising.TheWorldFederationofExchanges’
(WFE)datashowsthatASXwasrankedeighthintheworld
forsecondarycapitalraisedbylistedissuersin2010.
AboutASX
ASXmarketsaredrivenbyleadingedgeelectronictrading,settlement,andregistrysystems.Thiscontributestosuperiorliquidity
andsecondarymarkettransactioncoststhatareamongthelowestintheworld.
Further Information
Andrew MusgraveRegionalManager,Asia
t +61292270211
Eddie GrieveManagerListings,BusinessDevelopment
t +61292270519
The relative performance of the S&P/ASX 200 indexGlobal performance comparison
Inde
x Le
vel
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
0
50
100
150
200
250
Hang Seng Nasdaq NikkeiFTSE 100Dow JonesS&P/ASX 200
Source: IRESS
Thisisnotintendedtobefinancialproductadvice.Totheextentpermittedbylaw,ASXLimitedABN98008624691anditsrelatedbodiescorporateexcludesallliabilityforanylossordamagearisinginanywayincludingbywayofnegligence.ThisdocumentisnotasubstitutefortheOperatingRulesoftherelevantASXentityandinthecaseofanyinconsistency,theOperatingRulesprevail.
©Copyright2011ASXLimitedABN98008624691.Allrightsreserved2011.
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