AI assistant
BATHURST RESOURCES LIMITED. — AGM Information 2017
Nov 27, 2017
64563_rns_2017-11-27_e70aa7c9-168d-4496-b402-1f8286fa2b1b.pdf
AGM Information
Open in viewerOpens in your device viewer
T +64 4 499 6830 F +64 4 974 5218 E [email protected]
Level 12, 1 Willeston Street Wellington 6011, New Zealand PO Box 5963 Lambton Quay Wellington 6145, New Zealand
==> picture [154 x 25] intentionally omitted <==
==> picture [154 x 14] intentionally omitted <==
==> picture [154 x 25] intentionally omitted <==
28 November 2017
Market Announcements Office Australian Securities Exchange Level 4 20 Bridge Street Sydney NSW Australia
==> picture [154 x 13] intentionally omitted <==
==> picture [154 x 25] intentionally omitted <==
==> picture [154 x 13] intentionally omitted <==
CHAIRMAN’S ADDRESS 2017 ANNUAL GENERAL MEETING
On behalf of the Board of Bathurst Resources Limited (ASX: BRL) attached is the Chairman’s Address to be given at the 2017 Annual General Meeting being held at 9am (NZDT) on Wednesday 29 November 2017.
==> picture [179 x 72] intentionally omitted <==
Bill Lyne Company Secretary +61 4 1887 4175
CHAIRMAN’S ADDRESS
ANNUAL GENERAL MEETING 2017
BATHURST RESOURCES LIMITED
This year is significant in that we were successful in the acquisition of the Solid Energy assets of Stockton, Rotowaro and Maramarua. As shareholders you should be proud of the achievement. As well as that transaction we are continuing to pursue operating efficiency and delivering on our strategy. Overall our strategy is working.
We now have a robust business based on our domestic operations in both the North and the South Islands and export coking coal via our Stockton mine.
It is important to acknowledge our shareholders that supported the transaction. These types of transactions are never without any risk. We also acknowledge our joint venture partner, Talley’s. The relationship is strong and we are working well together via BT Mining.
The company produced underlying profit of $1.3m in FY17 and an EDITDA of $11.2m with a strong cash flow of $8.9m. We expect increased returns via BT Mining will start to flow from now on.
Most importantly, we are proud to have recorded another year with no significant injuries reported. This is a result of the continued efforts from board and management and the whole Bathurst workforce to entrench a culture of safety above all else across all of our operations.
Page | 2
In closing, I would like to acknowledge the efforts of my fellow directors, management and staff over the past year for all their hard work.
On behalf of the board, I would also extend our appreciation to our shareholders for their continued support.
Page | 3