Throughout his career, David has worked in many jurisdictions including Australia and Papua New Guinea, providing Papua Mining plc with first-hand experience of operating in both countries. During his 30-year career, David has focussed on gold and copper and has been personally involved with steering projects from early-stage exploration through feasibility, permitting and into the development funding phase.
David has previously worked with Robertson Research (Australia), Placer Pacific Limited, Hargraves Resources, Danae Resources (Greece) and Millennium Mining (Fiji). He has held previous CEO roles with publicly-listed ASX companies including Golden Tiger Mining (China) and Convergent Minerals Limited.
* New Board members with effect from Monday 16th October 2017
“The Company’s objective is to create a profitable, value-driven and dividend-paying business to maximise shareholder wealth. The means of achieving this will be to focus its exploration effort on world-class mineralised domains with the aim to discover and develop economic deposits of gold, copper and silver. Papua has a number of opportunities for discovery within its portfolio of tenements.
In Queensland, Papua will explore and advance its gold and copper projects whilst examining all available opportunities to capitalise on nearby operating processing plants. Through the potential use of toll treatment options at neighbouring mines, Papua aims to minimise costs of moving towards early gold production. Papua will be focussed on delivery of resources in Queensland, where historical drilling has already identified significant gold, copper and silver mineralisation.
In Papua New Guinea, the Company’s strategy will be to assess the results of its exploration at its advanced copper projects, with a view to recommencing ground-based activities once circumstances prove conducive to further exploration. In particular, appraisal of the intense hydrothermal alteration intersected in drill core will be used to vector towards copper mineralisation.
As part of its corporate strategy, Papua will also be closely monitoring and evaluating acquisition opportunities for appropriate projects that could result in near term production and positive cash flow for the Company.”
Responsibility of Directors
The audit committee has the primary responsibility of monitoring the quality of internal controls and ensuring that the financial performance of the Group is properly measured and reported on. It receives and reviews reports from the Group’s management and external auditors relating to the interim and annual accounts and the accounting and internal control systems in use throughout the Group. The audit committee meets not less than twice in each financial year and has unrestricted access to the Group’s external auditors. The audit committee is Chaired by Mr Hugh McCullough.
The remuneration committee reviews the performance of the Executive Directors and makes recommendations to the Board on matters relating to their remuneration and terms of service. The remuneration committee also makes recommendations to the Board on proposals for the granting of share options and other equity incentives pursuant to any employee share option scheme or equity incentive plans in operation from time to time. The remuneration committee meets at least twice a year and as and when necessary. In exercising this role, the Directors shall have regard to the recommendations put forward in the Quoted Company Alliance Guidelines and, where appropriate, the Corporate Governance Code Guidelines. The remuneration committee comprises Mr Michael Somerset-Leeke as Committee Chairman and Mr Hugh McCullough.
This website contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results to differ materially from those expressed in the forward looking information. These and all subsequent written and oral forward-looking information are based on estimates and opinions on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Papua Mining plc assumes no obligations to update forward-looking information should circumstances or management’s estimates or opinions change.