BOARD OF DIRECTORS

Michael Fitzroy Somerset-Leeke

Non Executive Chairman

Michael Somerset-Leeke was formerly Chairman of Winchmore PLC, a quoted investment trust which developed a significant presence in the leisure sector. Prior to this Mr Somerset-Leeke was Senior Partner at Coni & Covington Stockbrokers.

Paul Johnson

Non Executive Director

Paul Johnson was previously the Chief Executive Officer of Metal Tiger Plc, a company quoted on the AIM market of the London Stock Exchange, and is Non-executive Director of Metal NRG Plc, a company quoted on the ISDX Growth Market. Paul is a Chartered Accountant, and an Associate of the Chartered Institute of Loss Adjusters and of the Chartered Insurance Institute. He holds a BSc (Hons) in Management Science from UMIST School of Management in Manchester.

David Price

Chief Executive Officer

David Price is a geologist and mining executive with +30 years experience in the global mining industry. Relevant porphyry, epithermal, vein-hosted and intrusion-related experience in Queensland Australia, Papua New Guinea and the Philippines. David is experienced in a number of roles within the resources sector including Chief Executive Officer, Managing Director, Country Manager, Exploration Manager, Project Manager, Chief Geologist and Senior Geologist.

Hugh Martin McCullough

Non Executive Director

Hugh McCullough has over 40 years’ experience in gold and base metal exploration, principally in Ireland, Ghana and Mali. Having previously worked as a project geologist, in 1982 he became chief executive of Glencar Mining plc, a public company listed on the IEX (of the Dublin Stock Exchange) and AIM. Hugh was responsible for the management, financing and strategy of Glencar for over 27 years until Glencar was taken over by Gold Fields Limited in September 2009. During his time at Glencar, Hugh was involved in a number of multi million ounce gold discoveries and oversaw the development of certain gold deposits from exploration to production. Hugh is a Professional Geologist and holds an Honours degree in Geology from University College Dublin and the degree of Barrister-at-Law from the King’s Inns, Dublin. In 1994 he was appointed by the then Irish Minister for Energy to the National Minerals Policy Review Group to review Irish Minerals Policy and to make recommendations to the Minister for the reform of the fiscal and regulatory policy for the mining industry in Ireland.

Kieran Harrington

Non Executive Director

Kieran Harrington is a geologist with 30 years of experience and expertise in gold exploration, mine development, project evaluation and project management, with particular experience and past success in exploration of gold deposits in West Africa and Europe. He joined Glencar Mining plc in 1992 as a senior geologist where he was involved in the discovery of a major commercial mine in Ghana (Wassa) and the more recent discovery of the Komana Deposit in Southern Mali. He left Glencar as Technical Director on its acquisition by Gold Fields Limited in 2009. Prior to joining Glencar, Kieran worked with Tara Prospecting Ltd and Burmin Exploration and Development Ltd. Kieran is a Professional Geologist holding an Honours degree in Geology from the National University of Ireland, Galway.

John Haggman

Technical Director

John Haggman is a mining executive with +30 years experience in the global mining industry. Relevant porphyry, epithermal, vein-hosted and intrusion-related experience in Queensland Australia, Papua New Guinea and the Philippines. phosphate R&D). With a proven track record of exploration and development success in Australia and the Asia-Pacific. John was an integral part of the exploration team responsible for the discovery and permitting of the Didipio orebody in the Philippines and the Junctions Reef deposit in NSW. He was also closely associated with the exploration and feasibility studies on the Blue Vein gold deposit, W.A and the Amazon Bay ironsands project, PNG.

Management Team

John Haggman

Technical Director

A geologist and mining executive with +30 years experience in the global mining industry. Relevant porphyry, epithermal, vein-hosted and intrusion-related experience in Queensland Australia, Papua New Guinea and the Philippines. John's past work experience includes roles as: Executive Director MIL Resources Limited (ASX listed), Non-Executive Director Convergent Minerals Limited (ASX listed), Non-Executive Director Foyson Resources Limited (ASX listed), Executive director of private companies King Eagle Resources Pty Limited, Titan Mines Ltd (PNG), Titan Metals Ltd (PNG), Fairway Resources Ltd (PNG), NQ Metals Pty Limited, AFL Resources Limited. Other roles include Vice President Exploration - Climax Mining Limited, Country Manager (Philippines) – Climax Arimco Mining Limited and senior geologist -Cyprus Gold Australia. While John's current roles include: Executive director of private companies - BGM Investments Pty Limited (north Queensland gold, copper exploration); Perlco Pty Limited (perlite / pitchstone production and R&D; Quest Asia Pacific Resources (Philippines); Jet Metals Pty Limited (

David Price

Chief Executive Officer

David is a qualified Geologist and Mining Executive with more than 30 years of experience in the mining industry. David is a Fellow of the Australian Institute of Mining and Metallurgy and is credited as a Competent Person for Mineral Exploration under the Joint Ore Resource Committee (JORC) Code guidelines.

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

Company Strategy

 

“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

 

Audit Committee
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 comprises TBE

Remuneration Committee
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 is chaired TBE

Disclaimer

 

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.