Speciality Metals International Limited Annual Report 2019

Page | 22 DIRECTORS’ REPORT - On 12 August 2019 the Company announced the appointment of two new Directors following the completion of the Acquisition of Mt Carbine Quarries Pty Ltd namely Mr Oliver Kleinhempel, a representative of Cronimet and Mr Yeo Zui Pei. Mr Roland Nice resigned as a Director as part of the Board changes. L IKELY D EVELOPMENTS The Company, via the Joint Venture, expects to commence production from the Tailings Retreatment Project during the 4 th quarter of 2019. The Company also commenced operating the Mt Carbine Quarry as from 1 July 2019 via its wholly owned subsidiary, Mt Carbine Quarrying Operations Pty Ltd. The Company also plans on carrying out exploration programs within its exploration prospects within the coming financial year along with continuing its exploration activities associated with the identification of additional tungsten deposits and other precious and speciality metals both within and outside of its existing exploration permits. E NVIRONMENTAL R EGULATION & P ERFORMANCE Speciality Metals and its related entities endeavour to remain compliant with all aspects of the environmental regulations governing their exploration and mining activities. The Directors are not aware of any significant environmental laws or EA licence conditions that are not being complied with. I NFORMATION ON D IRECTORS Russell H. Krause | Executive Chairman Mr Krause was appointed Non-Executive Chairman of the Company on 30 June 2013 and Executive Chairman on 14 November 2017. Mr Krause has over 25 years’ Executive Management and Director level experience in a range of corporate advisory, stockbroking, and investment banking roles with some of Australia’s leading financial services firms. Mr Krause also has extensive experience in the resources sector providing equity capital markets, capital raising and corporate advisory services to a range of ASX listed mining and energy companies. Mr Krause is currently a Director of Novus Capital Limited. Stephen Layton | Non-executive Director Mr Layton was appointed Non-executive Director on 14 November 2017 and has over 35 years’ experience in Equity Capital Markets in the UK and Australia. Starting as a Jobber (market maker) with BZW on the trading floor of the London Stock Exchange from 1980 to 1986, he became a Member of the London Stock Exchange in 1985. Since migrating to Australia in 1986 Mr Layton has worked with various stockbroking firms and/or AFSL regulated Corporate Advisory firms. Having raised capital for many ASX- listed companies, he has a depth of knowledge that only comes from a thorough immersion in the industry. Mr Layton has specialized in capital raising services and opportunities, corporate advisory, facilitation of ASX listings and assisting companies grow. Mr Layton has held both Principal and Director roles in his advisory career and his professional associations include Master Practitioner Member of the Stockbrokers and Financial Advisors Association – MSAFAA. Mr Layton is also currently a Non- Executive Director of ASX listed New Age Exploration Limited [ASX:NAE] and Mithril Resources Limited [ASX:MTH]. Oliver Kleinhempel | Non-executive Director – Appointed 12 August 2019 Mr Kleinhempel was appointed Non-executive Director on 12 August 2019. Mr Kleinhempel started his career at Outotec, a leading Minerals & Metals Processing Technology Company, where he spent several years in Europe, South America and Southeast Asia on various assignments. In the recent 8 years Mr Kleinhempel held various Executive Management positions in the project development, finance and commodity trading sector, with a regional focus on Asia-Pacific. Mr Kleinhempel holds a Bachelor's Degree in Business Administration from the Cooperative State University Baden-Wuerttemberg (Germany) and obtained a Master's Degree from the Mining Institute of the Clausthal University of Technology (Germany). Yeo Zhui Pei | Non-executive Director – Appointed 12 August 2019 Mr Yeo was appointed Non-executive Director on 12 August 2019. Mr Yeo graduated with first class honours from the Imperial College London in Electrical and Electronic Engineering. Since then, Mr Yeo has been working at a leading system integrator in the telecommunications industry in South-East Asia. Over the years, he has taken on executive, management and supervisory roles. This has allowed him to gain a wide range of experience from project planning to resource management to commercial negotiations. Mr Yeo is also a Director of a steel-product manufacturer. Roland W. Nice (B.Sc (Metallurgical Engineering) | Non-executive Director – Resigned 12 August 2019 Mr Nice was appointed a Non-Executive Director of the Company on 30 June 2013. Mr Nice is a Metallurgical Engineer with over 45 years’ experience. Mr Nice has a strong track record in mineral processing and metallurgy, most recently as a consulting Metallurgical Engineer in the role of Senior Associate for Behre Dolbear Australia, where he was involved in due diligence activities and consulting on some of the world’s largest poly-metallic, gold and uranium projects including Newcrest’s Cadia, Ridgeway and Telfer gold projects, Barrick’s Cowal gold project, LionOres’s Thunderbox gold project and numerous other non-ferrous metal mining projects. Mr Nice’s work as a consultant has included specific experience in tungsten processing. Prior to this, Mr Nice was the Principal at a technical consulting firm, R.W. Nice and Associates, which followed approximately 20 years in a range of roles with Pancontinental Mining Limited, including General Manager Technology and Metallurgy.