Speciality Metals International Limited Annual Report 2020

Speciality Metals International Limited Annual Report 2020 13 Corporate Activities Board Of Directors Subsequent to the acquisition of Mt Carbine Quarries Pty Ltd, the Company was pleased to welcome Mr Oliver Kleinhempel and Mr Zhui Pei Yeo as Non-executive Directors to its Board following their appointment on 12 August 2019 (refer ASX announcement Change of Directors released on 12 August 2019). As part of the Board changes, Mr Roland Nice resigned as a Director on the same day. Mr Nice provided six years of valuable service to the Company in his role as a Non-executive Director. Leadership Team During the quarter ended June 2020, the Company undertook an organisational alignment to support the Company’s transition from a junior explorer to an emerging and sustainable minerals and metals producer. The resignation of the former Executive Chairman and Chief Executive Officer, Mr Russell Krause took place in April 2020 (refer to ASX announcement Executive Chairman/CEO Resignation released on 24 April 2020) and the appointment of two senior executives were made in the following month: Mr Kevin MacNeill was appointed as Interim Chief Executive Officer and Senior Technical Adviser, and Ms Kim Cavallaro as Chief Commercial Officer and Chief Executive Officer-designate (refer to ASX announcement, Leadership Appointments and Organisational Update released on 13 May 2020). At the same time, it was announced that Mr Oliver Kleinhempel would assume the role of Non-executive Chairman for a transition period. Mr MacNeill commenced with the Company in May 2020 and has focused on the day-to-day operations at Mt Carbine as well as overseeing the assessment of the Company’s project portfolio to outline a strategic roadmap for the Mt Carbine developments and the gold exploration activities in New South Wales. Ms Cavallaro commenced with the Company immediately following 2020 financial year on 1 July 2020 and is working with the Board and Mr MacNeill to implement organisational frameworks in relation to the Company’s corporate and commercial processes to support its growth as a sustainable resources management company. Work is being finalised to align and agree on the Company’s corporate identity and direction and to embed the purpose, values and positioning into strategy, operations, and people practices. Additional organisational changes subsequent to the 2020 financial year included: − the departure of Mr Chris Godfrey, Chief Operating Officer on 31 July 2020; − the appointment of Mr Michael Bartlett to the newly created Quarry Manager role, on 10 August 2020; and − the appointment of Ms Suzanne Irwin as Company Secretary on the resignation of Mr Adrien Wing on 1 September 2020. The Company will continue to engage staff, as required, to build capacity and operational efficiencies for the Retreatment Plant, the XRT Sorter and quarry operations at Mt Carbine.