Pathfinder Resources : Annual Report - June 2021

For personal use only

ANNUAL REPORT

For the year ended 30 June 2021

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For personal use only

PATHFINDER RESOURCES LTD

CORPORATE INFORMATION

DIRECTORS

Mr Shannon Green	Managing Director
Mr Sufian Ahmad	Non-Executive Chairman
Mr Hugh Callaghan	Non-Executive Director

COMPANY SECRETARY

Ms Ailsa Osborne

REGISTERED AND PRINCIPAL OFFICE

Suite 4.01, Level 4, 105 St Georges Terrace

Perth WA 6000

Telephone [phone]

Website www.pathfinderresources.com.au

POSTAL ADDRESS

Suite 4.01, Level 4, 105 St Georges Terrace

Perth WA 6000

AUDITORS

BDO Audit (WA) Pty Ltd

38 Station Street

Subiaco WA 6008

SHARE REGISTRY

Computershare

GPO Box 2975, Melbourne Vic 3001

ASX Code PF1

ACN 085 905 997

ABN 80 085 905 997

In this report, the following definitions apply:

"Board" means the Board of Directors of Pathfinder Resources Limited

"Pathfinder" or the "Company" means Pathfinder Resources Ltd ABN 80 085 905 997

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For personal use only

PATHFINDER RESOURCES LTD

CONTENTS

Directors' Report	4
Remuneration Report	15
Auditor's Independence Declaration	20
Consolidated Statement of Profit or Loss and Other Comprehensive Income	21
Consolidated Statement of Financial Position	22
Consolidated Statement of Cashflows	23
Consolidated Statement of Changes in Equity	24
Notes to the Condensed Financial Statements	25
Directors' Declaration	56
Independent Auditors' Report	57
Additional ASX Information	61

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For personal use only

PATHFINDER RESOURCES LTD

DIRECTORS' REPORT

For the year ended 30 June 2021

Your directors submit the financial report of the Company and its controlled entities (the Group) for the year ended 30 June 2021. In order to comply with the provisions of the Corporations Act 2001, the directors report as follows.

Directors

The names and particulars of the directors of the Company in office during or since the end of the year to the date of this report are:

Director	Position	Appointed	Resigned
Shannon Green1	Managing Director	1	December 2020
	Executive Chairman	30	March 2020	1	December 2020
Sufian Ahmad	Non-Executive Chairman	1	December 2020
	Non-Executive Director	17	March 2020	1	December 2020
James Myers	Non-Executive Director	30	April 2020	4	June 2021
Hugh Callaghan	Non-Executive Director	4	June 2021

1. On 23 September 2021, Mr Green resigned his position as Managing Director effective 16 November 2021.

Mr Shannon Green | Managing Director

Appointed 17 March 2020

Direct interest in shares: nil

Indirect interest in shares: 500,000

Interest in options: nil

Mr. Green has over 20 years corporate, resource development and mining operations experience, with extensive experience working in Africa and Australia having managed several significant projects from feasibility through construction and into operation and held senior leadership roles with several Australian iron ore and gold mining operations. Shannon was the Managing Director of Lindian Resources Ltd, an African focussed resource company with projects in three African countries, from 14 June 2019 to 30 June 2020. Prior to joining Lindian Resources Ltd, Shannon held the position of General Manager Project Implementation for ASX-listed bauxite developer Canyon Resources (ASX: CAY) where he played an instrumental role in the development of the Minim Martap Bauxite Project in Cameroon, Central Africa.

Mr. Green's professional qualifications include, Qld SSE Mine Managers Certificate, Graduate Diploma Mining Engineering, Diploma of Mining (Surface & underground) and a Diploma of (Finance) and is currently completing an MBA.

Mr Green is currently the Executive Chairman of Resource Base Limited (ASX:RBX).

Mr Sufian Ahmad | Non-Executive Chairman

Appointed on 17 March 2020

Direct interest in shares: 3,321,974

Indirect interest in shares: 745,372

Interest in options: nil

Mr Ahmad is the founder of Sixty Two Capital Pty Ltd, which specialises in providing corporate advice and capital raising services to emerging Australian companies across a diverse range of industries. Sufian brings significant legal, business and marketing experience to the Board with over 10 years' experience in trading, investing and the provision of corporate advisory services.

Mr Ahmad holds a Masters of Business Administration, a Post-Graduate Diploma in Commercial and Resources Law, Bachelor of Law (Hons) and Diploma in Financial Planning.

Mr Ahmad has not held any other listed directorships in the past three years.

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For personal use only

PATHFINDER RESOURCES LTD

DIRECTORS' REPORT

For the year ended 30 June 2021

Mr Hugh Callaghan | Non-Executive Director

Appointed 4 June 2021

Direct interest in shares: nil

Indirect interest in shares: nil

Interest in options: nil

Mr Callaghan has a significant base of global resources experience from corporate roles with Rio Tinto and Xstrata that included roles in the UK, USA, Canada, Chile, Brazil, and Australia. Mr Callaghan was the founding Managing Director of ASX listed Riversdale Mining Limited which acquired and built metallurgical coal projects in Africa and has subsequently invested in and developed copper projects in Chile, potash projects in West Africa and the USA, and a zinc, lead and silver mine in Mexico. Hugh currently advises mining projects across base, precious metals and bulk minerals in the Americas.

Mr Callaghan has significant ASX experience including being a Director of Acacia Coal Limited (March 2017 to December 2017), GSF Corporation (February 2009 to June 2009), Tamaya Resources Limited (May 2006 to October 2008) and Riversdale Mining Limited (April 2004 to August 2006). He is currently a Director of Equinox Resources Limited (June 2021 to present).

Mr Callaghan's qualifications include a Bachelor of Commerce and a Bachelor of Laws.

Mr James Myers | Non-Executive Director

Appointed 30 April 2020, Resigned 4 June 2021

Direct interest in shares: nil

Indirect interest in shares: nil

Interest in options: nil

Mr Myers has over 15 years' in equities dealing and corporate advisory experience. Previously the co-founder and Executive Director of iiZen Equites before a corporate exit to Patersons Securities, Mr Myers has held equity advisory roles at Patersons Securities and Ord Minnett Limited and is currently an Associate Director of Corporate at Adelaide based Baker Young Stockbrokers. Mr Myers has extensive small cap experience, most recently working side-by-side with Pathfinder's Executive Chairman, Mr Shannon Green, in the re-organisation, recapitalisation and marketing of Lindian Resources (ASX:LIN).

Mr Myers is currently a Non-Executive Director of Canadian based AgTech company, RotoGro International.

Company Secretary

Ms Ailsa Osborne

Appointed 28 May 2021

Ms Osborne has had more than 17 years of professional experience in the mineral resources industry with expertise in finance, operations and development. Ailsa has held senior finance roles in several listed companies operating in Australia and Internationally in South America, Indonesia and Africa.

Ms Osborne's qualifications include, CPA, BComm. Accounting and Business Law and has completed a Graduate Diploma of Applied Corporate Governance and Risk Management with the Governance Institute of Australia.

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