20974 29Metals AR23 WEB V1 - Flipbook - Page 9
2023 key
results
Chair letter and
CEO report
About
29Metals
Board and Management
female participation2
26%
3%
2023
2022
23%
Capital raise3
$151m
Our
assets
Sustainability
& ESG Report
Mineral Resources
and Ore Reserves
Annual
Financial Report
Significant
improvement
in safety
performance –
TRIFR
Increased focus
on mental health,
safety and wellbeing
Carib
Capricorn Copper
2024 – Our priorities
The priori琀椀es for 29Metals and the Board
in 2024 are clear:
■
■
■
build upon and extend produc琀椀vity and
costs improvement at Golden Grove;
addressing the water challenges at
Capricorn Copper, and moving to a
successful and sustainable restart as
soon as possible; and
con琀椀nue to unlock the organic growth
poten琀椀al of our assets.
These priori琀椀es are an important 昀椀rst
step in restoring the con昀椀dence of our
shareholders.
The Board is also reviewing our
remunera琀椀on arrangements. We are
examining changes to Directors’ fees
and the way performance-based
remunera琀椀on is delivered to ensure
that our remunera琀椀on arrangements
are right-sized for the Company
and to strengthen the link between
shareholder value and execu琀椀ve
remunera琀椀on outcomes.
29Metals’ Vision
29Metals’ Vision and strategy remain
intact. There is no be琀琀er 琀椀me to be a
company that produces copper and the
other metals that are cri琀椀cal to the global
energy transi琀椀on.
The Board are unanimous in the view that
29Metals is strongly placed to deliver
against this Vision, and that we have the
team and assets to do it.
Our shareholders
The Board and I greatly appreciate the
support of our shareholders during
the challenging year that was 2023.
That support was re昀氀ected in our
successful capital raising last year.
We recognise that the job of all of us at
29Metals is to deliver against the Vision
and to deliver shareholder value.
I look forward to seeing many of you at
our 2024 Annual General Mee琀椀ng to be
held on 21 May 2024.
Yours sincerely
Owen Hegarty OAM
Non-executive Director
Chair of the Board of Directors
1. Refer to: “Impact of Extreme Rainfall on Capricorn Copper Opera琀椀ons” released to the ASX announcements
pla琀昀orm on 9 March 2023; “Capricorn Copper Opera琀椀ons Update” released to the ASX announcements pla琀昀orm
on 15 March 2023; and “Strategic Update” released to the ASX announcements pla琀昀orm on 23 May 2023.
2. As at 31 December 2023.
3. Gross proceeds.
Scaling of underground
work area. An important
pre‑commencement task
undertaken to ensure no
loose rocks can fall from the
walls into the work area.
5
