Last updated 24 August 2009
Board of Directors
Patrick Cheetham - Executive Chairman
Patrick Cheetham has a first class honours degree in Mining Geology from the Royal School of Mines, Imperial College, University of London. He is also a former winner of the Cominco (Europe) prize for mining geology. Patrick co-founded Archaean Gold N.L. in 1993 with his wife, Karen. At the 1995 "Diggers and Dealers" mining forum in Western Australia, Archaean Gold N.L. was awarded "Best Junior Explorer of the Year", and in July 1996 it was the subject of a successful $50 million takeover bid by Lachlan Resources NL. Prior to founding Archaean Gold, Patrick was, from 1986 to 1993 joint managing director of Dragon Mining NL, during which time he was responsible for the formation of that company, the identification of and acquisition of its exploration projects, its listing on the Australian Stock Exchange and the subsequent development of its exploration projects. Patrick operated a private mineral exploration company, Sovereign Mining Limited, in the UK from 1983 to 1985 and prior to that worked for Western Mining Corporation in Western Australia, and for Imperial Metals Corporation in British Columbia, Canada.
David Whitehead - Non-Executive Director
David Whitehead joined Tertiary in April 2002 on retiring as Vice President Integration, Exploration and Innovation at BHP Billiton Group Plc, having been with the Billiton Group since 1976. As Chief Executive, Exploration and Development of Billiton Plc from 1997 David created and introduced a market oriented and commercial approach to minerals exploration, involving the formation of strategic alliances with junior exploration companies and the leveraging of group capabilities with funding obtained in venture capital markets. Following the merger of Billiton with BHP David, among other things, lead the team responsible for the integration of the two companies' exploration and development groups. He has a broad range of exploration and general mining and management skills, including experience of project development and operating mine management, having held the position of chief geologist at both the Tynagh and Tara base metal mines earlier in his career.
Donald McAlister - Non-Executive Director
Mr McAlister is a founding director of the Company and has 19 years experience in all financial aspects of the resource industry. He was until recently finance director of Ridge Mining plc. Prior to that he was finance director of Reunion Mining in 1994 having worked previously at Enterprise Oil plc, Texas Eastern N Sea Inc and Cluff Oil Holdings plc. Donald's experience includes the economic evaluation of gold and base metal mines and the arranging of project finance for feasibility studies and mine developments. He has also been involved in the listing of Reunion Mining plc on the Luxembourg and London Stock Exchanges. He is familiar with all financial aspects of resource companies including metal hedging, tax planning and economic modelling, Reunion Mining. In October 2009 he was appointed to the board of Mwana Africa, as finance director.
Colin Fitch MA, LLM, FCIS, Barrister-at- Law - Company Secretary
Colin Fitch is a Barrister-at-Law, and was previously Corporate Finance Director of Kleinwort Benson, Partner and Head of Corporate Finance at Rowe & Pitman (SG Warburg Securities) and Assistant Secretary at the London Stock Exchange. He has also held a number of non-executive directorships of public and private companies, including Merrydown Plc. Since retiring from full time work he is currently non-executive director of African Lakes and was until recently Company Secretary of both Ridge Mining plc and Cluff Gold.
Project Manager
Richard Clemmey
Manager Administration
Judith Hayes
Management Accountant
Gwynn Lewis
Head Office
Tertiary Minerals plc (Registered in England & Wales Company No. 03821411)
Silk point
Queens Avenue
Macclesfield
Cheshire
SK10 2BB
United Kingdom
Tel : +44 (0) 845 868 4580
Fax: +44 (0) 1625 838 559
Registered Office
Tertiary Minerals plc (Registered in England & Wales Company No. 03821411)
Sunrise House
Hulley Road
Macclesfield
Cheshire
SK10 2LP
United Kingdom
Broker and Nominated Adviser
Seymour Pierce Limited
20 Old Bailey
London
EC4M 7EN
Bankers
National Westminster Bank plc
2 Spring Gardens
Buxton
Derbyshire
SK17 6DG
Solicitors
Cobbetts
58 Mosley Street
Manchester
M2 3HZ
Auditors
PKF (UK) LLP
3 Hardman Sreet
Spinningfields
Manchester
M2 3HF
Registrars
Capita Registrars
The Registry
34 Beckenham Road
Beckenham
Kent
BR3 4TU
Tel: 0871 664 0300
Oversees Helpline: + 44 208 639 3399
Companies whose shares trade on AIM are not required to make an annual statement to shareholders regarding compliance with the Combined Code. However, the Board seeks to comply with the principles of the Combined Code in so far as they are appropriate to a company of the size of Tertiary Minerals plc at this stage of its development.
Audit Committee
The Audit Committee, composed entirely of Non-Executive Directors, assists the Board in meeting its responsibilities in respect of external financial reporting and internal controls. The Audit Committee also keeps under review the scope and results of the audit. It also considers the cost effectiveness, independence and objectivity of the auditors taking account of any non-audit services provided by them.
Current Audit Committee members are:-
Donald McAlister (Audit Committee Chairman)
David Whitehead
Remuneration Committee
The Remuneration Committee comprises the Non-Executive Directors. The Remuneration Committee meets at least once a year to determine the appropriate remuneration for the Company's Executive Chairman, ensuring that this reflects his performance and that of the Group, and to demonstrate to shareholders that executive remuneration is set by Board members who have no personal interest in the outcome of their decisions.
Current Remuneration Committee members are:
David Whitehead (Remuneration Committee Chairman)
Donald McAlister
Corporate Social Responsibility
The Board takes regular account of the significance of social, environmental and ethical matters affecting the business of the Company. At this stage in the Company's development the Board has not adopted a specific policy on Corporate Social Responsibility as it has a limited pool of stakeholders other than its shareholders. Rather, the Board seeks to protect the interests of the Group's stakeholders through individual policies and through ethical and transparent actions.
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