SUMATRA COPPER & GOLD PLC ANNUAL REPORT

2015‌‌‌‌‌‌‌‌‌‌

SUMATRA COPPER & GOLD PLC‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌

ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2015‌‌‌‌‌‌‌‌‌‌‌‌

SUMATRA COPPER & GOLD PLC | LEVEL 1, 5 ORD STREET, WEST PERTH WA 6005, AUSTRALIA ABN 14 136 694 267

REGISTERED IN ENGLAND AND WALES | 39 PARKSIDE, CAMBRIDGE CB1 1PN UNITED KINGDOM REGISTRATION NUMBER 5777015

Corporate Directory

DIRECTORS

Stephen Daniel Robinson (Non-Executive Chairman) David Fowler (Managing Director)

Adi Adriansyah Sjoekri (Executive Director)

Jocelyn Severyn de Warrenne Waller (Non-Executive Director) Gavin Arnold Caudle (Non-Executive Director)

COMPANY SECRETARY

Mark Satterly (United Kingdom) - appointed 31 July 2015 Susan Hunter (Australia)

REGISTERED OFFICE

39 Parkside Cambridge CB1 1PN United Kingdom

AUSTRALIAN OFFICE

Level 1, 5 Ord Street West Perth WA 6005 Australia

Phone: +61 8 6298 6200

BANKERS

HSBC Bank plc 69 Pall Mall

London SW17 5EY United Kingdom

National Australia Bank 1238 Hay Street

West Perth WA 6005 Australia

CHARTERED ACCOUNTANTS AND STATUTORY AUDITORS

BDO LLP

55 Baker Street London W1U 7EU United Kingdom

SHARE REGISTRY

Computershare Investor Services Pty Limited Level 2, 45 St George's Terrace

PERTH WA 6000

Phone: 1300 552 270 (within Australia)

Phone: +61 3 9415 4000 (outside Australia)

WEBSITE

www.sumatracoppergold.com

ASX CODE

SUM

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Contents

Highlights

1

Chairman's Letter

2

Review of Operations

3

Review of Exploration

11

Mineral Resources and Ore Reserves

17

Strategic Report

21

Directors' Remuneration Report

27

Directors' Report

28

Independent Auditors' Report

36

Consolidated Statement of Comprehensive Income

38

Consolidated Statement of Financial Position

39

Consolidated Statement of Changes in Equity

40

Consolidated Statement of Cash Flows

41

Notes to the Consolidated Financial Statements

42

Parent Entity Financial Statements

73

Additional ASX Information

98

Highlights

Sumatra Copper & Gold plc (ASX: SUM), an Indonesian gold and silver mining company with a significant growth portfolio, had a successful 2015 year culminating in the commissioning of its flagship Tembang gold- silver mine.

Highlights for the calendar year 2015 were:

  • Commencement of mining operations at the Tembang Gold-Silver Project in August 2015

  • Practical completion of the Tembang processing plant on 7 September 2015, under budget and eight weeks ahead of schedule

  • First gold pour on 29 September 2015

  • Production of 2,954 oz of gold and 66,219 oz of silver

  • Mineral Resource expansions at Berenai, Siamang and Bujang

  • Equity raise of US$5 million and Tranche 2 debt drawdown of US$5 million successfully completed

Tembang Processing Plant

Our Vision - To be the best mid-tier gold producer in Indonesia in terms of value creation for shareholders, employees and the communities in which we operate.

Our Mission - As a Company and team we are dedicated to the exploration and development of sustainable mineral projects.

We aim to grow our business to create value for stakeholders involved with the Company.

We continually challenge the way in which we operate through the implementation of best practices in everything we do.

We are committed to improving efficiencies to maintain and reduce our operating costs. We invest in the development of our employees to achieve our objectives.

We seek to explore, develop and operate our projects safely with minimal impact on the environment.

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Sumatra Copper & Gold plc issued this content on 28 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 29 April 2016 00:39:09 UTC

Original Document: http://www.sumatracoppergold.com/_literature_213544/Annual_Report