Resources CFO 2012
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  • 1. R pit C Ex uc ra ed al a pe e t isinRESOURCES rt ax g ad lia so vi bi lut so lit io ry ies nsCFO4 - 6 December 2012, Pan Pacific Hotel, PerthCapital raisings – tax implications – finance & business risk strategiesGeoff Simpson, Eddie Grieve, Roger Rose, James Cooper- Richard Sheridan, Mathew Herring, Campbell Jaski, Steve Jones, ChiefPartner, Senior Manager, Deputy Chief Jones, Chief Financial National ENR R&D Partner, Financial Officer,ALLEN & OVERY Listings Business Economist, CFO & Officer & Company Partner, PPB ADVISORY SOUTHERN Development, BREE, Company Secretary, KPMG CROSS ASX FEDERAL Secretary, KBL MINING GOLDFIELDS GOVERNMENT IMPACT MINERALSPeter Wilkes, Partner, ALLEN & OVERY Stuart Moran, Division Director, MACQUARIE CAPITALWayne Basford, Partner, BDO Soruban Rajakulendran, Associate Director, MACQUARIE CAPITALBrad Wylynko, Partner, CLAYTON UTZ Justin McGovern, Director, MKT TAXATION ADVISORSDavid Ocello, Partner - Corporate Tax, DELOITTE Peter Morris, Partner, PPB ADVISORYJonathan Schneider, Corporate and International Tax, DELOITTE Andrew Rowell, Managing Director, PURSUIT CAPITALPeter Wirtz, Senior Manager, R&D Incentives Tax, KPMG Matt Fitzgerald, Chief Financial Officer, SANDFIRE RESOURCES NLTony Locantro, Managing Director, LOCANTRO CAPITALConference highlightsn Equity vs. debt: applicability of equity, structured debt and n Improving working capital, cash available and capital other hybrid alternatives employedn Mitigating risks of accessing capital through M&As and JVs n Ensuring an appealing bankable feasibility study to attractn Expert advisory on how best to account for MRRT, PRRT investors and Carbon tax n Successfully navigating the junior to mid-cap transitionn ASX initiatives to improve liquidity and facilitate capital n Benefits of the new research & development tax incentives raising to producers and explorers n Insightful analysis of the business impact of the new IFRS n Understand risks allocation between parties and the accounting standards liabilities arising under the legislationPre-conference Masterclass: Tuesday 4 December 2012 Emerging capital raising options and alternatives – insights for mid to small cap producers and explorersAnother premier event brought to you by Resourceful EventsDeveloping managers & team leaders in the resources sector Organised by BOOK EARLY TO SAVE UP TOFor more information and to register visit www.resourcefulevents.com $440 to register 02 9279 2222 02 9279 2477 info@resourcefulevents.com www.resourcescfo.com
  • 2. RESOURCES CFOCapital raisings – tax implications – finance & business risk strategiesPRE-CONFERENCE MASTERCLASS CONFERENCE DAY ONETuesday 4 DECEMBER 2012 WEDNESDAY 5 DECEMBER 20128:15 Registration and morning coffee 8.20 Registration and morning coffee Lunch at 12.00 with morning and afternoon tea breaks provided 8.50 Opening remarks from the Chair James Cooper-Jones, Chief Financial Officer & Company Secretary,9:00 - 4:00 MASTERCLASS IMPACT MINERALSEmerging capital raising options and alternatives –insights for mid to small cap producers and explorers RESOURCES UPDATE & MARKET ANALYSISn Reviewing key traditional forms of fundraising for mineral explorers and small cap producers, including the role of rights issues/entitlement 9.00 KEYNOTE offers Dealing with the critical business risks facing Australia’s Resources sectorn Understanding emerging alternative sources of finance for junior mineral n Identifying and dealing with critical financial and business risks facing explorers and small cap producers the resources sectorn Assessing applicability of equity, structured debt, hybrid and other n Understanding the tools available to help Resource CFOs improve risk funding alternatives - depending on stage of advancement assessment and financing optionsn Accessing alternative sources of capital for growth and/or restructure n Dealing with the impacts of resources nationalism on equity marketsn Understanding the practicalities of revolving equity line/converts and and international investments n Assessing the risks associated  with alternative sources of funding similar alternative products n Addressing solvency concerns at board leveln How successful have recent M&A transactions been as equity raising n Managing cost pressures in a competitive environment alternatives? Campbell Jaski, Partner,n Seeking capital via strategic partners and export credit agencies – PPB ADVISORY factors to considern Seeking capital by way of asset sales – key considerations TAX OBLIGATIONS & IMPLICATIONSn Restructuring capital to make it appealing for investors 9.45n Identifying the right market conditions to take advantage of the different Carbon tax post July 2012 - analysing the economics capital raising alternatives of the Carbon Taxn Chasing the deals. Review which international investee forums have n Analysing the financial implication of the Carbon tax post 1 July 2012 given the best results? n Carbon tax and investment - keeping your international competitive edgen Finalising your capital raising - processes to follow n Measuring your NPV in a carbon tax era n Examining the impact of carbon price on unincorporated joint ventureAbout your Masterclass facilitator: interests Andrew Rowell, n Evaluating how the carbon tax interacts with PRRT, MRRT and Managing Director, company Tax PURSUIT CAPITAL n Understanding the implication of Carbon pricing mechanism for financial reporting Andrew Rowell is a qualified and experienced geologist,resources analyst and corporate financier. Andrew has significant 10.30 Morning teaexperience in analysing resources based companies and opportunitiesfrom both a corporate and finance perspective. Andrew has over eleven 10.50 years experience as an exploration geologist in Australia and a further Analysing the technicalities, obligations & liabilitiesseven years experience in the financial services sector. Prior to establishing of the MRRT & PRRT - Expert InsightPursuit Capital, Andrew was an Associate Director of corporate advisory n Introduction of the MRRT: How does it affect you?group, Inteq Limited and was integral in completing numerous corporate n Impact of the MRRT on the effective company tax ratetransactions and capital raisings. Prior to his position with Inteq, Andrew n Overview of the new MRRT regimewas the Senior Resources Analyst at Perth broking firm, Hartleys, covering n Analysis of the up-front and on-going implications and obligations undera diverse range of resources companies in the base metals, precious the MRRT n Impact of the MRRT on financial reporting, M&A and financingmetals, coal, oil and gas industries. Andrew holds an Honours Degree in n PRRT extended: How does this affect you?Geology from Flinders University and a Masters in Mineral Economics from n Fundamental PRRT concepts and principlesthe Western Australian School of Mines. n Overview of the expanded regime and key issues n PRRT implications and considerations of acquiring a project interest n PRRT and Joint Ventures Arrangement: What you need to know David Ocello, Partner - Corporate Tax, & Jonathan Schneider, Corporate and International Tax, BOOK NOW TO SECURE YOUR PLACE DELOITTE SEATS ARE LIMITED to register 02 9279 2222 02 9279 2477 info@resourcefulevents.com www.resourcescfo.com
  • 3. RESOURCES CFO 25 - 27December 2012, Pan Pacific Hotel, Perth 4 - 6 September 2012, Stamford Plaza, Brisbane 11.50 4:10 CASE STUDY Understanding the emissions & carbon reporting Learning from recent capital raisings – Insights from requirements for Resources CFOs various case studies n Meeting your obligation through timely reporting n Globalisation of capital markets n Understanding carbon reporting and liabilities under joint venture and n Practical insights to help decision process strategic alliance arrangements n Understanding important factors to consider n Cost pass through - legal issues in allocating costs and risks n Capital raising options & commercial rationale for specific choice n Allocating risks between parties and the liabilities arising under the Stuart Moran, Division Director, & legislation Soruban Rajakulendran, Associate Director, n Examining mechanism to ensure transparency and equity MACQUARIE CAPITAL Brad Wylynko, Partner, CLAYTON UTZ 4.55 Closing remarks from the Chair 12.35 Lunch 5.05 Close of day one CONFERENCE DAY TWO 1.35 Emerging Income tax opportunities & traps Thursday 6 DECEMBER 2012 n Income Tax implications of Farm Outs 8.30 Morning coffee n Understanding the future implications of MRRT decisions n Exploration & prospecting deductions – is the landscape changing? n Examining the deductibility of Share Based Payments 8.50 Opening Address from the Chair Justin McGovern, Director, MKT TAXATION ADVISORS ECONOMICS & CAPITAL RAISING 2.20 CASE STUDY 9.00 KEYNOTE Benefits of the new Research and Development tax Economic update and insight into price and market incentives to producers and explorers volatilities n Overview of new R&D tax credit, including 45% cash refund n Examining the impact of global macroeconomic news on equity markets n Eligible R&D activities undertaken by explorers and producers n Emerging market risks, commodity and resource volatilities n Analysing the investment and capital outlook of various commodities n Accessing the R&D program n Analysing commodity fluctuations and impact on capital raising n Potential claims for overseas explorations n Dealing with the concerns of the impact of new taxes on commodities n Dealing with the challenges relating to the new compliance regime n Taking advantage of the research and development tax incentives - what Roger Rose, Deputy Chief Economist, you stand to gain BUREAU OF RESOURCES AND ENERGY ECONOMICS, Mathew Herring, National ENR R&D Partner, & DEPARTMENT OF RESOURCES, ENERGY AND TOURISM Peter D Wirtz, Senior Manager, R&D Incentives Tax, KPMG 9.45 Specialised funding - accessing sufficient capital 3.05 Afternoon tea for projects development and expansion n Debt capital markets - what juniors and mid-tier explorers need to be Junior to mid-cap transition considering n Deciding between equity capital raising and internal funding 3.25 CASE STUDY n Considering debt based financing versus equity based financing Practical consideration for junior explorers and n Understanding key practicalities of using M&A and JVs to fund projects producers looking to transition to mid-tier entities n Mitigating the risks of accessing capital through M&As and JVs n Engaging shareholders and would be investors n Sourcing the right financing vehicles for your projects n Improving the quality of share register Geoff Simpson, Partner, & n Factors to consider when weighing broker options Peter Wilkes, Partner, n Examining secondary listing options to finance project expansion ALLEN & OVERY n Presenting capital management structures that appeals to investors 10.30 Morning tea n Understanding the full-cycle economics as impacted by increasing operating prices 11.00 n Business strategies to consider in the transition process Strengthening Australia’s equity markets - discussing n Navigating operational and risk management realities ASX initiatives to improve liquidity and facilitate Matt Fitzgerald, Chief Financial Officer, capital raising SANDFIRE RESOURCES n Reviewing recent and ongoing ASX initiatives and reforms n How the initiatives are directed at  better capital market outcomes for small to mid-cap resource companies n Understanding the new capital raising listing rules n Assessing the impact of the changes Eddie Grieve, Senior Manager - Listings Business Development, AUSTRALIAN SECURITIES EXCHANGE to register 02 9279 2222 02 9279 2477 info@resourcefulevents.com www.resourcescfo.com
  • 4. RESOURCES CFO Capital raisings – tax implications – finance & business risk strategies 11.45 Case Study NEW IFRS REPORTING STANDARDS Ensuring appealing bankable feasibility studies to attract the right investors and financiers 4.05 n Analysing what investors and banks are looking for in your projects Insightful analysis of the impact of the new IFRS n Understand how banks now measure and evaluate risk on projects Accounting Standards for the Resources sector n Understanding how financiers assess your projects for finance n Broad analysis of the new  IFRS standards  impacting the resources n Convincing investment banks and big lenders - facts to consider sector n Understanding the timing, process and associated cost relating to n Transitioning from IAS 31 to IFRS 11 and interaction with IFRS 10 and delays IFRS 12 Steve Jones, Chief Financial Officer, n Understanding the changes and new interpretations SOUTHERN CROSS GOLDFIELDS n Examining the implication of the transition from proportionate consideration to the equity method 12.30 Lunch n Understanding the transitions proportionate consolidation to the equity method  of accounting to accounting 1.30 n Analysis of the ramification of the changes for joint arrangements as Raising capital whilst keeping shareholders happy – newly defined (joint ventures and joint operation insight from various case studies n Overcoming the challenges of adopting and applying IFRS 11 n Understanding what retail investors want and may expect when it n Examining the core essentials of IFRS 10 and its ramifications comes to capital raisings n Analysing the interactions between IFRS 10, IFRS 12, IAS 27, IAS 28 n Overcoming negative perceptions of capital raisings and IFRS 11 n How to raise capital in a “positive” manner n Key issues resource companies need to be considering pre and post Tony Locantro, Managing Director, January 2013 LOCANTRO CAPITAL n Understanding the new interpretation in IFRS 12 and what you need to disclose STRATEGY & OPERATIONS BEST PRACTICE n Future changes, considering potential impact of the revenue and the leases projects on the resources sector 2.15 Wayne Basford, Partner, Head of Technical Services Australia, Improving working capital and achieving an overall BDO improvement of Cash available and capital employed n Effectively managing and negotiating payment terms for customers and 4.50 Closing remarks from the Chair suppliers n Measuring the internal cash and cash life cycle Working capital funding 5.00 Close of conference and forecasting working capital n Identify and quantify the trade-offs that need to be made in sales and procurement process Resources CFOs are faced with competing demands, n Enterprise value: Improving value by Identifying and improving key increasing cost pressures and compliance burden. This drivers of working capital consumption conference is strategically organised to help you improve Richard Sheridan, Chief Financial Officer and Company Secretary, efficiency, control and best practice business risk strategies. KBL MINING The conference promises insightful expert advisory and 3.00 Afternoon tea analysis from some of Australia’s leading Accounting, Tax and Law firms. You also get to network and share 3.20 experiences with on how best to respond to the challenges Best practice for dealing with the risks of bribery & of current business landscape. corruption n The current legislative framework for bribery and corruption Also, register today for the pre-conference masterclass n Dealing with illegal payments to get practical capital raisings solutions and emerging n Due diligence around third party as part of anti-corruption control alternatives. framework n Establishing & encouraging whistle blowing mechanism Take advantage of the early bird offer and save up to $440 n Best practice in dealing with bribery & corruption Peter Morris, Partner, PPB ADVISORY to register 02 9279 2222 02 9279 2477 info@resourcefulevents.com www.resourcescfo.com
  • 5. RESOURCES CFO Capital raisings – tax implications – finance & business risk strategies The Resources CFO 2012 conference will enable a platform for CFOs Business Development Opportunities of mining, oil and gas sectors to network and share innovative ideas and strategies for achieving the bottom line and to better derive value Event sponsorship provides an excellent opportunity to promote from volatility. The conference sessions will showcase experienced line your company, to support your brands and to maintain a high of speakers and expert advisory, with two days of insightful analysis, profile among specialists before, during and after the event. We practical case study presentations and keynotes. You will leave with better offer tailored sponsorship opportunities designed to meet the needs of understanding of how to keep your company’s competitiveness and companies sponsoring the event. viability in an extreme risk business environment. Please contact: Shoaib Mughal on 02 8252 9413 or email shoaib.mughal@resourcefulevents.com Who should attend: Official Media n CFOs n Corporate Finance Managers n GM Finance n Accountants n Company Secretaries n Tax Managers n Financial Controllers n Director/Executive Directors n Finance Analysts Key topics of focus: n Capital raisings options and alternatives n Dealing with the business risks facing Australia Resources sector n Recent economic updates and market analysis to aid your decision processes n Financial, reporting and commercial impact and  implication of MRRT, PRRT and carbon tax n New IFRS accounting standards - what you need to know! n Successfully navigating the junior to mid-cap transition n Insights into ASX new measures to ease equity raising for mid cap to Supporting Media junior n Budgeting and forecasting in an era of new taxes n Insights into how explorers and producers can take advantage new Research and Development tax incentives Why you should attend: Network and share ideas with colleagues on winning strategies in increasingly volatile business environment Hear from leading advisory and equity experts on emerging capital raisings options and alternatives. FREE Subscription offer Learn the obligations of and how to better account for MRRT, PRRT and Carbon tax to reduce your liabilities Delegates are entitled to a complimentary trial subscription to any of the following Aspermont publications*: Understand how to better navigate the transition from junior to Australia’s Mining Monthly midcap entity One of the most authoritative mining news magazines produced in the Asia-Pacific region (3 editions) RESOURCESTOCKS About Resourceful Events The leading resource sector investment magazine (2 editions) Australian Longwall Magazine Resourceful Events researches and develops The leading source of information on the Australian longwall sector (1 edition). Coal USA industry summits providing key strategic and Focusing exclusively on the longwall & room & pillar industries (1 edition) operational insight for the mining, oil, gas and CONTRACTOR related communities. Australia’s national construction, earthmoving & civil works magazine (3 editions) Cranes & Lifting Australia As the Australian conference division of Aspermont Limited – publisher The voice of the cranes and lifting industry (1 edition) WME of Australia’s leading print and internet publications for the mining, oil & Australia’s leading environment business magazine – covering waste, water, air, & gas, and related sectors – we have strong market reach to the resources sustainable development. (3 editions) industry, resources sector service providers, and the resources investment * Conditions - within Australia only; new subscriptions only; does not replace existing sector. We specialise in events for the resources sector, and look forward subscriptions; for one of the above publications. Post-event, Aspermont will be in contact to fulfill your subscription trial. to welcoming you soon. to register 02 9279 2222 02 9279 2477 info@resourcefulevents.com www.resourcescfo.com
  • 6. RESOURCES CFO Capital raisings – tax implications – finance & business risk strategies 4 - 6 December 2012, Pan Pacific Hotel, Perth PHONE 02 9279 2222 FAX 02 9279 2477 EMAIL info@resourcefulevents.com MAIL Resourceful Events Level 4, 333 George Street, Sydney NSW 2000 OR BOOK ONLINE www.resourcescfo.com BROCHURE CODE RA708 MM WEB VENUE INFORMATION Pan Pacific, Perth www.panpacific.com/Perth 207 Adelaide Terrace, Perth 08 9224 7777 FEE TABLE Book by 28 September 2012 Book by 2 November 2012 Thereafter Price GST TOTAL Price GST TOTAL Price GST TOTAL SAVE SAVE 3 Day package $3195 $319.50 $3514.50 $440 $3395 $339.50 $3734.50 $220 $3595 $359.50 $3954.50 2 Day conference $2395 $239.50 $2634.50 $440 $2595 $259.50 $2854.50 $220 $2795 $279.50 $3074.50 Pre-conference masterclass only $1395 $139.50 $1534.50 $220 $1495 $149.50 $1644.50 $110 $1595 $159.50 $1754.50Free Aspermont trial subscription choice (see page 5 of the brochure) please select your preferred publication: Australia’s Mining Monthly (3 editions) Australian Longwall Magazine (1 edition) Coal USA (1 edition) WME (3 editions)10% discount for bookings of three or more! Contractor (3 editions) Cranes & Lifting Australia (1 edition) ResourceStocks (2 editions)Your Details (Please use BLOCK LETTERS)(Mr/Mrs/Ms/Miss/Dr) First Name Last NameJob Title DepartmentDirect Tel ( ) Mobile ( )Email Direct Fax ( ) Yes, I would like to receive information on future events via email. By giving you my email address, I am giving only the organisers the permission to contact me by email.Approving Manager(Mr/Mrs/Ms/Miss/Dr) First Name Last NameJob Title DepartmentYour Company DetailsCompany NameBusiness Nature No. of EmployeesAddressCity State Postcode CountryPayment Options: Credit CardPlease tick the relevant box to indicate your method of payment.(* When making payment, please include delegate name and conference code RA 708) Card Type:Please tick the relevant box to indicate method of payment Card No. Bank Transfer Bank transfer should be made to: Resourceful Events Pty Ltd Cardholder’s Name Payment in AUD$ BSB no.: 086-082 Account no.: 597-734-540 Swift code: NATAAU 3303M Cardholder’s Signature Bank address: National Australia Bank West End Branch, 197 St Georges Terrace, Perth WA 6000 Expiry Date (mm/yy) Security Code (CVV2): Cheque or Bankdraft Please make your crossed cheque or bank draft payable to: Resourceful Events Pty Ltd. in AUD$ only. Payment Amount (AUD$) PLEASE mail your cheque or bank draft and registration form (including mailing label): Customer Date: Service, Resourceful Events Pty Ltd, Level 4, 333 George Street, Sydney, NSW 2000 Cancellation Policy: Should you be unable to attend, a substitute delegate is always welcome at no extra charge. We can also provide a credit note for attendance at any future events. Alternatively, a 50% refund will be provided for cancellations received in writing (letter or facsimile) no later than four weeks prior to the event; thereafter we regret no refunds can be made. Resourceful Events Pty Ltd reserves the right to alter the programme without notice including the substitution, alteration or cancellation of speakers and / or topics and / or alternation of the dates and / or location of the event. © 2012 Resourceful Events Pty Ltd. All rights reserved. Please Note: On-site registration / payment: AU$220 surcharge will be collected and no discounts are available. #Early bird rates are contingent upon payment being received within 14 days from the registration date. Group discounts are available for three or more bookings from one company, please contact the organiser for more information. All discounts can only be applied at the time of registration and discounts cannot be combined. In the event that more than one discount is applicable, delegates will receive the discount with the highest value. All discounts are subject to approval. Please note the conference fee does not include travel or hotel accommodation costs.