Events occurring after reporting date No other matter or circumstance has occurred subsequent to year end that has significantly affected, or may significantly affect, the operations of the Group, the results of those operations or the state of affairs of the Group or economic entity in subsequent financial periods. Significant changes in the state of affairs Other than those matters discussed in this report, no significant changes in the state of affairs of the Group occurred during the financial period. Likely developments and expected results The Group will continue exploration and development activities. The Group assesses commercial opportunities for corporate growth, including the acquisition of interests in projects, as they arise. Due to the unpredictable nature of these opportunities, developments could occur at short notice. Environmental regulation The Group is subject to the environmental laws and regulations imposed under the Environmental Codes in the jurisdictions in which it operates. The Group is currently engaged in exploration activities which are governed by conditions or recommendations imposed through the granting of a licence or permit to explore. Compliance with these laws and regulations is regarded as a minimum standard for the Group to achieve. There were no known breaches of any environmental laws or regulations during the year. Directors The Directors of the Company at any time during or since the end of the financial year were: Current directors: Mr Graham Ascough (appointed as Non-Executive Chairman 29 November 2013) Member of the Audit and Financial Risk Committee Experience and expertise Mr Ascough (BSc, PGeo, MAusIMM) is a senior resources executive with more than 30 years of industry experience evaluating mineral projects and resources in Australia and overseas. He is also currently non‑executive Chairman of ASX listed companies: PNX Metals Limited, Black Canyon Limited and Musgrave Minerals Limited. Mr Ascough, a geophysicist by training, has had broad industry involvement playing a leading role in setting the strategic direction for companies, completing financing and in implementing successful exploration programmes. He is a member of the Australasian Institute of Mining and Metallurgy and is a Professional Geoscientist of Ontario, Canada. Mr Ascough has served as a director of several companies listed on the Australian Securities Exchange in recent years. He was the Managing Director of Mithril Resources Ltd from October 2006 until June 2012. Prior to joining Mithril in 2006, he was the Australian Manager of Nickel and PGM Exploration at the major Canadian resources house, Falconbridge Limited, which was acquired by Xstrata Plc in 2006. Other directorships of listed companies in the past three years PNX Metals Limited (formerly Phoenix Copper Limited) (appointed 7 December 2012) Musgrave Minerals Limited (appointed 26 May 2010) Black Canyon Limited (appointed 25 August 2013; Company listed on ASX 5 May 2021) Mr Malcolm Norris (appointed as CEO & Managing Director 1 April 2014) Member of the Audit and Financial Risk Committee Experience and expertise Mr Norris (MSc, MAppFin, FAusIMM) is a senior mining industry professional with extensive experience in business management, mineral exploration, development of new business opportunities and asset transactions. His roles have covered a wide range of commodities, geographic locations and management of global portfolios of projects in both large and small organisations. Mr Norris holds an MSc in Geology and a Masters in Applied Finance. He has more than 35 years of industry experience including 23 years with WMC Resources, followed by roles with Intrepid Mines and SolGold. Other directorships of listed companies in the past three years Magmatic Resources Limited (appointed 20 December 2016; Ceased 3 February 2020) 17 Sunstone Metals Limited Annual Report 2022 SUNSTONE METALS LIMITED ANNUAL REPORT 2022
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