2001 Annual Report
  Admin Report
  Admin Declaration
  Independent Audit
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2001 Pasminco Annual Report

Consequent upon the collapse of metal prices, the adverse impact of a weakening Australian dollar on the Company’s currency hedging position, a difficult cash position and as a result of the failure to secure appropriate financial accommodation from its financiers by way of a Standstill Agreement, on 19 September 2001 the Company and all wholly owned Australian subsidiaries, except Pasminco Superannuation Pty Limited, were placed into Voluntary Administration. In accordance with the Corporations Act 2001, upon commencement of the Administration all powers of the Directors and officers of the Company were suspended and the Administrators assumed control of the Group, its business and assets. As from 19 September 2001, the Directors and officers have only performed functions or exercised powers with the written approval of the Administrators.

Accordingly, all references in this Administrators’ Report and the financial statements to activities of the Group or decisions affecting its business or assets after 19 September 2001 should be to such activities of the Group while in administration or decisions of the Administrators.

The financial statements on which this Administrators’ Report and Administrators’ Declaration have been prepared are on the basis of conditions existing at 30 June 2001. In accordance with the requirements of accounting standards the financial statements reflect the financial effects of events occurring after reporting date, and up to the date of this report. As a result of events occurring after reporting date, the audited financial statements differ from the unaudited Preliminary Final Report released to the Australian Stock Exchange on 13 September 2001, which appropriately reflected the information available at that time, on the position of the Group at 30 June 2001. In particular these financial statements have not been prepared on a going concern basis.

The 2001 Annual Report released on 30 August 2002, is downloadable in pdf format.

- 2001 Pasminco Annual Report indexable pdf (244 Kb)

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