Annual Report 2005 - Pioneer Resources Limited

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PIONEER NICKEL LIMITED AND ITS CONTROLLED ENTITYIndependent Audit Reportto the Members of Pioneer Nickel LimitedScopeWe have audited the concise financial report of Pioneer Nickel Limited for the financial year ended 30 June 2005 as set out on pages pages34 to 43, in order to express an opinion on it to the members of the Company. The Company's directors are responsible for the concisefinancial report.Our audit has been conducted in accordance with Australian Auditing Standards to provide reasonable assurance whether the concisefinancial report is free of material misstatement. We have also performed an independent audit of the full financial report of Pioneer NickelLimited for the year ended 30 June 2005. Our audit report on the full financial report was signed on 23 September 2005 and was notsubject to any qualification.Our procedures in respect of the audit of the concise financial report included testing that the information in the concise financial report isconsistent with the full financial report, and examination on a test basis, of evidence supporting the amounts, discussion and analysis, andother disclosures which were not directly derived from the full financial report. These procedures have been undertaken to form an opinionwhether, in all material respects, the concise financial report is presented fairly in accordance with Accounting Standard AASB 1039"Concise Financial Reports".The audit opinion expressed in this report has been formed on the above basis.Audit OpinionIn our opinion, the concise financial report of the Company complies with Accounting Standard AASB 1039: Concise Financial Reports.BUTLER SETTINERIChartered AccountantsPAUL J CHABRELPartnerPerthDate: 23 September 2005Pioneer Nickel Annual Report 200544
Pioneer Nickel LimitedASX Additional InformationPursuant to the Listing Requirements of the Australian StockExchange Limited, the shareholder information set out below wasapplicable as at 22 September 2005.A. Distribution of Equity SecuritiesAnalysis of numbers of shareholders by size of holding:DistributionNumber of Shareholders1 – 1,000 681,001 – 5,000 1485,001 – 10,000 14210,001 – 100,000 498More than 100,000 72Totals 928There were 128 holders of less than a marketable parcel of ordinaryshares.B. Substantial ShareholdersAn extract of the Company’s Register of Substantial Shareholders(who hold 5% or more of the issued capital) is set out below.ISSUED ORDINARY SHARESNumber PercentageShareholder Name of Shares of SharesJubilee Investments NL 9,629,329 17.40%IJ Buchhorn and related entities 5,892,960 10.65%C. Twenty Largest ShareholdersThe names of the twenty largest holders of quoted shares are listedbelow:ISSUED ORDINARY SHARESNumber PercentageShareholder Name of Shares QuotedJubilee Investments NL 9,629,329 17.40%Kurana Pty Ltd 4,614,646 8.34%Link Traders (Aust) Pty Ltd 2,513,661 4.54%Grosvenor Pirie Management Ltd 1,830,749 3.31%ANZ Nominees Limited 1,461,669 2.64%MBM Corporation Pty Ltd 1,250,086 2.26%Sydney Fund Managers Limited 1,000,000 1.81%VHP Pty Limited 855,000 1.54%Mr John Samuel Williams 681,700 1.23%Custodial Services Limited 553,000 1.00%Mr Vitus Chan 550,000 0.99%Chaos Investments Pty Limited 541,653 0.98%Oregon Nominees Pty Ltd 471,503 0.85%Pruniers Corporation Pty Ltd 468,750 0.85%French Consulting Pty Ltd 425,000 0.77%Australian Executor Trustees 412,500 0.75%Hazurn Pty Ltd 400,000 0.72%Sheerwater Pty Ltd 400,000 0.72%Dolerite Investments Pty Ltd 351,669 0.64%Koltai Holdings Pty Ltd 322,663 0.58%28,733,578 51.92%D. Unquoted Equity SecuritiesSharesNumberEscrowShareholder Name of Shares Expiry DateKurana Pty Ltd 3,614,646 3 December 2005Kurana Pty Ltd 1,000,000 3 December 2005Ian James Buchhorn 285,654 3 December 2005Manorina Mining Pty Ltd 212,187 3 December 2005Pamela Jean Buchhorn 177,377 3 December 2005Jennifer Anne Crook 131,459 3 December 2005DJ Crook & JA Crook 131,166 3 December 2005Hazurn Pty Ltd 46,678 3 December 2005Hengolo Pty Ltd 30,262 3 December 2005Dr A Trench 7,256 3 December 2005Daphne Mina Buckhorn 6,418 3 December 2005Heron Resources Limited 846 3 December 20055,643,949Unlisted OptionsNumberEscrowOptionholder Name of Unlisted Options Expiry DateHeron Resources Limited– exercisable at 25 cents each 3,500,000 3 December 2005DJ Crook & JA Crook25 cents each – vesting period 24 months500,000 3 December 2005Jennifer Anne Crook25 cents each – vesting period 24 months500,000 3 December 2005Kurana Pty Ltd25 cents each – vesting period 24 months300,000 3 December 2005Dr A Trench25 cents each – vesting period 24 months300,000 3 December 2005E. Voting RightsIn accordance with the Company’s Constitution, voting rights inrespect of ordinary shares are on a show of hands whereby eachmember present in person or by proxy shall have one vote and upona poll each share shall have one vote.
Page 8: Project ReviewWattle Dam Project654
Page 11 and 12: REVERSE CIRCULATION AND DIAMOND DRI
Page 13 and 14: 100mDESMOND SHAFTFIG.7 RAVENSTHORPE
Page 15 and 16: OUTLOOKPioneer rates the outlook fo
Page 17 and 18: MAGGIE HAYS LAKE JOINT VENTURE PROJ
Page 19 and 20: TASMANIAHEAZLEWOOD AND WHYTE RIVER
Page 21 and 22: Summary of TenementsPROJECT PROSPEC
Page 23 and 24: PIONEER NICKEL LIMITED AND ITS CONT
Page 25 and 26: Corporate Governance Statement• i
Page 27 and 28: Corporate Governance Statement3.2 C
Page 31 and 32: Directors’ Report(iv) unlisted op
Page 33 and 34: Directors’ ReportThe level of fix
Page 43 and 44: Notes to the Concise Financial Repo
Page 45: PIONEER NICKEL LIMITED AND ITS CONT

Annual Report 2005 - Pioneer Resources Limited

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