Wayne Apted

Chief Financial Officer & Company Secretary at Cyprium Metals
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Location
Watermans Bay, Western Australia, Australia, AU

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Experience

    • Australia
    • Executive Offices
    • Chief Financial Officer & Company Secretary
      • Mar 2019 - Present

    • United Kingdom
    • Outsourcing and Offshoring Consulting
    • Chief Financial Officer
      • Jun 2016 - Jun 2018

      The Group had a market capitalisation of $175 million, sales revenue of $210 million and 600 employees. It is the operator of the Wetar Copper Project in Indonesia with a production capacity of 28,000 tonnes copper cathode per annum and a cash operating cost of US$1.05 per pound. Key achievements: • Active management of working capital, resulting in committed debt principal repayments of US$30 million despite a 35% reduction in copper production to 8,439 tonnes for the 6 months to 31 March 2018, which was praised by the non-independent Director during a hostile takeover • Renegotiation of finance facility terms with bank syndicate to defer US$9 million of repayments whilst the operations team addressed complex technical issues to enable a return to nameplate production capacity • Developed multiple copper cathode sales transaction alternatives, bringing forward the cash collection cycle, providing improved cash flow management flexibility whilst enabling all financial commitments to be met Other responsibilities include: • Commenced a copper hedging programme, realising proceeds of more than US$1 million in Q1 2018 • Managed the independent valuation process and report for the takeover defence Target Statement • Implemented Pronto Enterprise Resource Planning (ERP) system in a condensed timeframe • Co-managed relationship and reporting obligations with the significate Asian investor Group • Negotiated settlements of legacy disputes with suppliers from the construction phase • Group taxation management and implemented risk mitigation strategies for the collection focused regulator • Reinstated accurate and reliable financial reporting • Direct reports of 7 and management of 20 finance personnel

    • United States
    • Chief Financial Officer
      • Sep 2014 - Jun 2016

      The Group had a market capitalisation of US$600 million, sales revenue of US$225 million and 1,400 employees. It’s US$ 1 billion Nui Phao polymetallic operation in Vietnam is the world’s largest tungsten mine with 1/3rd of Ex-China production, a 20-year mine life and positioned in the lowest unit cost quartile. Key achievements: • Key member of Initial Public Offering (IPO) and raised more than US$500 million of debt financing • Overhauled the financial reporting, budgeting, forecasting variance analysis processes which then served as the principal Board, Executive committee and shareholders reporting package • Successfully delivered financial action plans and cost saving initiatives worth more than US$50 million Other responsibilities include: • Worked closely with marketing and operational management teams, ensuring financial targets were met • Implemented improvements to the SAP ERP system across various departments to improve system utilisation, efficiencies and reporting capabilities • Resolved many long outstanding issues and improved relationship with the external auditors • Developed appropriate mining industry reporting practices with the Vietnamese regulators • Ensured compliance with taxation obligations, reducing exposure to significant assessments from audits • Provided strategic and financial guidance to Board, Executive committee, joint venture (JV) and shareholders • Financial direction and support to the JV during a period of fractious relations amongst the owners • Direct reports of 8 and management of 25 finance personnel

    • Finance Director
      • Jan 2002 - Aug 2014

      Xstrata was a leading global diversified mining Group with a market capitalisation of US$56 billion, sales revenue of US$34 billion and 40,000 employees. It was established with a decentralised structure to streamline processes, providing accountability at all levels whilst focused on growth, delivering industry leading FTSE 100 returns. Key achievements: • Key member of several multi-billion dollar acquisitions and financial integration teams to ensures changes to culture, operating practices and reporting were swiftly implemented following transaction completion • Preparation of prospectuses and circulars for IPO, equity issues and various debt financing instruments • Established the DIFC’s and Group’s largest finance company with equity of US$25 billion and US$4 billion of borrowings in order to optimise the organisational structure and management of Group cash flows Other responsibilities include: • Groupwide IFRS accounting policies, external audit and reporting to audit committee • All financial information in the Annual Report, winning prestigious FSTE listed company awards such as UK Business Finance most effective and best Annual Report and accounts in 2012. The financial statements were also regularly used as best practice examples by the ‘Big-4’ accounting firms detailed technical guides • Group tax reporting, cumulating with a prestigious PWC award for FTSE listed companies • Preparation of market analyst bi-annual financial results presentations • Administration of the extensive Group incentive share award schemes and treasury shareholdings • Established the primary management reports and budget process for the Group Executive committee • Part of the senior executive team to grow and develop the Group whilst maintaining best practice standards • Recognised as one of the most critical 72 executives of the worldwide Xstrata Group • Responsible for 3 direct reports and management of 40 finance personnel globally

    • Canada
    • Mining
    • Finance Manager
      • Nov 2000 - Dec 2001

      Australia’s largest listed gold producer at 2.3 million ounces per year, sales revenue of $1.5 billion and 3,000 employees until it was acquired by Newmont Mining Corporation in 2002 for $4.9 billion. Notable achievements and responsibilities include: • Completed commercial ERP systems, risk management and taxation reviews • Developed an annual budgeting and planning processes • Actively involved in Human Resources policies, procedures and recruitment Australia’s largest listed gold producer at 2.3 million ounces per year, sales revenue of $1.5 billion and 3,000 employees until it was acquired by Newmont Mining Corporation in 2002 for $4.9 billion. Notable achievements and responsibilities include: • Completed commercial ERP systems, risk management and taxation reviews • Developed an annual budgeting and planning processes • Actively involved in Human Resources policies, procedures and recruitment

    • Finance Manager
      • Jul 1997 - Oct 2000

      A medium sized gold producer listed on the Australian stock exchange with a market capitalisation of $75 million, sales revenue of $100 million and 500 employees. Notable achievements and responsibilities include: • Restructured the finance function, improving processes, organisational structure, system integration and internal controls whilst reducing reporting timelines and resolving all historical audit issues • Reduced the outstanding VAT receivable collection cycle from 48 months to 3 months • Prepared the life-of-mine plan and financial models for the development projects in Indonesia

    • Finance Manager
      • Jan 1995 - Jul 1997

      Australia’s largest listed gold producer at 2.3 million ounces, sales revenue of $1.5 billion and 3,000 employees. Notable achievements and responsibilities include: • Financial management of the Australian listed Gold Mines of Kalgoorlie Limited • Managed the corporate restructure for Gold Mines of Kalgoorlie Limited • Developed the KPI and budget reporting for Gold Mines of Kalgoorlie Limited Australia’s largest listed gold producer at 2.3 million ounces, sales revenue of $1.5 billion and 3,000 employees. Notable achievements and responsibilities include: • Financial management of the Australian listed Gold Mines of Kalgoorlie Limited • Managed the corporate restructure for Gold Mines of Kalgoorlie Limited • Developed the KPI and budget reporting for Gold Mines of Kalgoorlie Limited

    • Australia
    • Accounting
    • 500 - 600 Employee
    • Tax advisor
      • Jan 1989 - Dec 1994

      Mid-tier Australia wide business and taxation advisory firm with more than 50 employees in Perth. Notable achievements and responsibilities include: • Providing hands on assistance for several clients who had experienced financial difficulties • Taxation planning and optimisation for small businesses • Corporate secretarial services for numerous small companies Mid-tier Australia wide business and taxation advisory firm with more than 50 employees in Perth. Notable achievements and responsibilities include: • Providing hands on assistance for several clients who had experienced financial difficulties • Taxation planning and optimisation for small businesses • Corporate secretarial services for numerous small companies

Education

  • Institute of Chartered Accountants in Australia
    Chartered Accountant, Accounting and Finance
    1990 - 1991
  • Curtin University
    Bachelor of Commerce (B.Com.), Accounting and Finance
    1986 - 1988
  • Hale School
    High School Certificate
    1975 - 1985

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