Climate Change Data

Environmental Metrics

Governance Achievements

• Implemented an Anti-Bribery policy in compliance with the UK Bribery Act.

Climate Goals & Targets

Environmental Challenges

• Ongoing permitting delays and legislative changes in India regarding the Bhukia project.
• Mineral exploration inherent risks and uncertainties.
• Political, economic, and other uncertainties in foreign jurisdictions.
• Availability of adequate funding.
• Fluctuations in foreign exchange rates.

Mitigation Strategies

• Secured US$13.6 million in arbitration financing to pursue a claim against the Republic of India.
• Building and maintaining a portfolio of projects at various stages of development.
• Employing highly experienced personnel.
• Maintaining good relationships with governments.
• Tight budgetary and financial controls.
• Partnering with third parties in exploration joint ventures.
• Minimising funds held overseas and centralising treasury matters in the UK.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: QCA Code

Third-party Assurance: PKF Littlejohn LLP

Environmental Metrics

Social Achievements

• Aims to attract, develop and retain talented people and to create a diverse and inclusive working environment

Governance Achievements

• Adopted the QCA Corporate Governance Code
• Implemented an Anti-Bribery policy

Climate Goals & Targets

Environmental Challenges

• Ongoing permitting delays and legislative changes by the GoI resulted in no exploration activity at Bhukia Project in 2023-24.
• Dilution impact to shareholders from further investment in its West African gold business.
• Ongoing arbitration against India with potential legal and other costs and potential reputational harm.
• Operations located in foreign jurisdictions subject to political, economic and other uncertainties.
• Availability of adequate funding and fluctuations in foreign exchange rates.

Mitigation Strategies

• Secured US$13.6 million in arbitration financing from Litigation Capital Management.
• Actively seeking to restructure its West African activities.
• Building and maintaining a portfolio of projects at various stages of development, employing highly experienced personnel, and maintaining good relationships with governments.
• Conducting operations in countries with established mining codes and adhering to local laws.
• Maintaining tight budgetary and financial controls, dealing with high-quality banks, and maximizing the use of interest-bearing deposit accounts.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: QCA Corporate Governance Code