Reminder: Tonight's 2 May Membership Night, AGM and Talk.

Included in this email: AGM Minutes 2018 Heritage, BG 88 Endowment, Investments.

BICENTENNIAL GOLD 88 ENDOWMENT
 
Report for the Year 2018
 
This Endowment was established with surplus funds derived from a successful gold conference in order to provide funds for the advancement of education and research in Earth Sciences for the benefit of Economic Geology in Australia.    
 
In 2018, 6 applications were received for awards in 2019, one more than in 2017.  All were for support for aspects of Ph.D. projects at universities in Victoria, ACT and Queensland.
 
These were highly motivated applicants as shown by their impressive qualifications, honours, skills and their commitment to geology, all of which was also reflected in the relevance and high quality of their submissions.
 
Total funding requested amounted to $30,554 as against an available sum of $5,000.
 
There was one stand-out application for support in 2019 from a researcher at:

 
Support for advanced Ph.D. candidate, Michael Anenburg towards analyses and characterisation of recently discovered sulphides at the Nolans Bore rare earth deposit currently in advanced development stages and to compare the results to known carbonatite-hosted sulphide deposits. Positive results could upgrade the value of the deposit and diversify the range of commodities produced, possibly establish a link of the Nolans Bore sulphides and carbonatites and could motivate further exploration and investigations in the Nolans Bore area.
 
 
This Endowment received some promotional benefits when 2018 award recipients Christopher Voisey and Ms Casey Blundell presented the results of their research to date at the VUEES Conference at Monash University in November.
 
This Endowment has now been in existence for some 30 years. Over this time, individuals and groups totalling some 200 recipients have benefited directly or indirectly from the annual distributions made. However, due to depletion of funds and a number of other factors, it is unlikely that this Endowment will continue beyond 2020.
 
Prof. Chris Wilson and Ms. Ingrid Campbell, GSA (Vic Div), are again thanked for their contribution to the assessment process, as is the AusIMM Secretarial Support Team for its administrative back-up and the Endowment Trustees for their on-going support.  
 
 
 
 
GERHARD K. KRUMMEI
Chairman – Working Group
BG88 Endowment                                                                                             08.02.2019
 

GSA(V) Annual Report on Geological Heritage
 
Geological Heritage subcommittee
Karen Kapteinis Chair
The Geological Heritage subcommittee has seen a changeover of the Chair position over the last year, with Susan White stepping down from Chair after a substantial number of years leading the subcommittee. Her leadership and hard work in shaping the subcommittee, and geological heritage in Victoria, will be valued. Susan has remained on the subcommittee to assist with the handover to Karen Kapteinis given her extensive experience.
Unfortunately, as with previous years, the subcommittee has struggled somewhat over the past year mainly due to lack of time for committee members to work on geological heritage matters. However we have continued to work towards better understanding of geological heritage in the state, with the database of sites of geological and geomorphological significance continuing to be maintained, with a number of sites still to be added to a list of 2,000 sites (and growing!).
We were approached regarding being involved in setting up a geo-tourism and geological heritage working group, with an aim to develop GSA-branded Geotrails, and are still in discussions with the Federal Division regarding this. If others are interested this is something the Federal Geotourism Standing Committee would like to see happen, with details still being ironed out.
The subcommittee continues to maintain relationships with similar, non-GSA committees, including with Council Trench in Bacchus Marsh, where Susan White is a member on the management committee, and with the Koonwarra Rail Trail committee of management, on which Gary Wallis is our representative, of which is being consulted by VicRoads as part of the highway widening near the Koonwarra Fish Beds. We have also had some communication with the Landscape Committee of the National Trust in order to re-establish contact for any future collaboration.
As in the past, the committee has given advice to consultants and people wishing to object to particular development projects, although this has decreased in the past year. The major consultation was in relation to the VEAC Central-West Investigation, and some discussions have also been held with the GSV.
The Harmon Valley flow has been saved from further rock crushing, with the Southern Grampians Shire planning amendment having been signed off in October 2018. This amendment puts into place a permanent Significant Landscape Overlay (SLO) on the geologically significant basalt flow.
I wish to thank the members of the subcommittee for their work throughout the year.
Karen Kapteinis
Geo-Heritage Convener

Investment Summary

Since reporting last year the investment portfolio has increased in value to $595,312.59 (23/4/2019 valuation) a rise of 9.09% over the preceding 12 months.  This is a solid return in part due to companies disposing of excess franking credits prior to the Federal election in case Labour wins.  As an example we are currently taking part in the Woolworths buy back which has an anticipated gain of 16%.  The consequence of these strategies by companies is that the GSAV will get a larger than usual cash return form the ATO for imputation credits.  We currently have cash reserves of $21K but the market appears to be fully valued and so we are holding this until it is clearer how best to invest it.  The investment committee is happy with the advice we are getting from Evans and Partners.  We have an annual briefing to review the investments and determine how we might proceed in the next 12 months.
 
Note in January we drew down §13K from the investment fund to support the two new postgraduate fellowships.

David Cantrill and David Moore