Ann: Change of Director's Interest Notice, page-13

Should be significant cuts on the horizon.

Trim the board.
2 directors up for re-election on rotation. I believe that one is the Chairman, Mike Harding.
He is the highest paid, and I'll be voting No.
Whilst, I believe that PNG exit was more likely than not the best way forward, I believe that the exit was poorly handled.
Specifically, I suspect that too much emphasis was put on "making the problem go away" rather than "maximising shareholder value".
Clearly I can't be certain, but that's what it felt like to me.
Gerrit de Nys is the other director up for reelection: he has been on the board a long time and is one of two IMC representatives - and that isn't justified. So (unfortunately) Gerrit will more than likely retire.

Both directors up for re-election should go in order to reduce costs
Given the reduced scope of company activities (ex PNG; no asset search; no major projects post 12-8-E), director fees could be reduced slightly as well.
,

Board composition: Start from Scratch (wishful thinking, but...)

I'd like to see Bruce Clement (Independent Chairman); Nigel Burgess (Samuel Terry-non-Independent); one other independent; CEO does not have to be on the board. Or something along these lines.

Trim Company Overheads Further

I believe that HZN could function perfectly well with 1 less KMP, i.e., the CEO and CFO roles could be combined (perhaps supported by a lower paid 2IC-CFO). This could result in significant savings with minimal impact on the effective functioning of HZN.
Assuming that the search for acquisition is (significantly) curtailed (which it should be), there should be additional significant saving at Head Office (e.g., no need for the mob searching for, and reviewing acquisitions).