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Directors

Ivan Murphy – Non-Executive Chairman

Ivan has 15 years' experience working in capital markets. He began his career at Aberdeen Asset Management PLC, working in London, Miami and Singapore before returning to Ireland to become Managing Director of Aberdeen Asset Management Ireland Limited. In 2003 he left Aberdeen to work as a consultant to a number of Irish and UK public companies assisting them in the disposal of asset management and life insurance assets. In 2005 he was part of the founding team of Fairfax investment bank, where he focussed on business origination in Asia. After leaving Fairfax in 2008, he became a consultant to property developer Shelbourne Development Limited negotiating with potential partners in China and the Middle East on the financing and construction of the Chicago Spire project. Ivan was formerly a director of Cove Energy plc and is a senior executive with Gazprombank-Invest. He has a degree in Economics from University College Cork, Ireland.

Bernie Pryor – Chief Executive Officer

Bernie Pryor has worked in the international mining industry in senior executive roles in company management, project acquisition and development, and construction and mine operations for the last 30 years. Mr Pryor has worked in Australia, Russia, Brazil, the Middle East and West and Southern Africa and has held a number of significant operational and management roles. These include Head of Business Development at Anglo American Plc where he led the negotiation teams for the $1.7bn acquisition of 49% of the Minas Rio project in Brazil and subsequently, the acquisition of the other 51% of Minas Rio and 70% of the Amapa project in Brazil for $5.5bn. Mr Pryor subsequently became Chief Executive Officer of Anglo Ferrous Brazil where he managed the newly commissioned $600m Amapa iron ore project, and the project design and construction of the $3.6bn Minas Rio project. His previous positions include senior management positions with Adastra Minerals Inc, Minproc Engineers Ltd and Western Pinnacle Mining Ltd.

Dr Michael Price – Senior Independent Non-Executive Director

Michael Price has arranged, structured and advised on mining related projects around the world having spent 13 years at NM Rothschild & Sons Ltd in various positions including Head of Mining Finance and Metals Trading, two years as Global Head of Mining and Metals at Societe Generale in London, and between 2003 and 2006 as Joint Global Head of Mining and Metals at Barclays Capital. Michael has more than 30 years experience in mining and mining finance and extensive board experience, having been a Non-Executive Director of AIM quoted EMED Mining, Monterrico Metals Ltd, Crew Gold Corporation (Canada) and Tertiary Minerals.

Paul Richards – Non-Executive Director

Paul qualified as a Solicitor in 1987 and worked for Theodore Goddard specialising in corporate and insolvency law. In 1996 he joined the corporate finance department of Hoare Govett before moving to Collins Stewart in 1999. In 2005 he was part of the founding team of Fairfax investment bank. Paul has extensive corporate finance experience having led over 75 IPOs and secondary fundraisings. Paul has also been involved in over 20 public takeovers acting for both the bidder and the target. He has been involved in a wide range of sectors but has particular expertise in property, financials, renewables and investment funds. Paul is a partner of Core Capital LLP, a boutique private equity firm. Paul is the Chairman of the audit committee.

Stephen Folland – Non-Executive Director

Stephen has 20 years experience at senior levels in the administration and compliance of investment vehicles in Europe, the United Kingdom and the Channel Islands. Stephen has been an independent non-executive director to a number of Jersey-based companies since January 2008 and he also acts as a company secretarial consultant to offshore companies. Stephen was a vice president of a private Swiss bank between 2005 and 2007 and a senior manager and latterly a divisional director at Aberdeen Asset Management PLC, responsible for the company secretariat of listed clients from 1996 to 2005. Stephen is a fellow of the Chartered Institute of Secretaries. Stephen is a member of the audit committee.

Philippe Cohen – Non-Executive Director

Philippe Cohen has 30 years of experience in the energy, metals and commodity related banking and trading business. A former banker with Banque Paribas, where he spent 11 years, he was then a structured finance specialist with trading major, Vitol S.A. He is currently an independent advisor and has been an associate in a number of oil and gas and mining companies, sourcing and structuring transactions as well as commodity trading opportunities. He advises a number of oil and gas companies on finance and stock-listing strategy and is currently Chief Financial Officer of African Excellence Investments Ltd, which specialises in investments in West Africa with a focus on oil and gas in Nigeria. He has also been active in fundraising and bringing junior resources companies to the AIM market, as well as the acquiring of a large metallurgical company for private investors. He has developed great geographical expertise in West Africa, Eastern Europe and Indonesia, as well as the USA and South America. Philippe obtained a diploma from the ESCP, Ecole Superieure de Commerce de Paris, in 1978 and is fluent in French, Spanish, English, Portuguese and Italian.