Board of Directors

Richard Stuart / Non-Executive Chairman

Richard Stuart has over 17 years' experience in corporate finance. He is currently the Chairman of both Strata and Tete Holdings. He was a partner in Martin & Co from 1978 and is a former Joint Senior Partner of Fleming-Martin which was established in 1994, and was one of South Africa’s leading brokerage firms. He played a key role in raising international equity capital for South African companies in the post-sanction era and in the relocation of Gencor (as Billiton plc) and The South African Breweries Ltd onto the London Stock Exchange.

Graham Mascall / Chief Executive Officer

Graham Mascall has over 35 years of commercial, financial, and transaction experience in mergers and acquisitions, business development and project management in mining and mining finance. Over the course of his career, he has worked as a senior executive for a number of companies in the mining and mine finance sector. He has worked in senior positions for Billiton plc, the post-merger entity BHP Billiton plc, Deutsche Morgan Grenfell, Outokumpu Metals and Resources International Ltd, Barclays Bank, and was Chief Executive Officer of International Molybdenum Ltd and Lubel Coal Company (UK) Ltd. Whilst at Billiton plc, as Chief Executive for M&A, Base Metals and New Business, in 2000 he led the US$2.1 billion acquisition of Rio Algom Ltd. Mr Mascall is a graduate in mining engineering from the Camborne School of Mines and holds a Master of Engineering in Mineral Economics from McGill University. He is currently also a director of AIM-listed Gemfields Resources plc and London Mining plc.

Estevão Pale / Non-Executive Director

Estêvão Pale has 27 years' experience in the mining industry. He is the Chief Executive Officer of Companhia Mocambicana de Hidrocarbonetos, S.A., a Mozambican natural gas company, where he negotiates sales agreements for natural gas and condensate as well as dealing with junior and senior lenders of the company. Between 1996 and 2005, he was the National Director of Mines in the Ministry of Mineral Resources and Energy, where he was responsible for the supervision and control of mineral activities in Mozambique and the formulation and implementation of the mining and geological policy approved by the government of Mozambique. Mr Pale has been a director of numerous companies in the mining sector including Promaco SARL and the Mining Development Company, as well as the General Director and Chief Executive of Minas Gerais de Moçambique. He has also conducted several consultancies for international organisations. Mr Pale has a postgraduate diploma in Mining Engineering from the Camborne School of Mines in Cornwall and a Masters degree in Financial Economics from the University of London (SOAS). He completed a course in Gas Business Management in Boston at the Institute of Human Resources Development corporation in 2006.

Nigel Sutherland / Non-Executive Director

Nigel Sutherland has spent over 34 years working in the resource sector, of which the last nine years he has worked as a consultant and in Business Development for Partners in Performance International ('PIP'). During this period, he has delivered improvement results on a large underground coal mine, an aluminium smelter, a zinc smelter and a direct reduction iron plant. Nigel also has managed 20 site diagnostics across a number of different resource industries including coal mines in North America, Kazakhstan, Czech Republic, South Africa and Australia in order to identify improvement opportunities to increase production, reduce costs and improve operational efficiencies. Nigel is a principal of PIP and is currently responsible for growing PIP’s North American and African business. Prior to joining PIP, he gained wide experience in corporate, commercial, risk management and strategic planning through his roles at Anglo American plc, in merchant banking and in management consulting. He has worked in Namibia, South Africa and Australia. Mr Sutherland has an MBA from the University of Cape Town and a Bachelor of Engineering (Metallurgy) from the University of Witwatersrand.

Colin Harris / Non-Executive Director

Colin Harris has been working as an exploration geologist for over 40 years, and has a wealth of experience in the generation, exploration and evaluation of projects covering a variety of commodities and deposit styles. He has experience in over 25 countries, mainly in Africa and Europe, and has worked for major international mining companies including Anglo American plc, Cominco and Rio Tinto plc. During his time at Rio Tinto plc, which was between 1990 to 2008, Mr Harris managed multi-million dollar world-class projects including the Simandou iron ore project in Guinea, which he and his team took from grass roots to preliminary feasibility study before handing over to Rio Tinto Iron Ore Group. For the past 18 months, Mr Harris has been leading the Zanaga Iron Ore Project in Congo Brazzaville as both the Directeur Général of Mining Project Development Congo SAU (MPD), the local holding company, and Technical Director of Jumelles Technical Services (UK) Ltd, who render technical services to MPD. He has a BSc in Geology from Rhodes University (South Africa).

Mark Trevan / Non-Executive Director

Mark Trevan has over 30 years' experience in the mining and metals sector. He is currently the Managing Director of Caledon Resources Plc, and is responsible for the Caledon Group’s Australian operations. Prior to joining Caledon in September 2006, he spent 25 years with Rio Tinto Ltd where he held senior executive roles in the areas of coal marketing, general commercial, corporate strategy and project feasibility. He joined Rio Tinto’s Queensland coal subsidiary in 1997 as General Manager of Marketing, and through various corporate reorganisations also became responsible for the marketing of Rio Tinto’s Coal and Allied subsidiary and its Indonesian coal operations. During his time as General Manager of Marketing, Rio Tinto opened two coking coal mines and is now a significant participant in the internationally-traded metallurgical coal market, in addition to its substantial presence in the thermal coal market. Mr Trevan is a graduate in Applied Finance and Investment from the Securities Institute of Australia and holds a Diploma of Business (Accounting) from the Preston Institute of Technology.