The Board is responsible for creating value for shareholders, determining strategy, investment and acquisition policy, approving significant items of expenditure and consideration of significant financing and legal matters. The company is controlled by a Board consisting of a Chairman, a Director and a Non-Executive Director

Audit Committee

The Audit Committee is responsible for making recommendations to the Board on the appointment of auditors and the audit fee; for ensuring that the financial performance of the Company is properly monitored and reported on; and it receives and reviews reports from management and the auditors relating to the interim report, the annual report and accounts and the internal control systems of the Company.

The Audit Committee currently comprises C Kyriakou (Chairman) and R Shakesby (Non-Executive Director).

Remuneration Committee

The Remuneration Committee is responsible for the review and recommendation of the scale and structure of remuneration for key management personnel, including any bonus arrangements or the award of share options.

The Remuneration Committee currently comprises C Kyriakou (Chairman) and R Shakesby (Non-Executive Director).

Chrisilios Kyriakou (Chairman)

Chrisilios ("Chris") Kyriakou qualified as a lawyer in 1973 from Sydney University. He is Chairman of Natasa Mining Ltd, one of the Company’s major shareholders. Since the late 1970's he has been continuously involved in the mining industry and has extensive experience in a number of countries around the world. He has been an executive director of a number of mining companies such as Giant Yellowknife Mines, Pamour Mines, West Witwatersrand Gold Holdings, Bow River Diamonds and Minera Roca Roja.

Roger Shakesby

Roger Shakesby holds a BSc in Geology and Geography from Durham University and began his career as a geologist working in Australia and the Philippines. In 1971 he joined Gold Fields, where he was involved and eventually managed the exploration programme for Australia, Philippines, Indonesia and Papua New Guinea. In 1982 he was appointed the general manager for Exploration for Renison Goldfields Consolidated. Under his tenure this company expanded its portfolio with the discovery of several precious metals and base metals deposits. In 1992 he was appointed as a member of the executive committee at Renison Goldfields Consolidated. In 1994 he joined Walhalla Mining Company as a technical director. Since 1998 he has been a consulting economic geologist, working in Australia, Russia, Chile and the Philippines.

Jonathan Reynolds (Director)

Mr Jonathan Reynolds has been the Company’s Chief Financial Officer since 2005 and is presently Finance Director of Natasa Mining Ltd, one of the Company’s major shareholders. Prior to that he held the position of chief financial officer with a number of other listed entities and before that was a senior manager with an international firm of chartered accountants. He is a member of the Institute of Chartered Accountants in Australia, a fellow of the Financial Services Institute of Australasia and holds a Bachelor of Commerce (Honours) degree.