The Board of Directors:
The Board of Directors is currently composed of three members; one Executive Director and two Non-executive Directors, including the chairman Michael Masterman. Each of the Directors has a wealth of minerals exploration and development experience. The structure of the Board ensures that no one individual or group dominates the decision-makng process.
The Audit Commettee:
The Audit Committee, intends to meet no less than twice a year and considers the Group’s financial reporting (including account policies) and internal financial controls. The Audit Commettee will be responsible for ensuring that the financial performance of the Group is properly monitored and reported on. The Committee intends receive reports from management and external auditors as required.
The Remuneration Committee:
The Remuneration Committee comprising the Non-executive Directors, meets at leat once a year and is responsible for making recommendations to the Board of Directors, on senior executives remuneration. Non-executive Directors’ remuneration and conditions of engagement are considered and agreed by the Board. Financial packages for Executive Directors are established by reference to prevailing market conditions and performance of each executive director.
Michael Masterman
Executive Chairman
Michael has a strong track record in establishing and building new resources companies and in raising project finance, having spent 9 years at McKinsey and Company serving major international resources companies principally in the area of strategy and development. In 1996 joined Anaconda Nickel, now Minara Resources as Executive Director and Chief Financial Officer. Michael and the rest of the executive team were responsible for transforming Anaconda into a major nickel producer with the (US)$1 billion Murrin Murrin project in Western Australia. In 2002 he joined Northsun Italia S.p.a and related companies were listed on the ASX as Po Valley Energy Ltd of which he is currently the Deputy Chairman and a major shareholder. Michael resigned as CEO from PVE in October 2010 to take on an Executive role with Fortescue Metals Group Limited as General Manager Magnetite based in the Asia region.
Michael Garland
Non-Executive Director
Michael held the position of Commercial Manger for Tullow Oil Plc and Commercial Director at Star Energy group before becoming a Director of Caspian Holdings. At Wood Gundy Inc. Michael was involved in the early UK Government privatisations and set up the Australian desk to market the bank’s products to Australian companies. When Wood Gundy Inc. was acquired by the Canadian Imperial bank of Commerce he was involved in many aspects of the European and North American capital markets but primarily with marketing of the bank’s capital market products to government and semi-government organisations within Europe. A co-founder of Dominion Petroleum Limited, Michael held the position of Chief Executive Officer within the company until 2008 before taking the role of Chief Executive Officer of Atacama Metals Group, which is developing a large copper/gold/silver mine in the Atacama desert in Chile.
Byron Pirola
Non-Executive Director
Director of Port Jackson Partners Limited, a Sydney based strategy management consulting firm. Prior to joining Port Jackson Partners in 1992, Byron spent six years with McKinsey & Company working out of the Sydney, New York and London Offices and across the Asian Region. He has extensive experience in advising CEOs and boards of both large public and small developing companies across a wide range of industries and geographies. Byron is a Non-Executive Director of Po Valley Energy Limited.
