Directors

Simon Village was formerly a Managing Director, World Gold Council, and principal of Exchange Traded Gold, a company responsible for developing and managing a series of direct physical gold investment products that have revolutionised the dynamics of the gold industry. Previous to this he was a Managing Director with HSBC responsible for Global Mining based out of London, and also Head of HSBC's South African Securities business. Simon holds a B.Eng (Hons) degree from Camborne School of Mines and brings some 20 years of gold industry and investment experience to the Company. He is also Chairman and CEO of Banro Corporation, Chairman of Delrand Resources Limited, and a Non-Executive Director of Loncor Resources Inc.

Peter Ruxton was a Partner with Actis LLP responsible for all investment in the mining sector in Emerging Markets for the Fund. Prior to that he was Exploration Manager for mid-tier gold producer Ross Mining and involved in the evaluation and feasibility study of the Gold Ridge Gold Mine in the Solomon Islands. Peter also had 11 years experience with Billiton Australia as Regional Exploration Manager and Geologist. His Ph.D. studies were on sedimentary copper deposits in Namibia; he spent a further 18 months as a Post-Doctoral Research Fellow at the University of Tasmania, Australia researching VMS base metal and copper deposits. He has a B.Sc. in Geological Sciences, a Ph.D. from the University of Leeds and an MBA from Manchester Business School. Peter is also a Non-Executive Director of Platmin Ltd.

Arnold Kondrat has been involved in corporate finance activities for over 20 years. He is also President and Managing Director of Sterling Portfolio Securities Inc., a private venture capital firm based in Toronto. Arnold is a Founding Director of Banro Corporation Inc., Delrand Resources Limited. and Loncor Resources Inc.

Rudolph de Bruin is a mining venture capitalist having founded and developed several mineral exploration companies in the past fifteen years. Rudolph, with David Twist, founded Platmin Ltd., which has grown from a private South African Platinum Group Metals (PGM) company to a significant PGM producer today. The partnership also founded Sephaku Holdings, Taung Gold, African Nickel and African Precious Minerals Ltd. Rudolph is a lawyer by training, holding a B.Com. degree from the University of Orange Free State and LL.B from Rand Afrikaans University. He is a Director of Sephaku Holdings Ltd., Taung Gold Ltd., African Nickel Ltd. APM Ltd. and APM Mining Ltd.

David Twist is a mining venture capitalist having founded and developed several mineral exploration companies in the past fifteen years. In partnership with Rudolph de Bruin, David co-founded Platmin Ltd., Sephaku Holdings, Taung Gold, African Nickel and African Precious Minerals Ltd. David is a geologist with a B.Sc. from Reading University and Ph.D. from Newcastle-Upon-Tyne in the UK. He is a Director of Sephaku Holdings Ltd., Taung Gold Ltd., African Nickel Ltd. APM Ltd. and APM Mining Ltd.