Lowell Resources Funds Management Ltd has formed an investment committee to concentrate the experience and knowledge of a group of individuals who have direct experience in the oil & gas and minerals industries and/or broking, banking and funds management.

Cremorne Capital Ltd appointed Lowell Resources Funds Management Ltd as the investment Manager of the Fund and has entered into a contractual arrangement to that purpose dated 6 January 2004.

The members of the investment committee are:

Stephen Peter Mitchell (Director)
Mr Mitchell has over 30 years’ experience in the international resources sector with roles in senior management, funds management, corporate advisory and investment banking. Mr Mitchell is currently Chairman of Lowell Resources Funds Management and its Investment Committee, and is a Director of Growth Farms, Afton Energy and Hydrocarbon Dynamics Limited. He was previously Managing Director of Molopo Energy Limited, an ASX listed energy company which he grew from a micro-cap stock into an ASX 200 company, with projects in Australia, Canada, the US, Asia and Africa. Mr Mitchell completed a Master of Arts in International Economics and Politics at Johns Hopkins University in the US.

John Arthur Forwood (Director and Chief Investment Officer)
Mr Forwood is a qualified lawyer and geologist. He has over 25 years of resources financing experience, including 8 years as CIO of the Investment Manager and 17 years with RMB Resources, including 13 years as a manager of the Telluride Fund. At RMB Resources, he acted as a principal financier of equity, structured quasi-equity and project finance to the junior resources sector. Mr Forwood also has 5 years’ experience in exploration and development geology in Australia, Tanzania and Indonesia. Previously, he qualified with a major Australian law firm to practice as a barrister and solicitor.

Richard Damon Morrow (Director)
Mr Morrow is an experienced stockbroker with Ord Minnett group and is a member of the steering committee of the Melbourne Mining Club, Australia’s leading networking organisation for the resources sector. He has more than 35 years’ experience as a sharebroker in Melbourne and in London, with a particular interest in the resources space. Mr Morrow is a Master Stockbroker with the Stockbrokers and Financial Advisers Association (MSAFAA) and has passed the industry-wide FASEA exam. He is non-executive director of global tungsten producer EQ Resources, listed on the ASX and a Fellow of the Australasian Institute of Mining and Metallurgy.