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United States

Magnetite Mines Ltd (MGT.AX)

MGT.AX on Australia Stock Exchange

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22 Sep 2017
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Summary

Name Age Since Current Position

Gordon Toll

2014 Executive Chairman of the Board

Gavin England

2015 General Manager - Exploration and Development

Frank DeMarte

52 2012 Non-Executive Director

Peter Schubert

2015 Non-Executive Director

Malcolm Randall

70 2006 Non-Executive Independent Director

Biographies

Name Description

Gordon Toll

Mr. Gordon Leonard Toll has been appointed as Executive Chairman of the Board of Royal Resources Limited, with effect from 28 November 2014. He is a mining engineer, entrepreneur, explorer and developer of large mining operations. Mr Toll has an extensive range of experience including acquisitions and new business, company/business turnaround, general management of companies at all levels and public company leadership including senior commercial and technical executive positions with major international resource companies including BHP Billiton, Rio Tinto, Atlantic Richfield, Texas Gulf, Ivanhoe Mines and the founding Chairman of Fortescue Metals Group. Mr Toll also led the reconstruction of the Savage River magnetite and pellet operations in Tasmania in the late 1990’s. Savage River has a 45-year history of successful magnetite production, which continues today. During his career his major commodity experience includes iron ore, coal, borates and other non-metallic industrial minerals, copper, gold, agricultural and heavy chemicals (specifically potash, soda ash, sodium bi-carbonate, sodium sulphate and sodium hydroxide), ethanol, methanol and oil and gas. He is also recognised for his involvement with innovative logistics and transportation solutions for the handling of bulk minerals. Mr Toll manages his private investment company and including Braemar Infrastructure Pty Ltd (BIPL) which has received Major Development status from the South Australian Government. BIPL is proposing to develop, own and operate a multi-purpose infrastructure solution corridor for iron ore mined in the Braemar Region including roads, electricity and water to support and facilitate mining in the Braemar Region.

Gavin England

Dr. Gavin England has been appointed as General Manager - Exploration and Development of the Company. Dr England has worked as the Chief Geologist for the Company for the past five years and has been involved in the Razorback project since the beginning. Dr England is a qualified geologist with 20 years’ experience in exploration and project development and resides in South Australia.

Frank DeMarte

Mr. Frank DeMarte is Non-Executive Director of Royal Resources Limited since April 16, 2012. Mr DeMarte has over 29 years of experience in the mining and exploration industry in Western Australia. Mr DeMarte has held executive positions with a number of listed mining and exploration companies and is currently a Non- Executive Director of the Company. Mr DeMarte is experienced in areas of company secretarial practice, management accounting and corporate and financial management. Mr DeMarte holds a bachelor of business majoring in accounting and is a fellow of the Chartered Secretaries of Australia and a Fellow of the Australian Institute of Company Directors. Mr DeMarte was first appointed to the board on 23 February 2004. In the last three he was Director of Thundelarra Exploration Ltd (from March 2001). He is Member of the nomination committee (from February 2004), Member of the remuneration committee (from February 2004) and Member of the audit committee (from April 2012).

Peter Schubert

Mr. Peter James Schubert is Non-Executive Director of the Company, since 17 December 2015. Mr Schubert is a professional private investor with over 20 years experience primarily in the small to medium Australian resource sector. His successful proactive investment style leads to strong support both financially and operationally for small companies with an eye to growth. In keeping with this Mr Schubert has built up a substantial shareholding in Magnetite Mines. A big vote of confidence in the enormous potential of Magnetite Mines and the resources of the Braemar Formation in the Mawson Iron Province of South Australia.

Malcolm Randall

Mr. Malcolm (Mal) Roger Joseph Randall is Non-Executive Independent Director of Royal Resources Limited since October 4, 2006. Mr Randall holds a Bachelor of Applied Chemistry and is a member of the Australian Institute of Company Directors. Mr Randall has had experience in corporate management and marketing in the resources sector including over 25 years with the Rio Tinto group of companies. His iron ore experience has included senior technical and commercial management roles in Hamersley Iron Pty Ltd and a commercial advisor to the Hope Downs Iron Ore project. In the last three years Mr Randall served as Director of Iron Ore Holdings Ltd (from 2003), Director of Matilda Zircon Limited (from 2009), Director of Summit Resources Limited (from 2007) and Director of Thundelarra Exploration Ltd (from 2003).

Basic Compensation

Name Fiscal Year Total

Gordon Toll

--

Gavin England

--

Frank DeMarte

240,739

Peter Schubert

--

Malcolm Randall

115,250
As Of  29 Jun 2012

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