Lexton Graefe – Chief Financial Officer

Mr Graefe is a Certified Public Accountant with extensive management and commercial experience in the mining industry acquired over the last 25 years. Prior to joining Sphere in early 2005, Mr. Graefe spent eight years in overseas postings in developing countries. He was previously Managing Director of Resolute Mining’s operating gold mine in Tanzania. He was also President Director of Rio Tinto Indonesia and General Manager Finance for Rio Tinto in India. Before working offshore with Rio Tinto, he held management, financial and commercial roles within Hamersley Iron Pty Ltd over a period of 16 years.

Richard Harmsworth – Chief Geologist

Richard Harmsworth is a geologist and Fellow of the Australasian Institute of Mining and Metallurgy. Richard spent 26 years with Hamersley Iron prior to his retirement at the end of 2001. Richard has had extensive experience in all aspects of iron ore geology and was co-author of a breakthrough paper on the genesis of iron ores in the Hamersley Province in Western Australia. He played a key role in educating Hamersley’s customers on the different ore types of the Hamersley Province and subsequently has a high reputation within the iron and steel industry.

Schalk van der Merwe – Exploration Manager

Schalk is a structural geologist with 30 years of geological experience. He obtained a PhD in structural geology from the University of the Free State, South Africa in 1986. Schalk was involved with: greenstone gold exploration (Tanzania, Zimbabwe and Mali) for various exploration companies; base metal exploration for Anglo American plc (South Africa, Namibia, Togo, Burkina Faso, Morocco) and Kumba Resources (Namibia); coal for ISCOR (South Africa) and Amcoal (South America); manganese and iron ore for Samancor and Kumba Resources in South Africa and titanium sands in Mozambique. Schalk carried out the original geological mapping on all of Sphere's iron ore interests in Mauritania.

Robert Samuel (Sam) Middlemas - Company Secretary

Mr Middlemas is a chartered accountant with more that 15 years experience in various financial and company secretarial roles with a number of listed public companies operating in the resources sector. He is the principal of a corporate advisory company which provides financial and secretarial services. Previously Mr Middlemas worked for an international accountancy firm. His fields of expertise include corporate secretarial practice, financial and management reporting in the mining industry, treasury and cash flow management and corporate governance.