Four independent non-executive directors joined the Board, including newly appointed Gordon Holden Sage, who has extensive experience in the mining industry, Alexander Voloshin, Sir Robert John Margetts and Paul James Ostling.
Accordingly, we are pleased to welcome a fourth independent non-executive director to the Board and look forward to working with Gordon Sage
and the other Board Directors in the interests of all shareholders".
1 According to the exchange rate of the RF Central Bank
as of 7 June 2012 1USD=32.79RUB
Gordon Holden Sage
Gordon Holden Sage was born in 1947.
In 1968 Mr Sage
graduated fr om the Imperial College
in London with a degree in Chemical Engineering.
Between 1970 and 2001Gordon Sage held a variety of senior posts within Rio Tinto wh ere he worked in planning, projects, financial development and market development.
In 1995-2001 he was CEO of the Industrial Minerals business.
In 2000-2002 Mr Sage was a non-executive director of the Railtrack Group and Merrill Lynch Group, as well as independent Chairman of the Board of Directors of World Mining Investment Company.
n 2001-2006 Gordon Sage served as Deputy Chairman of the Board of Directors of ERM Group Holdings.
In 2003-2010 he was a non-executive director in Balfour Beatty.
Since 2011 Mr Sage has been Senior Independent Director of Blackrock World Mining Trust.