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Directors and Officers

Mr. Stephan Theron , , , CEO, Executive Director & Safety, Health and Environment Committee Chair

Mr. Theron has over thirteen years of extensive financial management, project finance and equity analysis experience in the mining, energy and infrastructure sectors. Prior to joining Forbes Coal in November 2009, Mr. Theron was Sector Head, Materials and Energy at an independent investment research firm with a focus on emerging markets from September 2007 to October 2009. He also worked on various capital projects in Southern Africa for AMEC PLC from January 2002 to March 2004 and AMEC PLC from June 2004 to September 2007 in North America and Europe. Mr. Theron is a Certified General Accountant and has a Bachelor of Commerce degree from the University of Johannesburg.

Mr. Stan Bharti , , , Director

Mr. Bharti has over 25 years of experience in operations, public markets and finance. Over the last ten years Mr. Bharti has been involved in acquiring, restructuring and financing various mineral companies. He is a Professional Mining Engineer and holds a Masters Degree in Engineering from Moscow, Russia and University of London, England. From 2002 to April 2006, Mr. Bharti was a director and past president of Desert Sun Mining Corp. (which was acquired by Yamana Gold Inc. in 2006). Mr. Bharti is currently the President of Forbes & Manhattan, Inc. In addition, Mr. Bharti is a director of several public and private companies.

Mr. Quinn Roussel , , , Director

Thomas Quinn Roussel is a Principal of Resource Capital Funds, a mining-focused private equity firm based out of Denver, Colorado. Mr. Roussel has also worked as an engineer in both the mining and the oil & gas industries and currently serves on the board of an Australian resource company, Finders Resources. He holds MBA degress from the University of South Carolina and Wirtschafts Universitat-Wien and a B.S. in Mining Engineering from Colorado School of Mines.

Mr. John Dreyer , , , Director & Audit Committee Chair

Mr. Dreyer is a qualified South African lawyer, previously MD of Shell South Africa, CEO of Tavistock Coal and executive director of Anglo American Platinum. He served as chairman of ASX listed Firestone Energy until 2011. Mr. Dreyer currently serves on the board of ASX listed Cobar Consolidated Resources where he also serves on the audit committee.

Mr. Craig Wiggill , , , Chairman

Mr. Wiggill has held management, executive and directorship positions on several international mining and marketing companies in the coal sector and, as CEO of Coal Americas at Anglo American plc. was responsible for all of that company's coal activities in North and South America. He was previously Managing Director of Anglo Coal Marketing Ltd from 2000 to 2004 and is an engineer by profession (B.Sc. Engineering, University of the Witwatersrand, 1984).

Mr. Bernard Wilson , , , Director & Governance Committee Chair

Mr. Bernard Wilson is a senior financial professional with a wide array of working relationships with business executives in Canada, the United States and internationally. Mr. Wilson serves as an advisor in corporate finance and investment banking and has extensive experience in major financial restructurings and international trade and commerce issues. Some of Mr. Wilson's more notable leadership roles include serving as the Chairman of the Canadian Chamber of Commerce, the largest Canadian business organization with 175,000 members, Chairman of the Canadian Council for International Business, Chairman of the International Chamber of Commerce, as a member of the Canada/US Trade Committee and Chairman Founders Board of the Institute of Corporate Directors.

Mr. Michael Price , , , Director

Mr. Price has more than 35 years experience in mining and mining finance. He has BSc and Phd qualifications in mining engineering from University College Cardiff, UK, a Mine Managers Certificate of Competency (Coal Mines) South Africa and he is a European Engineer (FEANI) and Chartered Mining Engineer (CEng). After working for BP Coal, BP Minerals and BP Exploration in various mine management and business development roles Mr. Price moved into mining finance with NM Rothschild & Sons, Societe Generale and Barclays Capital where he structured, arranged and advised on the financing of mining projects worldwide. Mr. Price is now a Non-Executive Director of several mining companies and he is an independent adviser on mining finance as well as the London Representative of Resource Capital Funds.