LRFM Board - Lowell Resources Funds Management

Mr Morrow is an equity partner with Melbourne-based stockbroker Baillieu Holst and is honorary Chairman of the Melbourne Mining Club. He has more than 30 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 qualified as an accredited dealer in derivatives (ADA2). Richard is a Fellow of the AusIMM.

Mr Forwood is a qualified lawyer and geologist experienced in the resources sector. He has 17 years of resources financing experience 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.

Mr O'Connell has over 25 years extensive finance industry experience in life insurance, asset management, custodial services, financial planning and superannuation (consulting, administration and trustee services).  He has headed the compliance and risk management functions for several large multi-national asset managers.  Mr O'Connell has been appointed company secretary for a number of asset managers, headed custodial operations for corporate actions, reconciliations and unlisted trust management and was a key person in the eventual sale of Mellon Australia's superannuation and administration consulting businesses in 2005.  He has held Board positions at one of Australia's leading asset management companies, chairs Compliance Committee's for leading asset managers and continues to be a Responsible Manager for a number of asset management companies.

Mr O'Connell also sits on the Board of a number of small businesses within the finance industry.

Mr Mitchell has over 20 years experience in the international resources sector with experience in management, corporate advisory and investment banking. As Managing Director, Mr. Mitchell developed Molopo Energy Limited, an ASX listed energy company, into a successful international oil and gas group with a market capitalisation that at times exceeded 0m and with projects in Australia, Canada, the US, Asia and Africa. Previously he was Chairman of Lowell Capital Limited, the Responsible Entity for the Lowell Resources Fund, and had various corporate advisory/finance roles specialising in resources with Prudential Bache in New York and the Lowell group in Australia.

Mr Mitchell completed a Master of Arts in International Economics and Politics at Johns Hopkins University in the US and is also a member of the Australian Institute of Company Directors.

Investment Team - Lowell Resources Fund (ASX:LRT)

Mr Forwood is a qualified lawyer and geologist experienced in the resources sector. He has over 17 years of resources financing experience 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.

Mr Morrow is an equity partner with Melbourne-based stockbroker Baillieu Holst and is honorary Chairman of the Melbourne Mining Club. He has more than 30 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 qualified as an accredited dealer in derivatives (ADA2). Richard is a Fellow of the AusIMM.

Mr. Stuart Baker joined the IC in July 2018. He brings a wide experience in valuation and analysis of energy companies. He has astrong local and international reputation for oil and gas E&P company coverage as a senior investment analyst, including 14 yearswith Morgan Stanley. In a career spanning more than 30 years, Mr Baker has also worked in senior research roles with BT Equitiesand Macquarie Equities. He crossed over to researching listed companies after gaining industry experience with international oilfield services group, Schlumberger.