LRFM Board - Lowell Resources Funds Management

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.

Dr Hobday is a geologist with diverse experience in oil and mineral exploration, applied geological research, corporate finance and investment.  He received his PhD degree from Louisiana State University and was a Research Fellow at Oxford.  Dr Hobday's petroleum and mineral exploration, appraisal and research activities over a period of 35 years have covered five continents.  He was a 1984 recipient of the Wallace Pratt Memorial Award from the American Association of Petroleum Geologists "in recognition of significant contributions to petroleum geology".

As a fund manager with APA Oceanic during the 1980s, Dr Hobday was responsible for investments in energy and gold equities.  With Bank of America and then the Australian Bank he was involved in corporate finance, particularly applied to the resource sector.  He has undertaken resource appraisal around the Caspian Sea, in Africa, South America, China and India, and explored for oil and gas in the United States.  Dr Hobday has served on the Boards of several oil and mining companies in Australia and North America.

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.

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).

Investment Team - Lowell Resources Fund (ASX:LTR)

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.

Dr Hobday is a geologist with diverse experience in oil and mineral exploration, applied geological research, corporate finance and investment.  He received his PhD degree from Louisiana State University and was a Research Fellow at Oxford.  Dr Hobday's petroleum and mineral exploration, appraisal and research activities over a period of 35 years have covered five continents.  He was a 1984 recipient of the Wallace Pratt Memorial Award from the American Association of Petroleum Geologists "in recognition of significant contributions to petroleum geology".

As a fund manager with APA Oceanic during the 1980s, Dr Hobday was responsible for investments in energy and gold equities.  With Bank of America and then the Australian Bank he was involved in corporate finance, particularly applied to the resource sector.  He has undertaken resource appraisal around the Caspian Sea, in Africa, South America, China and India, and explored for oil and gas in the United States.  Dr Hobday has served on the Boards of several oil and mining companies in Australia and North America.

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).

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.