Directors Biographies

Mladen Ninkov

Mladen Ninkov, Non-executive Chairman of Spitfire Oil, aged 56, holds a Masters of Law Degree from Trinity Hall, Cambridge and Bachelor of Laws (with Honours) and Bachelor of Jurisprudence Degree from the University of Western Australia. He is the principal of Keynes Capital. He has a mining, legal, fund management and investment banking background and is admitted as a barrister and solicitor of the Supreme Court of Western Australia. He was the Chairman and Managing Director of the Dragon Capital Funds management group, a director and Head of International Corporate Finance at ANZ Grindlays Bank Plc in London, and a Vice President of Prudential-Bache Securities Inc. in New York. He also worked at Skadden Arps Slate Meagher & Flom in New York and Freehill Hollingdale & Page in Australia. He has been chairman and director of a number of both public and private mining companies. He is the Chairman of Griffin Mining, the AIM traded company, which has successfully brought the Caijiaying zinc mine in China into production. At the 2006 AIM Awards, Griffin Mining received the award for the best performing share on AIM over 5 years for the years 2001 to 2006.

Malcolm Randall

Malcolm Randall, Non-executive Director, aged 68. Malcolm joined the Group in November 2005. Malcolm has had extensive experience in corporate, management and marketing in the resource sector including over 20 years with Rio Tinto. His career has included senior technical and commercial management roles in Hamersley Iron Pty Ltd and commercial advisor to the Hope Downs Iron Ore project. Malcolm is chairman of ASX listed companies Iron Ore Holdings Limited and Olympia Resources Limited and is a director of ASX listed companies United Minerals Corporation NL, Thundelarra Exploration Limited and Royal Resources Limited.

Rupert Crowe

Rupert Crowe, Non-executive Director, aged 69. Rupert joined the Group in November 2005. Rupert has 30 years experience as a geologist and has been closely involved with exploration of the Deposit over the past nine years. After six years with the Geological Survey of Western Australia he became Exploration Manager for Aquitaine Mining (Ireland) Ltd. In 1984 he founded Crowe, Schaffalitzky and Associates Ltd in Ireland. From 1988 to 1996 he was a director at Invernia West Plc in Ireland and from 1990 he was the managing director of Leader Resources NL in Australia, From 1997 until December 2006 he was the managing director of CSA Australia Pty Ltd. From 1998 to 2006 he was in charge of development of the Caijiaying Zinc/Gold mine for Griffin Mining Ltd, which was the first new mine in China which was owned by a foreign company.

Roger Goodwin

Roger Goodwin Non-executive Director, aged 63, is a fellow of the Institute of Chartered Accountants in England and Wales who has held senior positions with a number of companies in the natural resource sector in both mining and oil and gas. He has a strong professional background formerly being a manager at KPMG with extensive experience with public companies and corporate finance especially in emerging markets. Roger was named as one of the UK’s top 100 finance directors by Finance Week magazine. Roger is also the Finance Director of Griffin Mining, the AIM traded company, which has successfully brought the Caijiaying zinc mine in China into production.