The directors of the Fund have overall authority over, and responsibility for, the operations and management of the Fund. The Fund has however, delegated the investment management of the Fund and its investments to the Investment Manager pursuant to the terms of the Investment Management Agreement
An Advisory Committee has been established and the members of the Advisory Committee have been appointed to provide corporate, corporate strategic and investment advice to the Fund and its related entities pursuant to the letters of appointment between the Fund and each of the members of the Advisory Committee

Directors of the Fund

Brief summaries of the credentials and qualifications of the Directors of the Fund are set forth below:

Gregory James B.Com., CA, SAICA

Mr James is a director of the Fund and of the Investment Manager and a member of the Advisory Committee.  Mr James was the Head of Group Audit and Industrial Assets at Glencore International AG, one of the world's largest suppliers of commodities and raw materials to industrial consumers from 2002 to June 2005.  Mr James held ultimate responsibility for internal audit plan and implementation of the internal audit plan for the entire group including all Glencore industrial assets (Portfolio Value US$8 Billion). From 1994 to 2002, Mr James was Chief Financial Officer of Glencore International AG’s Coal Division at.  

Mr James’ major achievements include successfully implementing Glencore's growth plan in coal: Glencore acquired a number of coal assets in Colombia, Australia and South Africa over an eight year period, for which he had ultimate responsibility - as a result of these acquisitions, Glencore became the largest coal producer of export thermal coal in 2001.  (This after Glencore did not produce any coal at the beginning of 1994).  Mr James was responsible for the development of the Colombian Coal mine from a 3 million ton pa producer to a 30 million ton pa producer; successfully led negotiations with the Colombian Government to gain access to the rail and port system that had been developed for the exclusive use of Exxon and the Colombian Government; was responsible for the successful merger of Glencore's Colombian coal assets with Rio Tinto Colombian coal mine; successfully arranged the sale of the coal mines in South Africa and Australia to Glencore’s associated company Xstrata (which then listed with these assets on the London Stock Exchange. As a result of these transactions Xstrata is in the FTSE 100) (US$2.5 Billion).

Mr James is a Chartered Accountant (SA), he obtained a Higher Diploma in Accounting and a Bachelor of Commerce from Rhodes University in South Africa.  Mr James is also a member of the South African Institute of Chartered Accountants (SAICA).

Gavan Farley Dip. Bus. MBA

Gavan Farley is a director of the Fund and a consultant to Empire Funds Management. Gavan Farley has over 30 years in international business experience, ranging from tourism and resorts in London, Paris, Africa and the Caribbean, to high technology engineering solutions with Farley Laserlab, ($75m/ year producer of Laser Cutting Systems now owned by HG Tech - Wuhan China) Currently resident in Chicago, Mr Farley runs a marketing and product launch consultancy (AME Associates) specialising in bringing companies and products to launch in the US market. Mr. Farley will spend between 50 and 60% of his time in Sydney working with Empire and associated entities.
Mr. Farley, obtained his business qualifications with a Business Studies Diploma from Footscray Institute of Technology (now Victoria University) Melbourne Australia, and an MBA-Finance from the University of Birmingham UK. He has spent over 15 years in the UK, 11 in the USA and a further five years in Africa & the Caribbean.

Principals of the Investment Manager, Asset Manager and the Funds Manager

Brief summaries of the credentials and qualifications of the principals of the Investment Manager, Asset Manager and the Funds Manager are set forth below:

Gerard Farley

Mr Farley is the Chief Executive Officer and director of the Funds Manager and leads the Advisory Committee. Mr Farley has run the mining and resources division, advising institutional and corporate clients in relation to their primary and secondary investment, for James Capel Inc (HSBC) in London and New York, and Merrill Lynch in New York, from 1984 to 1990. In Australia Mr Farley has continued his success in senior advisory roles with several leading brokerage firms including the State Bank of New South Wales’ First State Securities. Mr Farley is currently consulting to Findlay & Co Stockbrokers & Underwriters. Over the past decade Mr. Farley discovered, funded and invested up to 4O% collectively alongside his clients in each of a number of very successful early stage mining companies, such as Annaconda (Minara Resources Ltd.), Bendigo Mining Ltd, Bunnine Ltd, Kingsgate Consolidated Ltd, Mt Edon Gold Ltd., Independence Group Ltd., Legend Mining Ltd., Caspian Holdings PLC. Mr Farley is currently a director and financier of Randquest Syndicate Limited to what is potentially the largest new Gold and Uranium IPO in the world for some 15 years, in London and Toronto March 2007. (Competent Persons Report cites inferred resource of 60 million oz of gold). The companies above have a combined market cap of over $2 billion where collectively they were capitalised under $100 million. 


Patricia Peitrequin B.B.A IMD, PED.

Ms Peitrequin, is a director the Investment Manager, the Chief Executive Officer and a member of the board of directors of PCG Turicum AG, the Asset Manager, and a member of the Advisory Committee. Previously, Ms Peitrequin was a partner in an asset management company based in Zurich and prior to this she served as a member of senior management for a private family owned bank in Zurich (the Landolt family) from 1998 to 2002. From 1994 to 1998 Ms. Peitrequin was a private banking team manager region USA - South America & Italy. In 1998 Ms Peitrequin was honoured with ‘Simply the Best Award’ Coutts Bank von ernst Schweiz AG. She worked with large well known Swiss private banks such as Bank Leu AG (Team The Americas), Coutts Bank von Ernst Schweiz AG (Team International Clientele) as well as for UBS AG (International) and Lloyds Bank Plc Zurich (Team Middle East).


Advisory Committee Members

Brief summaries of the credentials and qualifications of the members of the Advisory Committee are set forth below:

John A Corcoran B.Ec, Llb.

Mr Corcoran is a professional investor in listed and unlisted companies mainly in the resources and industrial services sector and is an advisor to companies in preparing for IPO situations, such as the recently launched NRW Holdings Ltd. John has held senior positions as an executive or non executive director in a number of public companies, such as Multiplex Group (director and CFO), Chairman of Greenwich Resources (a London listed gold explorer Chairman of Danae Resources a publicly listed Australian Company focussed on the development and exploration of gold projects. (Now a part of Mineral Securities Ltd,) John is currently the principle advisor to the Global Switch Group London and Chairman of Global Switch's Asia Pacific operation.)

Johnny Kahlbetzer

Mr Kahlbetzer’s business interests, include Twynam Agricultural Group and Liag Group, which together form one of the world’s largest agricultural commodity producers, and landmass property portfolios. Mr Kahlbetzer is major shareholder and investor in numerous listed mining and resources companies and junior ventures which he actively manages and has co-invested and financed transactions with Mr Farley in the mining and resources sectors.

Mark Lochtenberg B.Llb., (Hons)

Mr Lochtenberg currently serves as Managing Director for Cockatoo Coal Limited. Previously, Mr Lochtenberg was the co-head of Glencore International AG’s world wide coal division following his heading up of the coal trading desk of Glencore's Australian coal trading operations. During that time, he was actively involved in purchasing, managing and aggregating the coal project portfolio which became Xstrata Coal. Prior to this Mr Lochtenberg had established a coal 'swaps' market for Bain Refco (Deutsche Bank) after having served as coal marketing manager for Peko Wallsend Limited

Dr Victor Rudenno B. Eng., M. Com., PhD

Dr Victor Rudenno is the Chief Operating Officer and co-founder of ECM Limited, an investment bank that specialises in corporate advice and capital raisings. Prior to ECM Limited, Dr Rudenno was a Director of Research at CIBC World Markets; a director of the Investment Banking Division of Hartley Poynton Limited; Head of Resources, Corporate Finance at Deutsche Bank and an Associate Director at McIntosh CorporateDr Rudenno is a Fellow of the Securities Institute of Australia (SIA) and a member.

Ross Smyth-Kirk B. Com, CPA, F Fin

Mr Smyth-Kirk was a founding director of Australian investment house Clayton Robard Management Ltd. and was recognised as one of the leading Australian investment managers for many years, with a particular emphasis on the resources sector. For the past 16 years he has been a private investor and company director and has been a director of numerous companies in Australia and the UK over the last 25 years. He is currently the Chairman of Kingsgate Consolidated Ltd, the extremely successful Australian operator of the low cost, low sulphidation epithermal Chatree gold/silver deposit in central Thailand.

Additionally the principals of the Investment Manager, the Asset Manager and the Funds Manager serve as members of the Advisory Committee.

Home | Empire Resources Fund