Michael is co-founder of W Resources Plc and has an exceptional track record in establishing and financing new resources companies. In 2010, Michael took on an Executive role with Fortescue Metals Groups overseeing the FMG Iron Bridge iron ore company and completed the US$1.15bn sale of a 31% interest in the project to Formosa Plastics Group. He was CFO and Executive Director of Anaconda Nickel (now Minara Resources). Michael oversaw the financing of the US$1.2 billion Murrin Murrin Nickel and Cobalt project in Western Australia, involving the negotiation of a US$220m joint venture agreement with Glencore International and the raising of US$420m in project finance from a US capital markets issue – the first of its kind for a green fields mining project. Prior to joining Anaconda Nickel, he spent 8 years at McKinsey & Company serving major international resources companies principally in the area of strategy and development. He is a founding shareholder at Fortescue Metals Group, Po Valley Energy and Atacama Metals.
David is the former General Counsel, Secretary and Chief Compliance Officer of Dominion Petroleum Limited (an oil and gas exploration company then listed on the LSE), Legal Advisor to Hague and London Oil plc (an oil and gas exploration company listed on the LSE) and non-executive chairman of Saffron Energy plc (an oil and gas exploration company listed on the LSE). Before joining Dominion, he had practised as a barrister for 18 years from Brick Court Chambers, a leading commercial barristers’ chambers in London. David currently provides flexible legal counsel services to various private and listed companies through The Legal Director Limited.
James Argalas has extensive experience in the financial and investment sectors. In 2006, he founded Presidio Union, LLC, a company that specialises in providing financial analysis and corporate advisory services to early stage growth companies and their investors, taking an active role in developing ventures that have the potential to create significant shareholder value. Prior to founding Presidio Union, James was a Principal at Watershed Asset Management and NM Rothschild, where he was responsible for investments in distressed credit, liquidations, real estate, special situations, and debt and equity investments in Asia-Pacific. Prior to Watershed, James was an Associate Principal with McKinsey & Company and an Associate at Goldman Sachs. With a Master of Business Administration degree from Kellogg Graduate School of Management (Northwestern University) with majors in Finance, Entrepreneurship and International Business. James also holds a Bachelor of Science degree in Engineering from the University of Michigan, and a Bachelor of Science degree in Foreign Service from Georgetown University.
Jesus has more than 40 years’ experience in the mining industry operating and managing metallurgic and gravimetric plants, mostly on tungsten and tin projects in Spain. His holistic experience of plant, mine and laboratory workings as well as his technical skills gained throughout his career working at numerous mines throughout Spain has provided him with the very skills needed to steer the La Parrilla mine to its next stage of production.
Marcos is a Mining Engineer with a degree from the Polytechnic University of Madrid (UPM) with further training at the Pontificia Universidad Católica de Chile (1 year). Marcos specialises in optimisation, resources evaluation and reserves definition, scheduling and design of both pits and dumps in open pit metal mining.
With more than 7 years of experience he has carried out the designs and scheduling in the copper mine of Cobre Las Cruces, in Seville, Spain, one of the mines with the highest copper grades in the world, owned by First Quantum Minerals.
With almost 30 years’ experience as a qualified accountant and circa 15 years serving as a director to public limited companies listed on the London Alternative Investment Market, Paul brings extensive capital markets, financial and commercial experience to the W Resources Team.
Having previously gained experience with Bowater plc and Courtaulds plc before joining Immuodiagnostic Systems Ltd in 1993 Paul was a key member of the team that carried out the IPO (Initial Public Offering) in 2004 and became Group Finance Director at Immunodiagnostic Systems Holdings plc, where he provided strategic, corporate and financial guidance for the Group and its subsidiary companies.
Paul also served as a Non-Executive Director for almost 6 years at Utilitywise plc, a utilities brokerage company during which he served as Head of the Audit Committee for a number of years.
The Board of Directors comprises three members. Chairman, Michael Masterman, has a wealth of minerals exploration and development experience. David Garland, Non-Executive Director, has a wealth of experience in both the minerals industry and in law. James Argalas, Non-Executive Director has extensive experience in the financial and investment sectors. Non-Executive Director, Ismael Cabanillas Verde has over 20 years experience in various sectors. The structure of the Board ensures that no one individual or Group dominates the decision-making process
As W Resources is a relatively small publicly listed company by comparison to other listed entities which is reflected by the size of its operations, Board structure and Board composition it is not considered practical to have a formal internal audit function. The Board has agreed not to elect an Audit Committee as it considers that the functions normally conducted by an Audit Committee are adequately undertaken by the full board.
The Remuneration Committee comprising the Non-executive Directors, meets at least once a year and is responsible for making recommendations to the Board of Directors, on senior executives remuneration. Non-executive Directors’ remuneration and conditions of engagement are considered and agreed by the Board. Financial packages for Executive Directors are established by reference to prevailing market conditions and performance of each executive director.