Mark Rachovides

MARK RACHOVIDES, Executive Vice President of European Goldfields Limited, joined
the company’s Board in 2007 and was appointed as Executive Vice President in
July 2008. He was previously Vice President, Europe at Dundee Resources Limited
and is a well-known specialist in the company’s region of operations. He
formerly spent 11 years at the European Bank for Reconstruction and Development,
leaving as a Senior Banker in the Natural Resources Team where he was
responsible for mining investments. He has been involved in a wide variety of
projects in the former Soviet Union and Eastern Europe. He is also Lead Director
of High River Gold Mines Limited, a Canadian mining company operating in Russia
and Africa, and a Director of Uzhuralzoloto, one of Russia’s largest gold
producers. His recent former directorships include Cunico Resources, a base
metals producer in Europe and Africa, and OJSC Buryatzoloto, a mining company in
Russia. He led the EBRD’s financing of several major mining projects, including
the Kubaka Project in Russia, the Chelopech project in Bulgaria and the
Zarafshan-Newmont project in Uzbekistan. He has also led oil and gas financings
in the Balkans and the FSU. He has also written a number of articles and
conference presentations for the LBMA, the World Gold Council, PDAC, the Mining
Journal, the Russia-Canada mining group and other bodies. He has 22 years’
experience in banking, an MA from Oxford University and is an Associate of the
Chartered Institute of Bankers.