Ian R. Kraemer

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Ian R. Kraemer is a Managing Director of Mantle Mining, a small coal, gold and uranium exploration company. He commenced in the position in 4 February 2008.

A biographical note states that Kraemer has "an has an extensive background in the resources sector with over 20 years’ professional experience in the exploration, acquisition, construction and operation of diverse mining projects in the coal, gold and nickel sectors. Prior to involvement in Mantle Mining, Ian worked for 8 years as Business Development Manager with Thiess. In that capacity he was responsible for acquisitions and for underground mining project design, development and operational takeover. Most recently he held the position of Project Director responsible for the development and commercialisation of clean coal technology company Exergen, reporting directly to the Chairman of Thiess. Ian first commenced his mining career in 1980 as a cadet Coal Mine Manager in Queensland. During the following 8 years he held various line management positions culminating in the appointment of Relieving Underground Coal Mine Manager at Moura. In 1987, Ian left Moura and relocated to the USA where he completed Bachelor’s and Master’s Degrees in Mining Engineering at Columbia University in NYC. He then accepted the position of Director Operational & Strategic Planning for Pittston Coal & Minerals (15 coal mines in USA and 2 metal mines in Australia) followed by a transfer back to Australia as Director Australasian Business Development."

Remuneration

In November 2007 Mantle announced that the "remuneration package agreed" with Kraemer was:

• Salary, superannuation contribution and car allowance: total $297,500 per annum
• Incentive/Performance component: 2,000,000 options in Mantle, with vesting to operate by way of four tranches of 500,000 options each, subject to shareholder approval and achievement of the following key business milestones and dates –

• Access Agreement regarding Mt Mulligan Coal Deposit by end June 2008
• Initial formal JORC Resource estimate for Mt Mulligan by end Dec 2008
• Pre-Feasibility Study for initial development at Mt Mulligan completed by end June 2009
• 500,000 oz gold equivalent JORC Resource estimate for Granite Castle Gold Project achieved by end December 2009
• Incentive/Performance component is to be refreshed in the future, during 2009, having regard to the business outlook and challenges facing Mantle at that point."

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