JR Rapoo	M Welthagen	JL Bosch	AP Roux	Prof DL Reid

Jeffrey Rapoo
(Non-executive Chaiman) (BComm (Accounting), Hons B Compt) is at present Managing Director of North West Transport Investments (Pty) Ltd and formerly acting managing director at the Mpumalanga Development Corporation of the Mpumalanga Province and is also a director of Saminco Ltd. Mr Rapoo has considerable experience in the field of project development and financial administration.

Marius Welthagen
(Chief Executive) has 24 years of mining experience. Mr Welthagen is a qualified mining engineer and specialised in mineral economics (MEng (Mining), MPhil Mineral Economics, BComm Hons (Economics)). He, inter alia, worked at Kloof Gold Mine, Greenside Coal Mine in the Gold Fields Group, at the Minerals Bureau of South Africa and as a gold analyst for a leading stockbroker on the JSE. He is also chairman of Saminco Limited a mining investment company.

Leopold Bosch
(Non-executive Director) studied at the Potchefstroom University where he obtained his M Sc Geology (cum laude) during 1963 with a thesis on kimberlite occurrences in the Barkly West district of the Northern Cape province. After spending some years as field geologist and mineralogist, he was appointed as geologist with the Industrial Development Corporation of South Africa Limited in 1968, and was involved in numerous geological investigations and projects. He retired in 1995 as deputy General Manager. He consulted to Thabex since October 1997 and joined the Board in March 1999. On 1 october 2003 he was appointed Executive Manager of the Geological Society of South Africa.

Anton Roux
(Non-executive Director) is a deciduous fruit producer in the Franschhoek Valley in the Western Cape Province and is a director of Saminco. He has been associated with the group since 1981 as director of SA Mineral Investments (Pty) Ltd. He is a graduate of the University of Stellenbosch holding a B Agric degree.

David Reid
(Non-executive Director) has been with the University of Cape Town since 1972 and is currently an Associate Professor in the department of geological sciences. He is a member of the Geological Society of South Africa since 1973 and has twice been awarded their Jubilee Medal in recognition for published research in South African geology and geochemistry. David Reid has published, lectured and consulted widely on topics related to economic geology and geochemistry, with particular emphasis on mineralisation in Namaqualand, Bushmanland, Namibia and the Bushveld Complex.

Explore, search and turn to account mineral projects in South and Southern Africa, using professional teams, to benefit shareholders, employees and the peoples of the region.

OBJECTIVES

• to create real wealth for its shareholders by turning to account its exploration projects, and
• to develop small to medium sized deposits into going concerns in an environmentally friendly and socially responsible manner
• as far as possible enter into joint ventures with larger mining companies to develop the company's larger projects.

Thabex has in pursuit of these objectives put together a diversified portfolio of mineral rights and options to mineral rights. The portfolio is diversified in:

• the minerals being explored,
• the size of the projects,
• the geological, and
• economic viability of the projects.
  
  

CORPORATE GOVENANCE

DIRECTOR'S INTEREST IN THABEX LIMITED

As at 29 February 2008 the direct and indirect beneficial interest of each director were as follows:

Director	Directly		Indirectly		%
	Beneficial	Non-beneficial	Beneficial	Non-beneficial
JL Bosch	16 000	-	-	-	0.06
JR Rapoo	20 000	-	-	-	0,12
Prof DL Reid	16 600	-	-	-	0,09
AP Roux	16 000	-	170 000	-	1,09
M Welthagen	1 000	-	3 535 346	46 530	10,05