About us

Skarn is an independent mining industry advisory practice, founded by Mark Fellows and Charles Cooper.

The principals have nearly 50 years of combined industry experience, and an extensive network of trusted associates within the mining and financial sectors. We have strong relationships with mining companies and financial institutions.

Skarn provides advice and consultancy services to exploration/mine development companies, miners, brokerage firms and financial institutions. We advise on the whole asset/transaction life cycle, from early-stage, to execution and post-deal activities. Transactions we support include acquisitions, alliances, joint ventures, divestitures and securitizations.

Skarn links its clients to key services including structured finance (debt and corporate) and other funding solutions. While we have strong relationships with numerous financial institutions and investors, we provide our clients with independent, unbiased advice, always keeping the client’s interests paramount.


Mark Fellows BSc, MIMMM

Mark is a mining industry consultant with 30 years experience, providing strategic advice on metal markets, exploration, development projects, operating mines and corporate development. Mark’s expertise includes asset evaluation, benchmarking and optimisation, and encompasses, geology, mining, ore processing, and mining finance. He has conducted investment appraisals of numerous companies, mining projects and mining sector services businesses.

Prior to co-founding Skarn, Mark led the metals & mining consulting business at SNL Financial.

His career started in 1987 as an exploration geologist with Anglo-American Corporation in Southern Africa. He went on to work for junior diamond and gold explorers in West and East Africa. He subsequently spent 13 years at Brook Hunt & Associates Ltd (now Wood Mackenzie) where he held the position of Director with primary responsibility for bespoke consulting work.

From 2009 Mark was Managing Director of GFMS Mine Economics Limited, a business co-founded with GFMS Limited, which was sold to Thomson Reuters in 2011.


Charles Cooper BSc, MSc


Charles has over 20 years of mining industry consulting experience. He started his career as a geologist, before joining Brook Hunt where he worked as a senior mining analyst for nearly 10 years. Following this he worked as a sell-side analyst for a number of London leading investment banks including Evolution Securities and Oriel Securities.

Charles was recently Research Director at S&P Global Market Intelligence (previously SNL) where he was responsible for developing mine economic analysis. In addition he undertook a numerous bespoke consulting projects. Prior to this Charles was Managing Director of The Gold Mining Company Ltd, an investment vehicle focused on acquiring operating gold mines in West Africa. Charles was also CEO of several private exploration companies targeting oil shale, gold and potash assets in East Africa and antimony-gold projects in Georgia.

Charles has carried out a variety of assignments, from mine and royalty valuation, commodity supply-demand analysis, technical due diligence, debt and equity financing to corporate strategy. 


Craig Elstow MSci, MSc


Craig has 4 years of experience as a geologist in the mining industry. He completed a student internship with the mine economics team at GFMS Ltd. before completing his degree. After graduation, having started work at an underground gold mine in West Africa, he went on to work as an exploration geologist with Rio Tinto Iron Ore in Western Australia. Over the three years, he worked at several different mines and exploration sites across the Pilbara, supporting numerous drilling programmes over a range of iron ore deposit types. He gained experience in assay validation and proficiency with QAQC. 

He also holds an MSc Petroleum Engineering degree.


Ros Lund BA

Business Development

Ros works part-time as a consultant Mining Specialist within the Department of International Trade helping UK mining supply chain companies connect with export opportunities in Central Asia, Central Europe and the Balkans. 

During her career Ros has completed secondments to Germany, Sweden and Ghana. Ros is a qualified Six Sigma Black Belt and Corporate and Career Coach. She holds a BA Social Ethics from Lancaster University. Ros has directed more than 50 mining conferences, seminars and events for the World Initiative of Mining Lawyers, Objective Capital, SNL, Women in Mining and the Association of Mining Analysts in the UK and overseas. She created Mining on Top, a conference focused on mining’s role in African development, which attracted 500 delegates and 13 African Ministers in its second year. 

Prior to mining, Ros spent 14 years in Payments, working for American Express and Barclaycard in a variety of operational and commercial roles.