Published on: 2/18/2014 2:52:39 PM Print | Font Sizes:  Normal Text Large Text

Detour Gold makes appointments for top jobs

By: Northern Ontario Business staff

Detour Gold has made appointments to the positions of chief executive officer and chief financial officer.

Paul Martin has been named president and CEO, while James Mavor has been appointed to the position of CFO. Martin and Mavor have served in their respective roles on an interim basis since November.

Martin is a mining executive with more than 25 years of experience focused on Canadian and international precious metals mining and exploration companies. Martin joined Detour Gold in September, 2008, as CFO and served in this capacity until November 24, 2013, when he assumed the role of interim CEO following the resignation of Gerald Panneton.

Mavor is a finance professional with more than 20 years of experience in the mining industry. He joined Detour Gold in February, 2012, as vice-president of finance and served in that capacity until November 24, 2013, when he assumed the role of interim CFO. Prior to joining Detour Gold, Mavor worked at Barrick Gold Corporation from 1994 to 2012, serving as vice-president and treasurer during his last five years.

In January, the company announced it had failed to meet its 2013 production targets, citing an unscheduled mill shutdown as part of the problem. Early in February, however, the company announced an updated resource report with an extended projected mine life and positive proven and probable reserves.

Detour Gold is ramping up its Detour Lake mine, located northeast of Timmins, to a long-life, large-scale open pit operation. The Detour Lake mine has proven and probable reserves of 15.5 million ounces of gold.

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