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Detour Gold seeking new chief financial officer

Current CFO James Mavor announced departure on Feb. 20
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Detour Lake Mine
Detour Gold is searching for a new CFO following the resignation of James Mavor. (Detour Gold photo)

Detour Gold Corp. is on the hunt for a new chief financial officer (CFO).

The company announced on Feb. 20 that current CFO James Mavor would be leaving, effective April 15.

“On behalf of the board, we would like to thank Jim for his positive contributions during his seven years with Detour Gold,” interim CEO Bill Williams said in a news release.

“We wish him the very best in his future endeavours.”

Detour said it would immediately start a formal search for Mavor’s successor, although Mavor will remain with the company through its 2018 financial reporting obligations.

“The board is taking this opportunity to renew the leadership team at Detour Gold, as it searches for both a permanent CEO and a new CFO to lead the company on the next stage of its development,” Detour board chair James Gowans said in the release.

Former CEO Michael Kenyon, who had been serving as interim CEO, gave his six-week notice on Dec. 13 following a shakeup that replaced most of the existing board.

The change was the result of a push by Paulson & Co. Inc., a New York-headquartered investment management firm that owns 5.7 per cent of Detour Gold’s shares.

Detour Gold operates a single asset – the Detour Lake gold mine is located within the Abitibi Greenstone Belt, 300 kilometres northeast of Timmins. Gold production started in February, 2013.

The operation has a mine life of approximately 23 years with an average gold production of 659,000 ounces per year, and includes the development of the West Detour project, which is currently being permitted.




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