NevGold Corp. (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) has appointed Dale Found as chief financial officer as the explorer advances its Limousine Butte gold-antimony project in Nevada.
The company said Thursday that Found takes over the CFO position immediately. Meanwhile, outgoing CFO Bob McKnight will move into the newly created role of vice-president of engineering studies.
NevGold recently completed an updated mineral resource estimate for its Limousine Butte project. The company is now preparing an engineering study as it moves the project toward more advanced development work.
CEO Brandon Bonifacio said the management changes will help prepare NevGold for that next phase. Additionally, he pointed to Found’s experience with development projects, mine construction and operating mines across the Americas.
Found brings more than 35 years of international accounting and finance experience to the company. He spent the past 20 years in increasingly senior positions within the mining industry.
Most recently, Found served as CFO of Alta Copper Corp. before it was acquired by Fortescue Ltd. (ASX: FMG) earlier this year.
Found also worked on the senior leadership team at Nevada Copper Corp. during development of its Pumpkin Hollow mine. Furthermore, he helped position the Nevada project for its final construction phase.
Earlier, Found worked with New Gold Inc., then owner of the New Afton mine in British Columbia, prior to its acquisition by Coeur Mining
(NYSE: CDE) (TSE: CDE). He helped take New Afton through construction and into commercial production on schedule and within budget.
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McKnight will focus on upcoming engineering study at Limousine Butte
In addition, Found previously handled financial matters for New Gold’s operations in Mexico from a mine-site position. His experience includes financial reporting, operational planning, treasury management and implementation of business management systems.
Found is a Chartered Professional Accountant. He is also a fellow of the Institute of Chartered Accountants in England and Wales.
McKnight will now focus on the upcoming engineering study at Limousine Butte. He brings more than 40 years of mining industry experience to the newly created position.
During his career, McKnight has participated in more than USD$1.5 billion of project debt, equity, streaming and merger transactions. Additionally, he helped arrange more than USD$500 million for Pumpkin Hollow while serving as Nevada Copper’s executive vice-president and CFO.
McKnight holds professional engineering credentials along with bachelor’s and master’s degrees. His move allows NevGold to retain his experience while directing more attention toward technical project development.
Meanwhile, the management changes follow NevGold’s recent resource update for Limousine Butte. The estimate outlined both gold and antimony resources across the company’s Nevada property.
The company has increasingly positioned antimony alongside gold as a central part of the project’s development case. Antimony has applications in military equipment, flame retardants, batteries and several other industrial products.
Additionally, the company granted 400,000 stock options under its omnibus equity compensation plan. Each option allows its holder to buy one NevGold common share for CAD$1.40.
Consequently, the options will remain exercisable until Sept. 3, 2031. The company issued the options under the terms of its existing equity compensation plan.
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