TORONTO, April 1, 2019 /CNW/ - Detour Gold Corporation
(TSX: DGC) ("Detour Gold" or the "Company") is pleased to
announce the appointment of Michael (Mick)
McMullen as Chief Executive Officer and Director of the
Company effective May 1, 2019.
Mr. McMullen has over 25 years of international experience in
the mining industry with an accomplished background in all aspects
of the mining business, including exploration, permitting, mine
development, financing, operations, product sales, and asset
acquisition and divestments as well as the debt and equity markets.
He has managed multiple operations (open pit and underground mines)
across multiple jurisdictions. His experience covers a range of
commodities, including copper, gold, iron ore and PGMs.
Interim Chair of the Board of Detour Gold, Dawn Whittaker, commented, "We are delighted to
welcome Mick to the CEO role. We will greatly benefit from his
wealth of experience and his proven track record of building and
leading successful teams, employing strict capital discipline, and
delivering outstanding returns to investors. We look forward to his
leadership in taking the Company through its next phase of growth
and development."
Mr. McMullen stated, "I am excited to be joining the Company and
look forward to working with the team to continue to build a
leading mid-tier gold producer with a strong safety culture and
cost performance. The Company has a unique asset with a long mine
life in a low-risk jurisdiction that has the potential to
deliver significant value to shareholders. I look forward to
engaging with the Company's stakeholders to provide our vision for
the way forward for the Company."
The Board of Directors expresses its appreciation to
Bill Williams, who has served as
Interim Chief Executive Officer of the Company since January 2019. Dr. Williams will remain on the
Board as a Director.
More Info on Mick
McMullen
Since 2018, Mr. McMullen has been a senior advisor to Black
Mountain LLC, a private company engaged in identifying and
capturing high-growth opportunities within the natural resource
space.
He was Chief Executive Officer and a Director of platinum and
palladium ("PGM") producer Stillwater Mining Company from 2013 to
2017 prior to its acquisition by Sibanye Gold Limited for an equity
value of US$2.2 billion. During his
tenure, the Company achieved its best safety performance on record,
reduced AISC/PGM ounce by approximately one third, expanded its PGM
recycling business to be the largest in the world and added
approximately US$1.1 billion in
equity value against a backdrop of a 10% fall in PGM prices.
Before joining Stillwater Mining Company, Mr. McMullen served as
a Principal at MRI Advisory AG, a private company focusing on the
development of metal and minerals projects in the Americas,
Europe and Africa. He was responsible for managing the
mining investments of the Principals and supervising the technical
due diligence for a variety of commodity-backed funding structures.
Following MRI Advisory transactions, he held the following
executive roles during that period: President and Chief Executive
Officer of New Chris Minerals Ltd. (the predecessor of GT Gold
Corp) from 2011 to 2016; Executive Chairman of Lachlan Star Ltd.
from 2007 to 2013; and Managing Director of Northern Iron Ltd. from
2007 to 2009 and President of Northern Iron Marketing AG until
June 2010.
Mr. McMullen holds a Bachelor of Science degree in geology from
Newcastle University in New South
Wales and pursued graduate studies in mineral economics at
Western Australian School of Mines.
Mr. McMullen's appointment is subject to governmental approval
of his authorization to work in Canada.
About Detour Gold
Detour Gold is a mid-tier gold producer in Canada that holds a 100% interest in the
Detour Lake mine, a long life large-scale open pit operation.
Detour Gold's shares trade on the Toronto Stock Exchange under the
trading symbol DGC.
For further information, please contact:
Bill Williams,
Interim CEO
|
Laurie Gaborit, VP
Investor
Relations
|
Tel:
416-304-0800
|
Tel:
416-304-0581
|
Detour Gold Corporation, Commerce Court West, 199 Bay Street,
Suite 4100, P.O. Box 121, Toronto,
Ontario M5L 1E2
SOURCE Detour Gold