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Detour Gold searches for new boss

Gerald Panneton has resigned as president and CEO of Detour Gold. Pual Martin, the company's chief financial officer, will serve as an interim capacity. The move is effective immediately.
Northern Ontario Business Staff
Detour-Gold-Gerald-Panneton-(left)_Cropped
Detour Gold's outgoing president Gerald Panneton (left) and COO Pierre Beaudoin.

Gerald Panneton has resigned as president and CEO of Detour Gold.

Pual Martin, the company's chief financial officer, will serve as an interim capacity.

The move is effective immediately.

“We all recognize the immense contribution Gerald has made to Detour Gold since 2006,” said board chair Michael Kenyon, in a Nov. 25 release.“I wish to extend our genuine appreciation for his dedicated service which has been instrumental in bringing Detour Gold from its early years as an exploration company, through the development of the Detour Lake gold mine and, ultimately, its achievement of commercial production on Sept. 1.”

Martin said mine optimization is on the collective minds of the company.

“Our near-term objectives are well defined and include finalizing the 2014 budget after we have had the benefit of seeing the results of the remainder of 2013.”

The Detour Lake open pit mine is 185 km northeast of the town of Cochrane in northeastern Ontario.

Proven and probable gold reserves are measured at 15.6 million ounces. The company intends to complete a reserve update in early 2014 followed by an updated NI-43-101.