Renaud Adams Named CEO Of New Gold
 |
| Renaud Adams |
(Kitco News) -Renaud Adams has beennamed the new president and chief executive officer of New Gold Inc. (TSX, NYSE American: NGD),the company reported Wednesday.
He succeeds RaymondThrelkeld, a director of New Gold who stepped in and led the company since hisappointment in May. Adams has also been appointed to the New Gold board ofdirectors, while Threlkeld resigned, the company said.
Adams has 25 years ofexperience in the mining industry. He was the president and CEO of RichmontMines Inc. from 2014 until the sale of the company to Alamos Gold in November2017. During his time at Richmont, production at Richmont’s principal mine morethan doubled, mineral reserves more than tripled, and costs were reduced.
Previously, Adams waschief operating officer at Primero Mining Corp., and prior to that he was withIamgold Corp. as general manager of the Rosebel mine in Suriname, and thensenior vice president for Americas operations.
Ian Pearce, New Gold’sboard chair, says Adams’ “extensive experience in the gold sector andoperational background will be of tremendous benefit, and his proven trackrecord of delivering on production and costs will be invaluable as we advancethe company’s corporate strategy.”
Pearce added thatThrelkeld is supporting the new CEO during the transition.
“l look forward to thesignificant opportunities we have as we continue to improve operationalperformance at Rainy River, increase cash flow at all operations, and createvalue for our shareholders through a disciplined approach to both productivityand value creation from our portfolio of long-life assets,” Adams said.
New Gold is anintermediate gold-mining company that produced 108,550 ounces of gold and 20.4million pounds of copper in the second quarter. Full-year 2018 gold guidance isfor 415,000 to 480,000 gold ounces.
The company has fourproducing mines: New Afton and Rainy River in Canada, Mesquite in the UnitedStates and Cerro San Pedro in Mexico. New Gold also owns the Blackwater projectin Canada.
By Allen SykoraFor Kitco News
Follow @AllenSykora
asykora@kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.