Detour Gold, Touted As A Takeover Target, Edges Up As It Appoints A New CEO Following Shareholder Revolt

Global measured and indicated mineral resources of 20.5 million ounces (inclusive of mineral reserves)

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Detour Gold, Touted As A Takeover Target, Edges Up As It Appoints A New CEO Following Shareholder Revolt

posted on Jan 03, 2019 10:04AM

2019-01-03 09:59:28 AM ET (MT Newswires)

09:59 AM EST, 01/03/2019 (MT Newswires) -- Detour Gold was up 1% on Thursday appointed board member Bill Ferguson as its interim chief executive as it reorganizes its operations following the ouster of the company's board and management last month.

The company, which is being touted as a potential takeover target by the newly merged Barrick Gold (ABX.TO) and others, said its search for a permanent chief executive continues but it is confident Ferguson will be good hands until a new CEO is found.

"The Board is confident that Mr Williams will provide proven experience, expert skills and competent guidance for the company during the transition period between now and the appointment of a new CEO," Detour said in a release.

Shares in the company, up 7.6% since shareholders tossed out management in mid-December, were last seen up $0.11 to $11.86 on the Toronto Stock Exchange, at the low end of its intraday range of $11.82 to $12.15.