Yesterday, NovaGold Resources announced that it has appointed David Ottewell as its Vice President and Chief Financial Officer. Mr. Ottewell will assume the role as of November 13, 2012, where he will oversee all aspects of NovaGold's financial management. Mr. Ottewell has a wide frame of reference in corporate financial matters and tremendous experience and understanding of the mining industry from the ground up.
With over 25 years in the mining industry, Mr. Ottewell is a highly accomplished financial executive who currently serves as Vice President and Controller at the Newmont Mining Corporation, one of the world's largest gold producers. In his time with Newmont, Mr. Ottewell led the global accounting functions, ensuring consistent delivery and quality control in external reporting to shareholders and regulators in the U.S. and Canada.
Prior to Newmont, Mr. Ottewell spent 16 years with Echo Bay Mines Ltd., a prominent precious metals mining company with multiple operations in the Americas. He started his accounting career at Ernst and Whinney, a major accounting firm. Mr. Ottewell holds a Bachelor of Commerce degree from the University of Alberta and is a member of the Canadian Institute of Chartered Accountants.
Gregory Lang, NovaGold's President and Chief Executive Officer, remarked, "David Ottewell has extensive and diverse experience in all facets of the financial management of a precious metals company, from mine operations to executive corporate financial management of one of the world"s premier gold producers. David exemplifies the high level of professionalism and financial integrity we have sought to advance the development of Donlin Gold, a uniquely attractive North American asset which, when in production, is projected to emerge as the world"s largest single gold producing mine. With David"s appointment, NOVAGOLD will not only have brought on an excellent professional with a track record of success but will have completed the assembly of a seasoned senior management team of industry leaders with proven skills to move Donlin Gold up the value chain through permitting, a construction decision and beyond."
With the appointment of Mr. Ottewell, Elaine Sanders, NovaGold's current Vice President and Chief Financial Officer, will become the Chief Financial Officer for NovaCopper, Inc., a base-metals exploration company focused on exploring and developing Alaska's Ambler mining district, one of the richest and most-prospective known copper districts in the world. NovaCopper is a separate and independent company, formed as a result of NovaGold's re-organization which was completed in May 2012.
"During her nine-year tenure, Elaine has made significant contributions to NovaGold," added Mr. Lang. "We thank her for her successful financial leadership as the Company transitioned from an explorer to a developer of major mining projects in the US and Canada. We all look forward to Elaine"s continued contribution to NovaCopper as it carries out its highly successful and exciting exploration program at the Upper Kobuk Mineral Projects in Alaska."
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