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VANCOUVER - Nevada King Gold Corp. (TSXV:NKG) (OTCQB:NKGFF), a $44.5 million market cap mining company, announced Thursday that shareholders approved changes to its board of directors and executive leadership during the company’s annual meeting. According to InvestingPro analysis, the company currently shows a weak financial health score, reflecting the challenging environment for junior miners.
John Sclodnick has been appointed as Chief Executive Officer, replacing Collin Kettell, who will remain on the board as Chairman. Jeff Stieber joins as Chief Financial Officer, succeeding Bassam Moubarak who has resigned.
Shareholders re-elected Kettell and William Hayden to the board, while adding new directors John Sclodnick and Michael Doolin. Former directors Paul Matysek and Craig Roberts did not stand for re-election.
Doolin brings over 35 years of mining industry experience, having previously served in executive roles at Karora Resources, Klondex Mines, and Silver Elephant Mining. He currently serves as Chief Operating Officer at Americas Gold and Silver Corporation and Culico Metals.
Stieber, a Certified Public Accountant in Nevada, has 19 years of finance experience across various mining companies including Hycroft Mining and Tahoe Resources. The leadership changes come as the company’s stock has declined approximately 51% year-to-date, with InvestingPro data showing significant trading volume averaging 230,000 shares daily over the past three months.
"I am excited to see John Sclodnick take over as CEO," said Kettell in the press release. "Over the past year, working closely with John has strengthened my confidence in his leadership."
Nevada King is focused on developing its Atlanta Gold Mine project in southeast Nevada, which contains a measured and indicated resource of 1,020,000 ounces of gold, according to the company’s NI 43-101 technical report.
Shareholders also approved the re-appointment of Davidson & Company as auditor and the renewal of the company’s stock option plan.
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