In a significant leadership restructuring announced today, New Found Gold Corp. has appointed former Newfoundland and Labrador Premier Dr. Andrew Furey to its board of directors while making key executive changes in preparation for advancing toward production.
The Vancouver-based gold exploration company, which trades on both the TSX Venture Exchange (TSX-V: NFG) and NYSE American (NYSE-A: NFGC), has strengthened its leadership team with three strategic appointments that bring substantial politi
...
In a significant leadership restructuring announced today, New Found Gold Corp. has appointed former Newfoundland and Labrador Premier Dr. Andrew Furey to its board of directors while making key executive changes in preparation for advancing toward production.
The Vancouver-based gold exploration company, which trades on both the TSX Venture Exchange (TSX-V: NFG) and NYSE American (NYSE-A: NFGC), has strengthened its leadership team with three strategic appointments that bring substantial political, financial, and operational expertise to the organization.
Dr. Furey joins as an independent director, bringing valuable government relations experience at a critical juncture for the company. During his tenure as Premier, he led major infrastructure initiatives including the Churchill Falls hydro-electrical development and successfully negotiated a $5.2 billion rate mitigation agreement with the federal government. His background also includes founding Team Broken Earth, a medical charity where he managed over 1,000 volunteers.
“It is with great pleasure I welcome Dr. Furey to the Board of Directors,” said Paul Andre Huet, Chairman of New Found Gold. “As past Premier of NL, Dr. Furey brings a tremendous depth of knowledge and experience to the Company at a pivotal time, as we advance our path to production.”
Alongside the board appointment, the company has named Hashim Ahmed as Chief Financial Officer. Ahmed brings 25 years of mining finance experience, most recently serving as Executive Vice President and CFO at Mandalay Resources Corp. until its acquisition by Alkane Resources Ltd. His career includes CFO positions at Nova Royalty Corp. and Jaguar Mining Inc., plus seven years at Barrick Gold Corp. in progressively senior finance roles.
Ahmed’s background includes international operational exposure in South America and professional credentials established at PricewaterhouseCoopers LLP and Ernst & Young LLP. This extensive financial leadership experience positions him well to guide New Found Gold’s financial strategy during its development phase.
The third key appointment involves the promotion of Robert Assabgui from Study Manager to Chief Operating Officer. Having joined New Found Gold in early 2025 as Study Manager, Assabgui brings substantial operational expertise from his previous roles.
Assabgui’s career began at Inco Ltd. (later Vale Canada Ltd.), where he rose to Director of Mines with responsibility for six mines, a concentrator, and mines technical services. At Hudbay Minerals Inc., as Vice President of Technical Services and later Vice President of the Manitoba Business Unit, he managed significant operational transitions, including positioning Snow Lake operations to become a primary gold producer.
Before joining New Found Gold, Assabgui served as Study Manager for Reunion Gold Corporation at the Oko West Project until its acquisition by G Mining Ventures Corp. in 2024. He holds a Bachelor of Engineering degree in Mining and Mineral Engineering from McGill University.
These appointments come as part of a broader management transition that includes Vijay Mehta stepping down as a director and Michael Kanevsky transitioning from his CFO role to assist with the handover process.
“On behalf of the Board of Directors and New Found Gold’s senior leadership team, I would also like to thank Vijay Mehta and Michael Kanevsky for their hard work and dedication to the Company over the past several years,” Huet acknowledged.
The timing and coordinated nature of these appointments suggest a strategic realignment rather than reactive changes, with New Found Gold positioning itself for its next development phase. The company appears to be transitioning from earlier-stage exploration toward development and production planning, evidenced by the appointment of executives with significant production operations experience.
For the gold mining sector, these moves reflect a broader industry trend where companies advancing toward production typically enhance their financial management, operational expertise, and stakeholder relationship capabilities. Dr. Furey’s government experience may prove particularly valuable given the increasing importance of community and governmental engagement in mining project advancement.
Investors will likely view these appointments as signals of New Found Gold’s serious intentions to advance its Canadian gold assets toward production. The caliber of the appointed individuals, particularly Dr. Furey’s high-profile government background, suggests the company may be preparing for significant developments that require enhanced stakeholder management and regulatory navigation.
While leadership transitions can present integration challenges in the near term, the strategic enhancement of capabilities across governance, finance, and operations positions New Found Gold for potential growth. The ultimate success of these appointments will depend on execution of the company’s development strategy amid broader market conditions affecting gold sector investments.
As gold prices remain historically strong, companies with advancing projects and strengthened management teams like New Found Gold may attract increased investor attention in a sector experiencing ongoing consolidation.
Top 50
