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Cabral Gold names Mark Smith executive chairman as Njegovan resigns

Smith is a veteran mining executive and longtime investment banker and analyst covering the sector
An empty boardroom
Chairman Don Njegovan is out

Cabral Gold Inc. (CVE:CBR) shook up its board of directors Monday, naming P. Market Smith as executive chairman and announcing the resignation of Don Njegovan

Smith has 20 years’ worth of experience working in the mining industry, including Cominco, before transitioning to the financial sector as a mining analysts with Marleau-Lemire, C.M. Oliver, First Associates, and Dundee Securities. Smith was also an investment banker with Dundee Securities, Stifel Nicolas, and M Partners.

WATCH: Cabral Gold's Cuiú Cuiú project 'has the potential to be a multi-million ounce system'

“We believe that [Mark Smith’s] deep technical and extensive capital markets experience will have a very positive impact on the growth of our company going forward, said CEO Alan Carter in a statement. “We look forward to working together with Mark and the team in realizing the enormous potential of the Cuiu Cuiu project in Brazil."

Smith has served on the PDAC technical committee responsible for the PDAC convention in Toronto, where he was a director until 2005.

The company said Smith will provide advice on technical, corporate, general and financial strategies, as well as planning and implementation.

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