NAG loses Lock, gains McFaul

NORTH American Gem’s director and chief financial officer Bruce Lock has resigned, and Doug McFaul has been appointed to the executive seat.
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Image courtesy of North American Gem.

Donna Schmidt

Lock’s resignation was effective October 1.

McFaul has 16 years of experience working with public market companies. He has also held senior management positions with several public firms.

NAG has had an active year to date. Last month, the operator announced it had filed eight state applications in Kentucky for exploration permits at its properties.

The company recently filed the coal exploration permits for the North American Gem No. 2 and No. 3 mines as well as the Swan Pond (NAG No. 3), Gilliam Hill South and Arkle Hollow leases with the Kentucky Department of Natural Resources.

In August, NAG said coal sales and shipping from its No. 2 surface and auger operation in Knox County, Kentucky, had begun.

Kentucky Mine Partners has been contracted to extract from the Blue Gem and Jellico seams at No. 2, with initial production estimates of 8000-10,000 tons per month combined.

In addition to coal production, NAG also has interests in molybdenum and other base metals in Canada.

The company is currently seeking to sell or establish a joint venture for its Louise Lake copper property so that it may focus on coal.