NovaGold (NG) Appoints Industry Veteran Ali Erfan to Board

NovaGold Resources Inc. (NYSE:NG) is one of the best stocks to buy amid gold rally. On July 21, the company announced the appointment of Ali Erfan to its Board of Directors, following the departure of long-serving director Diane Garrett.

“I am very pleased to welcome Ali Erfan to NOVAGOLD’s Board,” said Dr. Thomas S. Kaplan, NOVAGOLD’s Chairman. “Mr. Erfan brings a wealth of knowledge and experience as a long-standing Vice-Chairman of The Electrum Group, investment adviser to Electrum Strategic Resources, which is the Company’s largest shareholder and a global leader in precious metals mining, with multi-billion-dollar investments and operations in North America. I also wish to extend my deepest appreciation to Diane Garrett for her valued guidance and significant contributions to the Company over her seven years of committed service.”

Erfan’s resume spans capital markets and energy sectors. He co-founded Leor Energy, sold to Encana for $2.6B, and held board roles at Gatos Silver, Gabriel Resources, and two privately held silver ventures. His previous roles include senior partner at 3i Group and investor in multiple tech firms with global IPO or M&A success. Erfan holds degrees from Oxford and London Business School, and is a Kauffman Fellow.

NovaGold Resources Inc. (NYSE:NG) is a gold exploration and development company. It owns a 50% interest in the Donlin Gold project in Alaska, USA, which is considered one of the world’s largest undeveloped gold deposits. Donlin Gold is designed to be a high-grade, open-pit operation with significant long-term production potential.

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Disclosure: None. This article is originally published at Insider Monkey.