Khan Resources Chairman Jim Doak found dead in Mongolia - report

Thu Apr 23, 2015 10:37pm EDT
 
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TORONTO, April 23 (Reuters) - Khan Resources Inc Chairman Jim Doak, a prominent figure in the Toronto financial industry, was found dead in a hotel room in Mongolia, the Globe and Mail reported on Thursday.

The company did not immediately respond to a request for comment on the report. The report said Doak, 59, had been in the country in his role as chairman of Khan.

Mongolia last month was ordered to pay about $100 million to Khan as compensation for cancelling its uranium licences in a long-awaited decision from an international tribunal.

Khan Resources took Mongolia to international arbitration four years ago after the government canceled its licences over the Dornod uranium project in 2009, handing the asset to Russia's ARMZ.

The Globe and Mail said Khan officials, including Doak, held talks this week with government representatives in Ulan Bator during which they demanded full payment of the award and vowed to take enforcement action.

According to a biography on Khan's website, Doak had been president and managing partner of Toronto-based Megantic Asset Management Inc and had previously held senior positions at ScotiaMcLeod Inc, First Marathon Securities Ltd. and McLeod Young Weir Ltd.

He had also served on various boards, including Cascades Inc . (Reporting by Jeffrey Hodgson; Editing by Michael Perry)