Navan Resources has announced that its finance director, Mr David Mongey, has resigned, with effect from last Wednesday. Mr Andrew Herald FCA, formerly a partner with KPMG, will act as chief financial officer pending the appointment of a new finance director.

Mr Mongey is to pursue other business interests in Ireland following his two-year tenure in the post. "The company regrets his decision to resign," Navan Resources stated yesterday.

Mr Mongey worked with a number of industries in South Africa, including Anglovaal, prior to joining Navan in 1995.

According to Navan Resources annual report for 1996, Mr Mongey has 50,000 share options exercisable from tomorrow, and 50,000 exercisable on January 16th, 1999.