Apple, Inc. (NASDAQ: AAPL), NovaGold Resources Inc. (NYSE: NG), Johnson & Johnson (NYSE: JNJ), Cablevision (NYSE: CVC) and Scripps Networks Interactive, Inc. (NYSE: SNI) had their price targets adjusted by analysts.
Apple, Inc. (AAPL) had its price target raised by Citigroup (NYSE:C) to $500.00. They have a “Buy” rating on the company.
Johnson & Johnson (JNJ) had its price target lowered by UBS AG (NYSE:UBS) to $72.00. They have a “Buy” rating on the company.
Cablevision (CVC) had its price target lowered by Bank of America NYSE:BAC) from $22.00 to $27.00. They have a “Buy” rating on the company.
NovaGold Resources Inc. (NG) had its price target lowered by RBC Capital from $16.00 to $11.00. They have a “Sector Perform” rating on the company.
Scripps Networks Interactive, Inc. (SNI) had its price target lowered by Bank of America from $56.00 to $49.00. They have a “Neutral” rating on the company.
Showing posts with label NovaGold Resources. Show all posts
Showing posts with label NovaGold Resources. Show all posts
Monday, October 17, 2011
Friday, June 10, 2011
Barrick (ABX) (GG) (IAG) (EGO) (KGC) (NEM) Rise on Higher Gold Future Prices
IAMGOLD Corporation (NYSE:IAG), Eldorado Gold Corporation (NYSE:EGO), Kinross Gold (NYSE:KGC), Newmont (NYSE:NEM), Goldcorp (NYSE:GG) and Barrick Gold (NYSE:ABX) all closed in positive territory Thursday as gold futures continued to rise.
Gold futures for August delivery climbed $4 to $1,547.70 an ounce. Silver prices were also up, settling at $37.32 an ounce, a 2 percent gain.
NovaGold Resources Inc. (AMEX:NG) was among the few miners closing in negative territory.
The job market in the U.S. continues on its disastrous journey, as the number of people applying for unemployment benefits for the first time rose to 427,000 last week. Economists had been looking for the number to drop to 419,000. The number applying for jobless benefits rose from the prior week as well, being upwardly revised from 422,000 to 426,000.
Gold was also the benefactor of the decision by the European Central Bank in keeping its interest rate unchanged, although it hinted it may raise interest rates in July.
The European Central Bank kept its key interest rate at 1.25 percent. The Bank of England left its main interest rate unchanged at 0.50 percent, a record low.
Kinross Gold closed Thursday at $15.63, up $0.54, or 3.58 percent. Eldorado Gold Corporation closed at $14.46, gaining $0.39, or 2.77 percent. IAMGOLD Corporation ended the session at $20.97, rising $0.59, or 2.89 percent. Goldcorp closed at $47.59, jumping $0.57, or 1.21 percent. Barrick Gold ended the day at $44.40, climbing $0.08, or 0.18 percent. Newmont closed at $52.92, increasing $0.58, or 1.11 percent.
Gold futures for August delivery climbed $4 to $1,547.70 an ounce. Silver prices were also up, settling at $37.32 an ounce, a 2 percent gain.
NovaGold Resources Inc. (AMEX:NG) was among the few miners closing in negative territory.
The job market in the U.S. continues on its disastrous journey, as the number of people applying for unemployment benefits for the first time rose to 427,000 last week. Economists had been looking for the number to drop to 419,000. The number applying for jobless benefits rose from the prior week as well, being upwardly revised from 422,000 to 426,000.
Gold was also the benefactor of the decision by the European Central Bank in keeping its interest rate unchanged, although it hinted it may raise interest rates in July.
The European Central Bank kept its key interest rate at 1.25 percent. The Bank of England left its main interest rate unchanged at 0.50 percent, a record low.
Kinross Gold closed Thursday at $15.63, up $0.54, or 3.58 percent. Eldorado Gold Corporation closed at $14.46, gaining $0.39, or 2.77 percent. IAMGOLD Corporation ended the session at $20.97, rising $0.59, or 2.89 percent. Goldcorp closed at $47.59, jumping $0.57, or 1.21 percent. Barrick Gold ended the day at $44.40, climbing $0.08, or 0.18 percent. Newmont closed at $52.92, increasing $0.58, or 1.11 percent.
Thursday, June 9, 2011
Yamana (AUY) (NG) (AEM) (AU) (GFI) Close Down as Gold Prices Pressured
Agnico-Eagle (NYSE:AEM), AngloGold Ashanti (NYSE:AU), Gold Fields (NYSE:GFI), Yamana Gold (NYSE:AUY) and NovaGold Resources Inc. (AMEX:NG) all closed down in trading Wednesday as a stronger dollar slightly pressured precious metals and base metals.
Palladium closed down and platinum settled flat.
Concerns over the sovereign debt crisis in Europe outweighed U.S. dollar concerns, putting downward pressure on gold and other metals, as the greenback gained against the euro.
The most actively traded gold contract, for August delivery, dropped $5.30, or 0.3 percent, to settle Wednesday at $1538.70 an ounce on the Comex division of the New York Mercantile Exchange.
Silver for July delivery was down 1.2 percent to settle at $36.62 an ounce.
Overall, expectations are market conditions will continue to favor gold and silver prices, pushing them higher over the next several months.
NovaGold closed Wednesday at $10.34, falling $0.71, or 6.43 percent. Yamana ended the session at $11.76, dropping $0.26, or 2.16 percent. Gold Fields closed at $14.62, down $0.36, or 2.40 percent. AngloGold Ashanti ended the day at $43.08, declining $0.79, or 1.80 percent. Agnico-Eagle closed at $61.49, losing $2.28, or 3.58 percent.
Palladium closed down and platinum settled flat.
Concerns over the sovereign debt crisis in Europe outweighed U.S. dollar concerns, putting downward pressure on gold and other metals, as the greenback gained against the euro.
The most actively traded gold contract, for August delivery, dropped $5.30, or 0.3 percent, to settle Wednesday at $1538.70 an ounce on the Comex division of the New York Mercantile Exchange.
Silver for July delivery was down 1.2 percent to settle at $36.62 an ounce.
Overall, expectations are market conditions will continue to favor gold and silver prices, pushing them higher over the next several months.
NovaGold closed Wednesday at $10.34, falling $0.71, or 6.43 percent. Yamana ended the session at $11.76, dropping $0.26, or 2.16 percent. Gold Fields closed at $14.62, down $0.36, or 2.40 percent. AngloGold Ashanti ended the day at $43.08, declining $0.79, or 1.80 percent. Agnico-Eagle closed at $61.49, losing $2.28, or 3.58 percent.
Thursday, June 2, 2011
NovaGold (NG) (GG) (NEM) (GFI) (ABX) Lag Rising Gold Prices
NovaGold Resources Inc. (AMEX:NG), Goldcorp (NYSE:GG), Newmont Mining (NYSE:NEM), Gold Fields (NYSE:GFI) and Barrick Gold (NYSE:ABX) all closed down Wednesday, lagging behind rising gold prices responding to a fragile and weak American economy, as well as weak manufacturing numbers from China and the EU.
Gold and silver went in opposite directions on Wednesday after an employment report from the ADP said an anemic 38,000 jobs were added in May, while the figure for April was downwardly revised by 2,000.
Weak manufacturing numbers from China, the U.S. and the European Union pressed on silver, although it did gain some back as the trading day advanced.
News that Germany may get behind another bailout of the insolvent Greece was also considered a positive by the market, and could put some pressure on gold if the €60 billion expected to be lent to Greece is put into effect.
The realization the United States is in fact not in a recovery is counteracting the positive news out of Europe, and will probably be a stronger determining factor in gold and silver prices than any other consideration.
Gold for August delivery climbed $6.40 to $1,543.20 an ounce. Silver for July delivery was down 61.1 cents to settle at $37.694 an ounce.
Kinross Gold was able to close slightly in positive territory on Wednesday. Most of the major gold miners were trading up after hours.
Barrick closed at $47.28, falling $0.48, or 1.01 percent. NovaGold ended the session at $11.23, dropping $0.23, or 2.01 percent. Newmont closed at $55.67, down $0.90, or 1.59 percent. Goldcorp was at $49.46, declining $0.61, or 1.22 percent. Gold Fields ended at $16.05, falling $0.39, or 2.37 percent.
Gold and silver went in opposite directions on Wednesday after an employment report from the ADP said an anemic 38,000 jobs were added in May, while the figure for April was downwardly revised by 2,000.
Weak manufacturing numbers from China, the U.S. and the European Union pressed on silver, although it did gain some back as the trading day advanced.
News that Germany may get behind another bailout of the insolvent Greece was also considered a positive by the market, and could put some pressure on gold if the €60 billion expected to be lent to Greece is put into effect.
The realization the United States is in fact not in a recovery is counteracting the positive news out of Europe, and will probably be a stronger determining factor in gold and silver prices than any other consideration.
Gold for August delivery climbed $6.40 to $1,543.20 an ounce. Silver for July delivery was down 61.1 cents to settle at $37.694 an ounce.
Kinross Gold was able to close slightly in positive territory on Wednesday. Most of the major gold miners were trading up after hours.
Barrick closed at $47.28, falling $0.48, or 1.01 percent. NovaGold ended the session at $11.23, dropping $0.23, or 2.01 percent. Newmont closed at $55.67, down $0.90, or 1.59 percent. Goldcorp was at $49.46, declining $0.61, or 1.22 percent. Gold Fields ended at $16.05, falling $0.39, or 2.37 percent.
Friday, May 27, 2011
Newmont (NEM) (GG) (ABX) (NG) (EGO) Trade Higher as Gold Jumps
A weakened U.S. dollar and dismal data about an 11.6 percent drop in pending home sales has offered gold and silver prices support today, with major miners like Newmont Gold (NYSE:NEM), Goldcorp (NYSE:GG), Barrick Gold (NYSE:ABX), Novagold (NYSE:NG) and Eldorado Gold (NYSE:EGO) all trading in positive territory.
Gold for June delivery was up $10.60 to $1,533.40 an ounce at the Comex division of the New York Mercantile Exchange. It has traded in a range of $1,518.40 to $1,535.50.
Silver prices were climbing 64 cents to $37.97 an ounce while the U.S. dollar index fell to $75.08, losing 0.66 percent.
Kitco.com senior analyst Jon Nadler said he believes thinks gold will have to wait to gain momentum until after Memorial Day weekend. "I think you're looking at bargain hunters in the $1,480-$1,500 range in gold but again we have to overcome decisively the $1,530-$1,540 area until we can talk about higher levels."
Eldorado Gold was trading at $16.07, gaining $0.26, or 1.64 percent, as of 12:36 PM EDT. NovaGold was at $11.53, up $0.24, or 2.17 percent. Newmont Mining was trading at $56.62, rising $0.79, or 1.42 percent. Goldcorp was at $50.19, climbing $0.26, or 0.52 percent. Barrick Gold was at $47.63, jumping $0.46, or 0.98 percent.
Gold for June delivery was up $10.60 to $1,533.40 an ounce at the Comex division of the New York Mercantile Exchange. It has traded in a range of $1,518.40 to $1,535.50.
Silver prices were climbing 64 cents to $37.97 an ounce while the U.S. dollar index fell to $75.08, losing 0.66 percent.
Kitco.com senior analyst Jon Nadler said he believes thinks gold will have to wait to gain momentum until after Memorial Day weekend. "I think you're looking at bargain hunters in the $1,480-$1,500 range in gold but again we have to overcome decisively the $1,530-$1,540 area until we can talk about higher levels."
Eldorado Gold was trading at $16.07, gaining $0.26, or 1.64 percent, as of 12:36 PM EDT. NovaGold was at $11.53, up $0.24, or 2.17 percent. Newmont Mining was trading at $56.62, rising $0.79, or 1.42 percent. Goldcorp was at $50.19, climbing $0.26, or 0.52 percent. Barrick Gold was at $47.63, jumping $0.46, or 0.98 percent.
Wednesday, September 1, 2010
NovaGold (AMEX:NG) Names Gerry McConnell New Chairman
NovaGold Resources Inc. (AMEX:NG) announced it has named Gerry McConnell as the new chairman of the board.
Chief executive officer and president Rick Van Nieuwenhuyse remains in his position, and continues on as a member of the board, which includes the feisty and interesting Marc Faber.
Van Nieuwenhuyse said on the appointment of McConnell, "I am pleased that Gerry has accepted this appointment as Chairman of the Board. Gerry's legal background and extensive knowledge of the mining business and our projects makes him the ideal candidate to manage the Board activities that help guide the company. NovaGold's Board of Directors and employees are committed to adding value for shareholders as we advance our world-class portfolio of projects."
NovaGold's assets are all based in North America, and include the Donlin Creek project in Alaska and the Galore project in British Columbia.
Barrick Gold (NYSE:ABX) is a partner in Donlin Creek, while Teck Resources (NYSE:TCK) is a partner in Galore.
Chief executive officer and president Rick Van Nieuwenhuyse remains in his position, and continues on as a member of the board, which includes the feisty and interesting Marc Faber.
Van Nieuwenhuyse said on the appointment of McConnell, "I am pleased that Gerry has accepted this appointment as Chairman of the Board. Gerry's legal background and extensive knowledge of the mining business and our projects makes him the ideal candidate to manage the Board activities that help guide the company. NovaGold's Board of Directors and employees are committed to adding value for shareholders as we advance our world-class portfolio of projects."
NovaGold's assets are all based in North America, and include the Donlin Creek project in Alaska and the Galore project in British Columbia.
Barrick Gold (NYSE:ABX) is a partner in Donlin Creek, while Teck Resources (NYSE:TCK) is a partner in Galore.
John Paulson's NovaGold (NYSE:NG) Stake at 9.1 Percent
John Paulson now owns 20,181,818 shares of NovaGold Resources Inc. (NYSE:NG), according to a 13D filing he just filed.
Total cost for the shares was listed at $113,003,059, which equals about $5.59 a share. That represents a 9.1 percent stake in the gold miner.
This isn't an increase in the number of shares, as it is the same as the holdings in the last two quarters, back to the period ending March 31, 2010.
Primarily a gold mining company, NovaGold also produces ancillary metals like silver, copper and zinc.
NovaGold's mining assets are located in North America.
Total cost for the shares was listed at $113,003,059, which equals about $5.59 a share. That represents a 9.1 percent stake in the gold miner.
This isn't an increase in the number of shares, as it is the same as the holdings in the last two quarters, back to the period ending March 31, 2010.
Primarily a gold mining company, NovaGold also produces ancillary metals like silver, copper and zinc.
NovaGold's mining assets are located in North America.
Monday, August 30, 2010
NovaGold (AMEX:NG) Expanding Financing Search
After having a cash infusion of $175 million from combined investments from Paulson & Co. Inc. and Quantum Partners Ltd., it put NovaGold (AMEX:NG) (TSE:NG) in the enviable position of having a two-year cushion to work with.
But aren't resting on that by any means, as estimates for their part in the development of Galore Creek copper-silver-gold mine, which they're partnering with Teck Resources (NYSE:TCK), and on Donlin Creek, which they're partnering with Barrick Gold Corp. (NYSE:ABX), comes in at about $4 billion.
When you consider the estimated revenue for NovaGold is $2 million this year, it's incredible to look at the numbers being thrown at them.
This isn't of about where they are, but where they're going to be, and once the feasibility studies are completed, we'll have a better look. But the large amount of resources at just these two mines are staggering, and will generate a flow of revenue for years.
For example, at Galore Creek, there is an indicated resource of close to 9 billion pounds of copper and 7.3 million ounces of gold. By the time these mines begin operating, assuming they do, it will be at a time when demand will continue to be high; for sure for copper, with gold being less certain depending on when production begins.
At earliest production at Galore isn't expected to launch until 2016, and most of the time they won't meet those dates, so it could be assumed to be even later than that.
NovaGold also has significant projects in Argentina, with their San Roque project, and in Alaska with the Ambler project, which may contain one of the largest copper-zinc deposits in the world.
They have a bright future, but it will be an expensive one to develop, and that's why NovaGold Chief Executive Officer Rick Van Nieuwenhuyse has been reaching out to Asia to woo investors in the company.
In exchange for investment, NovaGold is offering a piece of the metal production, which is a huge attractant to the Asian region who will be building out infrastructure for years.
Even in this recession, metal will be in demand, and is expected to surge again whenever a real recovery begins. Now it's a race to get the needed financing to supply the hungry markets.
With the demand out there, a significant number of interested parties should emerge, and NovaGold does have some time to find the best partners.
But aren't resting on that by any means, as estimates for their part in the development of Galore Creek copper-silver-gold mine, which they're partnering with Teck Resources (NYSE:TCK), and on Donlin Creek, which they're partnering with Barrick Gold Corp. (NYSE:ABX), comes in at about $4 billion.
When you consider the estimated revenue for NovaGold is $2 million this year, it's incredible to look at the numbers being thrown at them.
This isn't of about where they are, but where they're going to be, and once the feasibility studies are completed, we'll have a better look. But the large amount of resources at just these two mines are staggering, and will generate a flow of revenue for years.
For example, at Galore Creek, there is an indicated resource of close to 9 billion pounds of copper and 7.3 million ounces of gold. By the time these mines begin operating, assuming they do, it will be at a time when demand will continue to be high; for sure for copper, with gold being less certain depending on when production begins.
At earliest production at Galore isn't expected to launch until 2016, and most of the time they won't meet those dates, so it could be assumed to be even later than that.
NovaGold also has significant projects in Argentina, with their San Roque project, and in Alaska with the Ambler project, which may contain one of the largest copper-zinc deposits in the world.
They have a bright future, but it will be an expensive one to develop, and that's why NovaGold Chief Executive Officer Rick Van Nieuwenhuyse has been reaching out to Asia to woo investors in the company.
In exchange for investment, NovaGold is offering a piece of the metal production, which is a huge attractant to the Asian region who will be building out infrastructure for years.
Even in this recession, metal will be in demand, and is expected to surge again whenever a real recovery begins. Now it's a race to get the needed financing to supply the hungry markets.
With the demand out there, a significant number of interested parties should emerge, and NovaGold does have some time to find the best partners.
Tuesday, August 24, 2010
Goldcorp (NYSE:GG), Novagold (NYSE:NG), IAMGOLD (NYSE:IAG) Down as Gold Prices Level
Gold prices dropped slightly Monday, with gold miners like Goldcorp (NYSE:GG), Novagold (NYSE:NG), IAMGOLD (NYSE:IAG) falling disportionately with them, along with many other miners.
Gold for December delivery on Monday fell 30 cents to $1,228.50 an ounce at the Comex division of the New York Mercantile Exchange. Volume was light on the day. Spot gold dropped $1 dollar also in the session.
Goldcorp ended the trading day at $41.09, falling $0.80, or 1.91 percent.
Iamgold finished at $17.68, losing $0.41, or 2.27 percent.
Novagold closed at $6.58, down $0.21, or 3.09 percent.
Much of this came from temporary euphoria over mergers and acquisitions interest, which provided a temporary burst of optimism to the markets, but which is already starting to be discounted as limited in scope and in no way will expand to numerous companies.
Gold will probably continue to take a breather before taking off in the next couple of weeks, depending on the economic data coming out, which continues to be very weak.
Gold for December delivery on Monday fell 30 cents to $1,228.50 an ounce at the Comex division of the New York Mercantile Exchange. Volume was light on the day. Spot gold dropped $1 dollar also in the session.
Goldcorp ended the trading day at $41.09, falling $0.80, or 1.91 percent.
Iamgold finished at $17.68, losing $0.41, or 2.27 percent.
Novagold closed at $6.58, down $0.21, or 3.09 percent.
Much of this came from temporary euphoria over mergers and acquisitions interest, which provided a temporary burst of optimism to the markets, but which is already starting to be discounted as limited in scope and in no way will expand to numerous companies.
Gold will probably continue to take a breather before taking off in the next couple of weeks, depending on the economic data coming out, which continues to be very weak.
Monday, August 16, 2010
Teck Resources (NYSE:TCK) Gets Option on GJ Copper-Gold Project
Teck Resources (NYSE:TCK), which already works with NovaGold Resources Inc. (AMEX:NG) with the Galore Creek project in the "golden triangle" of British Columbia in Canada, has now acquired an option on another property in the area, the GJ copper-gold project.
The GJ property has 43-101 compliant measured and indicated resource of about 1.8 million ounces of gold, and a huge 1 billion pounds of copper.
Per the option agreement, Teck will have the power to gain a majority stake in the property, which it is partnering with NGEx Resources Inc. (TSE:NGQ) on.
CEO and president of NGEx, Wojtek Wodzicki, said about the deal, “Teck brings to the partnership a combination of exploration and engineering skills, financial strength and long experience operating in B.C. that has the potential to add great value for our shareholders."
NGEx Resources is the exploration unit of the Lundin Group.
Teck can earn a majority interest in the property if it spends $44 million on it by 2020, which would give them a 75 percent stake.
The GJ property has 43-101 compliant measured and indicated resource of about 1.8 million ounces of gold, and a huge 1 billion pounds of copper.
Per the option agreement, Teck will have the power to gain a majority stake in the property, which it is partnering with NGEx Resources Inc. (TSE:NGQ) on.
CEO and president of NGEx, Wojtek Wodzicki, said about the deal, “Teck brings to the partnership a combination of exploration and engineering skills, financial strength and long experience operating in B.C. that has the potential to add great value for our shareholders."
NGEx Resources is the exploration unit of the Lundin Group.
Teck can earn a majority interest in the property if it spends $44 million on it by 2020, which would give them a 75 percent stake.
Monday, March 22, 2010
Barrick Gold (TSE:ABX) Increases Reserve Estimates at Donlin Creek
Barrick Gold Donlin Creek Gold Project
Barrick Gold (TSE:ABX), which holds a 50 percent stake in the Donlin Creek Gold Project with NovaGold Resources (TSE:NG), has increased the reserve/resource estimates for its Donlin Creek Gold Project by 4.3 million ounces.
The amount of reserve/resource of gold at the site now stands at an estimated 33.6 million ounces.
Barrick Gold's portion of the gold reserves, along with NovaGold's, are 16.8 million ounces each.
Barrick Gold (TSE:ABX), which holds a 50 percent stake in the Donlin Creek Gold Project with NovaGold Resources (TSE:NG), has increased the reserve/resource estimates for its Donlin Creek Gold Project by 4.3 million ounces.
The amount of reserve/resource of gold at the site now stands at an estimated 33.6 million ounces.
Barrick Gold's portion of the gold reserves, along with NovaGold's, are 16.8 million ounces each.
Thursday, March 11, 2010
NovaGold Resources (AMEX:NG) Hold Any Gold?
NovaGold Resources Gold Reserves
It's hard to tell what it is that's driving up the share price of NovaGold Resources (AMEX:NG), as there seems to be nothing to indicate the company has much if anything in reserves, as noted by the difference in classification between them and Barrick Gold (NYSE:ABX) over their jointly owned Donlin Creek property.
NovaGold claims 60 percent of the resources at Donlin are reserves, while Barrick lists the property as having no reserves. Someone's wrong there.
NovaGold has had a scandalous past, and taking into consideration they haven't had positive revenue and continue in negative cash flow from 2004 to 2009, you have to wonder what's going on there and if it's a shell company with no assets.
NovaGold Resources Gold Reserves
It's hard to tell what it is that's driving up the share price of NovaGold Resources (AMEX:NG), as there seems to be nothing to indicate the company has much if anything in reserves, as noted by the difference in classification between them and Barrick Gold (NYSE:ABX) over their jointly owned Donlin Creek property.
NovaGold claims 60 percent of the resources at Donlin are reserves, while Barrick lists the property as having no reserves. Someone's wrong there.
NovaGold has had a scandalous past, and taking into consideration they haven't had positive revenue and continue in negative cash flow from 2004 to 2009, you have to wonder what's going on there and if it's a shell company with no assets.
NovaGold Resources Gold Reserves
Tuesday, March 9, 2010
NovaGold Resources Inc. (TSE:NG) Completes Stock Offering
NovaGold Resources Common Shares Offering
NovaGold Resources Inc. (TSE:NG) announced it has completed and closed it common share stock offering, raising $100 million ($99,999,999) from the $5.50 a share they received for them.
Paulson & Co. bought the shares in a non-brokered deal. The financing will officially close on March 11.
NovaGold said they'll use the capital primarily for development and exploration of several of their properties, Ambler property, Donlin Creek, Galore Creek and Rock Creek.
Some of the funds could be used for future acquisitions by the company as well.
NovaGold Resources Common Shares Offering
NovaGold Resources Inc. (TSE:NG) announced it has completed and closed it common share stock offering, raising $100 million ($99,999,999) from the $5.50 a share they received for them.
Paulson & Co. bought the shares in a non-brokered deal. The financing will officially close on March 11.
NovaGold said they'll use the capital primarily for development and exploration of several of their properties, Ambler property, Donlin Creek, Galore Creek and Rock Creek.
Some of the funds could be used for future acquisitions by the company as well.
NovaGold Resources Common Shares Offering
Monday, February 15, 2010
NovaGold Resources (AMEX:NG) Uncertain Future
NovaGold Resources
NovaGold Resources (AMEX:NG), like its gold mining cousins, must be considered risky investments, and those sinking their money into them should be sure they are able to lose it, as the valuations of the companies are highly subjective, and it's a toss of the dice from the beginning, even with the most respected experts making the call on how much recoverable gold can be extracted at a profit.
The share price and futures of companies like NovaGold Resources is completely based on the estimates of geologists hired to make the estimates. They admit that their estimates, while to the best of their abilities, is still a highly subjective discipline and are only guidelines, not true assessments, which in fact can't be made by anybody, the reason smaller gold mining companies can swing back and forth in price to such large degrees.
It's not only the estimates of profitably recoverable gold in the mines that is the only factor, but also the cost related to extracting the gold where it can make money, which can be more accurately assessed, and which is more able to be measured by those evaluating the company, assuming management is forthright with investors and potential investors.
NovaGold Resources
NovaGold Resources (AMEX:NG), like its gold mining cousins, must be considered risky investments, and those sinking their money into them should be sure they are able to lose it, as the valuations of the companies are highly subjective, and it's a toss of the dice from the beginning, even with the most respected experts making the call on how much recoverable gold can be extracted at a profit.
The share price and futures of companies like NovaGold Resources is completely based on the estimates of geologists hired to make the estimates. They admit that their estimates, while to the best of their abilities, is still a highly subjective discipline and are only guidelines, not true assessments, which in fact can't be made by anybody, the reason smaller gold mining companies can swing back and forth in price to such large degrees.
It's not only the estimates of profitably recoverable gold in the mines that is the only factor, but also the cost related to extracting the gold where it can make money, which can be more accurately assessed, and which is more able to be measured by those evaluating the company, assuming management is forthright with investors and potential investors.
NovaGold Resources
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