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NovaGold Resources Inc. (NG)

NYSE American - NYSE American Delayed Price. Currency in USD
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8.15-0.12 (-1.45%)
At close: 4:00PM EST
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  • J
    Jack
    I held this stock for about 9 years from 2012 to 2019. The mine has tremendous potential, however at some point it needs to be built. Or else it's just a nice story
  • R
    Richard
    Warren Buffett cashes out of Barrick Gold. Reason?
  • M
    Mikie
    if talking about drilling and producing drove stock.prices, this stock would be $1000/share.
  • J
    John
    NG/BARRICK ‘s 39,000000 ounce GOLD VAULT. The price of gold has more than tripled in twenty years
  • G
    Gold Digger
    Gold in the ground is safer than a bank...and still appreciates.
  • R
    Richard
    Read Barrick Gold conference call. Notice that Alaska is not mentioned. I was hoping that they wanted to develop the mine.
  • J
    John
    The Boring Co. might be part of solution in building pipe line.
    $ 3500, gold is a number I think
    will demand construction
  • u
    ussNJ
    $7.00 by next week.
  • J
    Jim
    Get out while you can. This will not be built.
  • T
    Tim
    This mine won't be built for a very long time. The marginal cost to produce another oz of gold is about $1250, and the gold price to justify building the mine is about $2000/oz. If gold stays at current price ($1850), other producers will increase production, and gold supply will increase, driving gold price lower, long before NG can build the mine. For this mine to be built, the marginal cost to produce must be much higher before NG business case to invest capital to build mine will be justified.
  • g
    grednam2000@yahoo.com
    2nd thoughts: NG can put this whole thing to bed if the can get with Barrick and release a news story announcing intentions to break ground on the mine in say 15 months. It wouldn't even have to be a very firm commitment, but just news of an estimated time, or window of time in the future, where there's a flexible commitment that the mine will begin being built. That would send the stock price back up. Institutions would buy, private investors would buy, shorts would have to cover, and the stock wouldn't return back down... The shorters either cover or they have an unrealized loss, and really they deserve the latter with no hope of ever profiting from their prank. I'm sure management has thought of this. Hopefully they can do it, and do it now. If there's manipulators shorting NG shares still in the market, holding out for lower prices, things can be done to turn the market for NG shares around. It's as simple as a story form the concerned partnership that includes a date when ground on the mine construction will be broken. They do that and this thing is over. Maybe we simply see something from Barrick that is support for NG, sp positive, that pressures the shorts... Maybe JCAP has woken the sleeping giant...? It could be a big loss for them, even including consequences resulting from legal proceedings.
  • R
    RJ
    I’m trying to get a feeling about NG’s future, and where its stock price may be going the rest of this year, so I’ve started by doing some research about significant announcements of the past few weeks. After digesting this, I’d welcome any thoughts about the questions I’ve listed at the end.

    On 14 May, NG had their Annual General Meeting (webcast) and discussed 3 topics: 1) proposals voting; 2) 2019 results and 2020 drilling plans; 3) Views of gold looking forward. You can listen to a replay of the 1h:51m call via https://www.novagold.com/investors/events/index.php?content_id=2314 Following the gold forecast were some shareholder questions, the first of which was about putting the mine into production.

    Or you can request of a transcript of the call from the Manager of Investor Relations (hasn’t yet been posted on their website.)

    Either way, you should concurrently view the AGM’s slides: https://www.slideshare.net/NovaGold

    Some interesting takeaways:
    - Status of 2020 drilling program, and impact of Covid-19;
    - Results of drilling will be used to determine next steps;
    - 39M oz M&I, on only 3 of the 8 kms they own;
    - Highest grade of ore in the world;
    - Kaplan’s answer to the first question talked in part of gold’s price becoming a multiple of today’s price, and they want to highly leverage this factor when producing gold in the future.

    Regarding putting the mine into production, the biggest task will be getting power to the mine site.

    1. https://www.novagold.com/properties/donlin_gold/infrastructure/

    Capital costs to design and build Donlin mine were estimated at $6.7B, in 2012. Must have gone up, I would think. Cost savings ideas also mentioned.
    Average operating costs over the LOM are expected to be $34.99 per tonne processed or $581 per gold ounce produced. I am sure this does NOT included amortization of the pipeline costs! My guess is that AISC will be closer to $1000/oz.

    2. http://dnr.alaska.gov/mlw/mining/largemine/donlin/

    Pipeline construction time estimated at 3-4 yrs or so.

    3. http://dog.dnr.alaska.gov/Document/2FBEB54867C046558BB400592B195FC/1-24-2019__Donlin_Pipeline_Right-Of-Way_Lease_Commissioner's_Analysis_and_Proposed_Decision?

    Published Jan, 2019. A really good analysis of the pipeline project, map of its route (page 4), facilities needed, construction methodology, etc.

    So, some questions:
    1. Do you think Kaplan would put Donlin into abeyance until the price of gold goes much higher?
    Or, if it will take 3-4 years to build the pipeline, with POG rising concurrently, should they start building now?
    2. He sees NG’s price in the 20’s and 30’s while gold goes higher, w/o Donlin in production. What think you?
    3. Or, is Kaplan a slick-marketer of the project, trying to entice a buyout? And who can sink $7B into a pipeline before seeing any production? In addition to spending $8B to purchase 325M shares @$25/shr (or higher).

    Thanks for any insight you may wish to offer.
  • O
    OldE5
    It should be noted that Nova Gold has a float of only 216 Million shares and a share price of $8.67. Barrick Gold has a float of 1.72 Billion shares with a share price of $18.40. Once the Donlin mine is opened, we have a long way to run.
  • W
    W
    Technical feasibility was proven long ago.. ORONTO, ONTARIO, Oct 24, 2006 (MARKET WIRE via COMTEX News Network) -- Barrick Gold Corporation (NYSE: ABX)(TSX: ABX)(LSE: BGD)(SWX: ABX) announced today that it has increased its all-cash offer to acquire the outstanding common shares of NovaGold Resources Inc. to US$16.00 per common share and extended its offer to 9:00 p.m. (Toronto time) on November 7, 2006. The increased price is Barrick's best and final offer price for NovaGold.
  • T
    Tom
    NG) today announced that its flagship Donlin Gold project, which NOVAGOLD owns equally with Barrick Gold Corp. (“Barrick”), received the final State Right-of-Way (ROW) authorization for the buried natural gas pipeline, issued by the Alaska Department of Natural Resources (ADNR) on January 17, 2020. The ADNR also issued final authorization of the easement, land leases, land use permits, and material site authorizations for the proposed transportation facilities, and easement for the fiber optic cable on State lands on January 2, 2020. Additionally, ADNR denied an appeal and affirmed the Division of Mining, Land, and Water’s original January 18, 2019 approval of Donlin Gold LLC’s Reclamation Plan and its accompanied permit.
  • E
    Emergio
    Barrick Gold Corp. President and CEO Mark Bristow believes Donlin Gold is "a very valuable asset" that is both blessed and challenged by its location. "If you look at Donlin compared to some of the other assets in our portfolio, it's a pure gold play
    Barrick Gold Corp. President and CEO Mark Bristow believes Donlin Gold is "a very valuable asset" that is both blessed and challenged by its location. "If you look at Donlin compared to some of the other assets in our portfolio, it's a pure gold play
    www.miningnewsnorth.com
  • D
    DennisD
    I just went to the Barrick website, and pulled up the Link "Operations" and within that link the link for "Exploration & Projects." These are very positive statements about Donlin. They do not appear at all like an abandonment of the mine, quite the contrary. The link suggests that everything is moving along fine.
  • D
    Dev
    i am convinced with the report.just waiting for the stock to recover.
  • J
    Jimbob
    We got our permit to mine today. now all we need is a positive move in AU. Thanks, NG management!
  • E
    Edward
    Just listened to the entire CC this AM. Very informative and professionally done. They addressed my questions submitted by the chat feature on the pipeline and short sellers very nicely & to my satisfaction. All Fed approvals are in place and are finalizing state permits now. Barrick is holding back and playing their cards close to the vest. Kaplan is very smart and highly experienced and is in it to win it big time. The short seller issue will go away in time. It will take about 3 years to build the mine and pipeline if they go that route for energy. Other option is river barge. They will update feasibility study after decision to build the mine. I like what I heard. Good luck.