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NovaGold Resources Inc. Message Board

  • ultraific2 ultraific2 Feb 8, 2013 2:28 AM Flag

    MUX efficiently builds gold production, NG pumps fairy tales to foolish children....

    Big difference.

    Don't be a NovaGold sucker.

    Buy gold miners that actually have some operating mines, and are actually building new mines, to expand.

    Avoid development plays that cannot fund their share of construction costs, esp. ones who have senior partners that have NO interest in proceeding with development this decade....!!!

    Seems academic to me......

    .....but NovaGold shareholders act like foolish children owning this #$%$ stock, believing in their fairy tales of riches......

    You have a better chance of making money in the long run buying scratch-off lottery tickets than owning NovaCRAP....

    Sentiment: Strong Sell

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    • I understand you frustration. I think NG stock could double "if" it gets a buyer for Galore Creek. Also,It really does take a long time for permitting gold mines in US. It actually take years. Just like any stock. you take your chances. There is gold in those hills, but will be awhile for mining. Take your chances and hold with big Hedge Fund or sell. Note: ALL GOLD stock have been weak

      • 1 Reply to stockeropinion
      • Nobody is going to touch Galore Creek, because Teck Resources owns 50% of the partnership that owns Galore Creek, and Teck Resources has first right of refusal regarding ANY mine development at Galore. Thus, any party buying NovaCrap's 50% share of the Galore partnership would have to be willing to buy out Teck's share (if Teck were willing to sell....which their not), and then pony up upwards of $5 billion for the mine (if it can even be permitted again....permits obtained in 2007 are now void, due to mine development/plan changes invalidating original permits).

        Nobody is going to risk any serious money buying NG's 50% stake in Galore Creek, for fear Teck Resources will sandbag them forever (which is exactly what Teck has done to NovaCrap). This diminishes the value of NG's share of Galore, considerably.

        Thus, the NovaCrap's 50% stake in Galore Creek really only has lasting value to one party: Teck Resources.

        Since they (TCK) don't plan moving on Galore Creek this decade, they're in no hurry to pay up for NG's stake. Apparently, no one else is either.

        Disclosure: I am a TCK shareholder.


        Sentiment: Strong Sell

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