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NovaGold Resources Inc. (NG)
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Barrick files $4 Billion shelf registration.... should cover their share of Developing Donlin.
Gold surging back above 1800 Copper strong today still above 4.50......
Soaring copper prices = load up RMES while shares still cheap. Undiscovered 40 cent RMES shares could be trading well over $5 soon. RMES also has big claims on large indicated gold and cobalt reserves in Chile.
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Kitco NEWS: Barrick Gold's Mark Bristow on how to out-flank bitcoin.
Four months ago I wrote, "Why not just do what First Majestic did?: "The storage tanks for the new LNG plant were delivered and installed during the quarter. Generators are expected to be installed by the end of October and all electrical tie-ins will be completed prior to testing by year-end. The new LNG facility is expected to be fully operational in the first quarter of 2021."
In other words, under a year, instead of a decade in limbo" And just today, right on schedule they announced"During the [first]quarter, the Liquid Natural Gas ("LNG") facility at Santa Elena successfully was successfully commissioned and by quarter end, it was supplying approximately 85% of power requirements to the Santa Elena operation."
Now there is definitely something to be said for sitting on a mine during a time of rising prices, but this shows how quickly the mine could be put into production.
WHY WAS THIS REMOVED?
With so many remote infrastructure requirements, ￼one has to wonder what their ASIC’s are going to look like￼ once the mine is in production.. Sounds like way above average.
major news next year coming, be patient.
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
Are they really going to build the mine? They had their approval 4 years ago. Are they worried about finance? Is this not feasible to build? If not what would stock holders do about it?
So many next $TSLA to choose from!
$NIO $CCIV $FSR $NG $XPEV
This is a great stick to trade.
with assay results like we just received this could be at the level of Nak's Pebble mine reserves. Wish that they would have posted all hole analysis and not only 5. Always weary when miners do that. Have to wait till next week I guess.
We need a construction schedule or a buyout. The borings sound good but No construction schedule or buyout. Why?
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.
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
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:
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.
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.
Pipeline construction time estimated at 3-4 yrs or so.
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.
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.
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.
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.
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