Situation has worsened as a result of a shortage of new discoveries, cost cutting measures and miners digging out higher-grade material for a short-term gain, say experts.
NovaGold Resources Mining News
The Donlin deposit holds an estimated 33 million ounces of gold, which would be extracted over the expected 27-year operating life of the open pit mine.
NovaGold Resources Inc. (TSX:NG)(NYSE Amex:NG) ("NovaGold" or "the Company") is pleased to announce that it will be implementing the previously approved spin-off of NovaCopper Inc. ("NovaCopper") on schedule and as planned Monday, April 30, 2012 to NovaGold shareholders of record as of the close of business on Friday, April 27, 2012 (the "Record Date").
Canadian NovaGold Resources Inc. (TSX:NG) said its net income fell to $16.8 million in the first quarter pushed by the elimination of foreign exchange gains because of a new arrangement with warrant holders.
NovaGold Resources Inc. (TSX:NG)(NYSE Amex:NG) ("NovaGold" or "the Company") today announced that it has eliminated preferred shares from the capital structure of NovaCopper Inc. ("NovaCopper"), which will be spun out in conjunction with the earlier announced Plan of Arrangement.
Canadian miner NovaGold Resources Inc. (TSX:NG) said today that it has begun the process of trying to sell its 50% stake in the Galore Creek copper-gold project in British Columbia, in order to fully focus on its flagship Donlin gold project in Alaska, in a stament announcing its poor Q4 results.
NovaGold Resources Inc. (NYSE Amex:NG)(TSX:NG) ("NovaGold" or the "Company") today announced that it has entered into an agreement with a syndicate of underwriters, led by RBC Capital Markets and J.P. Morgan Securities LLC under which they have agreed to purchase from NovaGold and sell to the public 26,400,000 Common Shares at a price of US$9.50 per Common Share.
It was just over two and a half years ago that NovaGold and equal partner Barrick Gold put out a feasibility study on the massive Donlin Creek gold project in Alaska.
Investors who have parked their money with NovaGold (AMEX:NG) must be wondering whether the company is ever going to pull gold out of the ground at its Donlin Gold Project in Alaska.
Putting Galore Creek into production would cost a whopping $5.2 billion in capex, NovaGold Resources said this week in announcing their prefeasibility study of the substantial copper--gold- silver project in northern British Columbia. The proposed mine, located 200 kilometres north of Stuart, BC, is 50%-owned by NovaGold and 50% by Teck Resources. Image of the proposed pit design for Galore Creek, courtesy of NovaGold Resources Resources Inc.
Copper Canyon Resources is getting more for its Copper Canyon property along with a spin-off company to develop its other exploration assets.
NovaGold Resources said Thursday it plans to "vigorously defend " a lawsuit filed against the company by Copper Canyon Resources Ltd. The notice of claim filed by Copper Canyon "alleges that Copper Canyon's right of first refusal with respect to the Copper Canyon property has been triggered as a result of arrangements between NovaGold and the Galore Creek Partnership, and seeks specific performance of the right of first refusal. NovaGold denies that the right has been triggered or that it has breached any obligations respecting the Copper Canyon property."
Never mind the correction in the price of silver, says Silver Strategies Editor Sean Rakhimov; better things are ahead. "It may be volatile; it may be steep; but it should be short-lived," he says, adding that he expects silver to rise well above its 2010 high at some point in 2011. Some of that price support could come from governments entering the silver market. Find out all the reasons for this and read about some of Sean's favorite silver plays in this exclusive interview with The Gold Report.