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News Breaks
July 26, 2012
10:03 EDTNG, ABXNovaGold plummets after Barrick raises doubts about gold deposit
NovaGold (NG) is retreating after Barrick Gold (ABX) indicated that it may not invest significant amounts of money in a gold deposit in which the two companies each have a 50% ownership stake. Barrick said that the Alaska-based Donlin gold deposit doesn't currently meet its investment criteria, primarily because of the large initial capital investment required to launch it. However, Barrick did add that Donlin represents a "valuable long-term opportunity," partly due to its long life mineral resources. Moreover, Barrick added that it would advance permitting activities at the site at reasonable costs, giving it the option to undertake construction there in the future. In early trading, however, NovaGold tumbled $1.67, or 31.04%, to $3.71. Barrick, meanwhile, sank $2.47, or 7.31%, to $31.32.
News For NG;ABX From The Last 14 Days
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October 6, 2015
17:18 EDTNGNovaGold says has sufficient capital to fund Donlin Gold, Galore Creek projects
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17:17 EDTNGNovaGold lowers FY15 CapEx view to $41.3M from $44.8M
Based on spending to date of $35.3M, the full year 2015 spending forecast has been reduced from $44.8M to $41.3M, which includes $15.8M used in the second quarter to repay the principal on the remaining convertible notes, $12M to fund our share of expenditures at the Donlin Gold and Galore Creek projects, $0.5M for joint Donlin Gold studies with Barrick and $13M for general and administrative costs, interest, working capital and other corporate purposes. NOVAGOLD continues to focus on five key areas throughout the year: first, to advance the Donlin Gold project toward a construction/production decision; second, uphold strong relationships with all stakeholders; third, advance Galore Creek mine planning and project design; fourth, evaluate opportunities to monetize the value of Galore Creek; and fifth, maintain a healthy balance sheet.
17:09 EDTNGNovaGold reports Q3 EPS (2c), consensus (2c)
In the third quarter of 2015, NovaGold achieved the following: The cooperating agencies completed the review of the Donlin Gold preliminary draft EIS in July; The Corps is on track to publish the Donlin Gold draft EIS for public comment; Donlin Gold hired two additional senior permitting staff members who have taken lead roles on key permitting tasks as major permits also continue to progress; Site visits were conducted at Galore Creek to continue to optimize integrated mining, waste and water management concepts in the Galore Valley.
October 1, 2015
06:20 EDTABXBarrick adviser: Not in talks with Newmont on gold mine stake sale, Reuters says
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September 29, 2015
17:05 EDTABXRoyal Gold closes Pueblo Viejo Stream transaction with Barrick Gold subsidiary
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