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Been waiting for an entry point with this one trying to figure out where the bottom is on this thing, "Gold" may dip a little more in the 1,600's not sure, who knows, with all the manipulation with Gold prices, but I will be Long this one, unless major things happen with this company of course or the chart just turns sour. Also gonna see what happens with JAG it's a roulette play though with that one...
Elliot Wave Coming ? http://finance.yahoo.com/news/kaeppels-corner-gold-poised-next-092331631.html
http://www.forbes.com/sites/steveforbes/2012/11/01/forget-apple-buy-microsoft-and-hold-gold-says-contrarian-kleinschmidt/?partner=yahootix
http://thenewamerican.com/economy/markets/item/12552-top-investor-warns-of-%E2%80%9Cfinancial-armageddon%E2%80%9D-as-soros-dumps-bank-stocks-buys-gold
http://leebsmarketforecast.com/content/4-billionaires-just-increased-their-stake-these-stocks
http://www.moneyshow.com/investing/article/1/GURU-29049/6-Reasons-Billionaires-Love-Gold/
NG - long term, GOLD goes up to new highs, IMO.
Didn't expect Gold to take a $40 hit today. QE3, etc. makes no sense, other than ELECTION PPT (like the 7.8/7.9 numbers, "uh-HEM!")
Who is selling the gold stocks & who is buying? ... transfer from "mom & pop" folks to cartel large pockets (read conspiracy ... LOL)
Got a few at the gap fill (no bounce), then a second helping @ 4.68 ... waiting for dust to settle before adding more. Next support levels looks to be around $4.50/$4.40 area.
Novagold is one of my FAV miners ... sitting on a "LOAD" of "GOLD!"
Amazingly, NG retraced 100% from the run which started on Sept. 4 - $4.67 to $6.28
Where are the TA experts when you need them? HA!
Where do we go from here?
I am waiting for the same thing.
Nova Gold Talking head said they would start mining in 2013???
Auguries - October 19, 2012
Apples and Oranges
Kevin Michael Grace
Gold was down (at press time) $27.50 (-1.6%) for the week to $1,742.10, and silver was down $1.30 (-4.2%) to $32.78. According to Jordan Roy-Byrne at Minyanville October 18, “We expected a correction after the gold and silver shares ran into predictable resistance that coincided with October seasonal resistance.”
At King World News, Egon von Greyerz, managing partner of Matterhorn Asset Management, declares, “Every time COMEX opens, it’s the same thing—you see selling. So there is clearly short-term manipulation, but it makes no difference whatsoever. If you look at the gold price, in combination with world liquidity, you see that gold is going up hand-in-hand with increased liquidity.”
As he points out, there is no end in sight to quantitative easing, notwithstanding the ever-diminishing returns. Since Bernancus Magnus “became chairman of the Fed in 2006…the debt has gone from $8 trillion to $16 trillion, while GDP has gone from $12 trillion to $16 trillion. So debt has increased by $8 trillion, while GDP has only increased $4 trillion.”
Read more about gold prices here. http://resourceswire.com/2012/10/auguries-4/
I think your right on that.
NovaGold Resources Inc. (NG, C$4.91, up 0.8%) said its third-quarter loss narrowed to 8 Canadian cents a share from 22 Canadian cents.
PS : if the newes you're referring to is report of foreign issuer, frankly I don't know what to make of it, but it can't be bad if the stock is up today.
bundy: Sorry, but I missd the news - pls enlighten me. thanks
NG - still has small gap to fill from Sept. 7th...
4.82 ... bounced off the 50M and bottom BB ...
What do you make out of the News today?
Wrong PR. We will go back to 4.50 and fill before another run.
J: good move - good luck -we might however need a little patience
Yea imho this is a great deal. I'm with you. Gonna free up some funds and fill up.
SIA-Chart for NG : Bullish as Superman Just showed up today : which happens when the stock goes 5% above its 100 day moving average. We also have a super cross very close to showing up, which means that the 50 day moving average will break above the 100 day moving average, which is also very bullish and means that buyers will be coming in big time.
micro: like the way NG inches up every day.
NG - Mining Conference (Transcript). Good Read!
Seeking Alpha September 11, 2012 | about: NG
NovaGold Resources' Management Presents at Bank of America Merrill Lynch Canada Mining Conference (Transcript)
Executives
Thomas S. Kaplan – Chairman
NovaGold Resources, Inc. (NG) Bank of America Merrill Lynch Canada Mining Conference Call September 6, 2012 4:00 PM ET
Unidentified Analyst
Moving along, we now go to NovaGold Resources and I think, I see the speaker right there, Dr. Thomas Kaplan, who is Chairman of NovaGold and he is also Chairman and CEO of Electrum Group, which is the – I believe the largest shareholder of NovaGold.
For those of you who don't know, NovaGold owns 50% of the Donlin Gold project, I almost said Creek sorry, the old name, and which is one of the world's largest undeveloped gold prospects and it’s currently moving ahead through permitting, but I’ll pass it on to Thomas.
Thomas S. Kaplan - Chairman
Thank you. My group, the Electrum Group, has been the largest shareholder of NovaGold, at the end of 2008 the height of the financial crisis up until that time, we haven’t owned a share, but nonetheless NovaGold had an asset that I had always coveted and that was Donlin. The combination of Donlin and Galore Creek to us represented a unique opportunity to be able to acquire that which I think is the most important aspect going forward in the bull market, which is the scarcity value and the leverage that comes from great assets in jurisdictions where you will be allowed to keep the fruits of that leverage.
Let's start with Donlin itself. In our view, when you take into account the various aspects that go into making a great mine, Donlin has all of them and is indeed arguably the most important gold development project in the world today. In terms of size, 5 million ounces in all resources, 39 of which are proven and probable, but we believe that that's only a fraction of what still exist, the exploration potential along the 7 kilometers is excellent and our target is indeed to double the resources.
At 2.25 grams this is an extraordinarily high-grade. You’d really have to go to the Congo in order to be able to get it. The production profile is such that this will be one of only six mines in the world that produces over 1 million ounces a year and indeed when it goes into production at 1.5 million ounces it will be the largest single gold producing mine in the world.
Most importantly and this I do believe is going to become the existential factor going forward for investors, it’s in a jurisdiction that is safe. It's in a place that when an institutional investors says why they want to invest in the gold space, they’re going to be able to find comfort in the fact that they are not going to wake up in the morning and find out that they’ve been the subject of nationalization, accrue or other forms of sequestration.
In that respect, when you combine all of the attributes of size, grade, production profile, exploration potential, as well as jurisdictional safety, we believe that Donlin is unique. Certainly, in terms of size, it is the largest known gold project in development today, as I said at 45 million ounces and growing. It is also in term of the grade, higher than anything that you will find indeed other than in the Congo.
The exploration potential as I mentioned, the pit from which the 45 million ounces is drawn is only 3 kilometers, indeed a portion of 3 kilometers of an 8 kilometer identified trend, putting aside the fact that the reserves have doubled over the last five years. What’s very interesting about this is that if you look at the pit and then you look 7 kilometers forward, you are going from 2.25 grams to as high as 4 grams at the Donlin deposit. So the opportunity for this to become 100 million ounces is very clear.
Certainly the scarcity value is already evident. This is one of only 3 million plus producing projects or mines that are in the safe jurisdiction of North America, and there are only six in the entire world. The production at 1.5 million ounces a year, as I said will rival all of the greatest gold mines in the world including Grasberg, Cortez and Yanacocha.
Certainly in terms of the evolving developers, it leagues ahead even at a 1.1 million ounce a year production, throughout the earlier years of 1.5 million can probably be sustained with an expansion.
Very importantly, I'm often asked the question about jurisdictional safety and I would say that we are evangelical about it. Now don't get me wrong, my Group has been one of the largest investors in the emerging markets in gold. We've made money in Congo, Venezuela, Zimbabwe, South Africa until recently we’re the largest landholders in Pakistan. But I can tell you, by the end of this year, 90% of our holdings will be in North America, United States, Canada and Mexico.
It is my conceded opinion that within the next year when brokers are coming to tell you that, you might be interested in seeing companies with world-class assets, the first question that you're going to ask is where in the world are you. Because if you are not in the right place people are not going to talk to you, because they are quite simply not paid enough to make career risks on [doughy] countries and unfortunately it’s no longer just the baddies, Russia or Venezuela, every week, whether it’s Indonesia, or Peru or Ghana, it's a new country which is being added to the list of difficult jurisdictions. We see it in our own business and we’re reflecting that through our positions in companies in North America.
Alaska is a beautiful place to do business. It is the second largest gold producer in the United States after Nevada. There are seven large gold mines there and growing. Donlin is in exactly the right place that you would want to be. We are on private land already designated for mining and the native corporations that were in partnership with have a substantial stake in the project. We are not near any [fisheries] the nearest town is 12 kilometers away. We have no watershed issues and indeed the fact that we have local support means that we are in a very, very healthy position going forward.
As you can see from this quotation from the Cholestech Corporation, which is one of our stakeholders, they recognize that Donlin is the way to bring infrastructure and growth to the region and they are our biggest cheerleaders.
This is something that I as an investor love. I'm looking for leverage in a place where I can keep it. If that would be the one sentence which I would leave with you, its that the key for us as investors in the gold space and we are very bullish, we don't believe that the bull market and gold has even begun is to be able to have the maximum leverage to great assets in jurisdictions that will allow you to keep the fruits of that leverage.
If we are right, what we're going to see is a bubble in the North American assets of which there are very few. But as I said, institutional money will flow to jurisdictional safety, high-quality assets are scarce, we want to be in the right place at the right time as we've been in other aspects of resources. Certainly when it comes to cash flow, this is a project that will generate enormous amounts of it and give us exactly that kind of leverage that we're looking for.
Donlin will be amongst the lowest cost producers of gold. Now, immediately it has a high upfront cost on CapEx. However, when you're talking about a project in life and very possibly, if we're right on the exploration potential 50 year to 100 year mine life, you're talking about something which is in a completely different league. The fact that it's also a low cash cost story is very, very helpful.
We are moving ahead with the project, Barrick and we have announced that we are moving forward with the permitting process, it's a three year to four year process, it takes longer in the United States, but in the end it's worth it because you know that you actually own it. The permitting process officially commenced last month, welcomed by the State of Alaska, as well as our stakeholders and in fact the State of Alaska has said that Donlin, thus far has been the model development project of its kind in this state.
The company has been meeting all of its milestones. We raised $300 million plus, a significantly higher price, I'm sad to say in January of this year. So the company is sitting on $300 million in cash with the expectation of adding another $50 million by early January. We spun-off NovaCopper, we started the process of selling Galore Creek, and we’ve commenced the permitting process on Donlin after completing and improving the feasibility study with our partner Barrick. We are spinning-off the Rock Creek project submitting our EIS in the fourth quarter and hopefully we’ll have a sale of Galore.
In terms of CapEx, we start with $6.7 billion, but that’s a somewhat misleading number. Put aside the fact that this is a very, very fresh feasibility study and was meant to be able to withstand all kinds of scrutiny as a result of CapEx blow outs elsewhere. But we see at least $1 billion in CapEx that can be taken of the table, not by cutting anything, but simply by turning various aspects of the project over the owner operators.
The gas pipeline itself is $800 million, for the 30 year mine life we believe that, that’s eminently possible. The mining’s equipment, the oxygen plants are typically owner operated projects of these kind. When you add them up, that’s over a $1 billion. The real plant and equipment was $4 billion, on that was a $1 billion contingency plus a $1 billion on things that we think that we can hive out.
In terms of the milling and mining process, all available technology – sorry – mineral process methodology, standard off the shelf. In this chart, you see a comparison between Donlin and Pueblo Viejo, and in many respects, Donlin is actually a considerably simpler project.
Galore Creek is a very important asset, although we’ve announced that we have put it up for sale. It is also fair to say that, this is world class, it will be as envisioned by the feasibility study, the largest copper mine in Canada. And I don’t have to tell you that whether it’s Indonesia, Congo, Peru or anywhere else, the jurisdictional issues which I’ve highlighted for gold or at least as apparent in copper as well. Since we came out with the pre-feasibility study which was positive, we moved into an optimized plan, the drilling for that has thus far confirmed all of our assumptions, indeed the grades that have been returned have been higher than what we had seen in the study itself.
As I mentioned, we are sitting on a lot of cash. We do not need to raise money. We have plenty of money to take us through the permitting process into a construction decision. Our overhead is going to fall to $45 million by the end of this year, as a consequence of the divestitures, not even including any potential proceeds from the sale of Galore. We will end the year with well over $300 million with a $45 million burn rate going forward.
In terms of reserve burn, it’s very clear to see that NovaGold possesses a uniquely large suite of assets giving it exceptional reserve. So why invest in NovaGold?
Most of the time I sit on your side of the table as investors and I can just simply say that from our standpoint what we are looking for in a gold investment these days is leverage in a place where you can keep it. Everything else is editorial. I don't believe in the end that institutional investors are going to wanted to be in unusual jurisdictions. I think they are going to want to be in places that they can defend their investment community, but I do strongly believe that we’re setting up for a perfect storm in gold, which is going to be expressed through the mining companies that are in the right place to be able to deliver that leverage.
When you look at Donlin, you are looking at something which is uniquely large, which is an excellent grade, which has a production profile that will be literally second to none, an exploration profile which is extraordinary and finally it's in the jurisdiction that has welcomed us and wants to see a mine. So we are solid and we are secure and as everyone who has been our shareholder is quite aware, I mean, I can speak as the largest shareholder of the company, we are absolutely committed to maximizing the value of the story for the benefit of all shareholders equally.
And with that perhaps, I can open the floor up to any questions.
Question-and-Answer Session
Unidentified analystWe definitely have time for some questions. And I guess I can start off kind of the elephant in the room question. Bank of America in the presentation today, which you already know, what they’ve said obviously if. And they’re still permitting Donlin Gold, but they wouldn’t build it today, basically what they’ve said, but they do concede it’s a world class asset, so just wondering four years from now, five years from now I guess probably it will take that long four years, what if Barrick sort of strangle their feet, is there a mechanism that NovaGold can move ahead?Thomas S. Kaplan - Chairman
The fact is that there is. But I think that that's an unlikely scenario. There are two possible scenarios that we can see. If gold were to collapse and that we’ve already seen the end of the gold bull market, I think very few projects will go forward.
On the other hand, as I said, we are very bullish. I don't even believe that the bull market and gold has begun and this is my own money, it’s not other people’s money, I don't have to invest in gold, I don't have to invest in NovaGold, and I certainly don't have to be Chairman.
But when we looked at the Donlin story, we do not see it in a way that is short-term. What we are looking at is where will the world be three or four years from now? If we are right, gold will be much higher and while other projects are being deferred, ours is actually not, so where as the rapt used to be, well Donlin is a story for 2018 or 2019. The truth is we’re moving forward now, at the same pace as we were moving forward a month ago or two months ago. Other projects are being deferred, so ironically we are starting to catch up in terms of the projection of where we will be three or four years from now.
Now as regards to Barrick. It’s not slight in any respect, I think it’s the elephant in the room that Barrick has issues, they have issues in South America with Pascua Lama, they have issues with Equinox. We have a lot of confidence in Jamie and the Barrick management, but we think that they are getting their hands around what needs to be done.
And as you said three, four years from now, it’s going to be a very different world. If I am right on where gold is going, Barrick will be one of the biggest beneficiaries and they won't be able build on fast enough, because if I am also right on the jurisdictional aspect, what shareholders are going to want to be clamoring for is great leverage, world class assets, but in the right place of the world. They are not going to be in Argentina. I don't think that they are going to be mining new things there. I don't think they are going to be mining new things in Africa. Quite frankly, I think they are going to be exiting Africa.
So in terms of the themes that we are looking at whether it’s higher gold or asset quality, Donlin is in the right place. To be very candid, Barrick isn't in the position of having to make a decision now. It’s convenient for them to be able to say that, if they had to build it right now, they wouldn't. But the reality is, we are dealing with a partner who is going to get through its problems, but they have issues. And I don't think that they would like to build anything new at this moment.
Three, four years from now, gold prices are higher, the debt hopefully will not be $14 billion, but a fraction of that. I think that they are going to feel about Donlin exactly as Jamie described it. It is a great asset, the optionality is unique. There is no other asset out there that gives you greater leverage and optionality to gold, at the same time being in a place where people will want that.
If you think of the investable means in North America, in the gold space, you can probably put them on one hand. If we are right and Donlin is not only the best asset in North America, but also arguably the best gold asset in the world. This is exactly what Barrick is going to want to be building. The issues which we’ve been dealing with from Barrick have been Barrick issues, not Donlin issues. But we have absolutely no doubt that Barrick will get through those issues and we are delighted to have them as our partner. Three, four years from now, I think that we will be announcing that we really are building this project exactly as we’re planning to.
Unidentified Analyst
Thank you for that answer. If there is no more questions, if you can all join me to thanks Dr. Kaplan and NovaGold for the presentation, and…
Thomas S. Kaplan - Chairman
With pleasure.
Unidentified Analyst
…look forward to the mine opening in seven years.
Thomas S. Kaplan - Chairman
Thank you very much.
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NG - NovaGold Appears Poised To Outperform Peer Developing Gold Miners
August 31, 2012 - by Zvi Bar
Since bottoming during the first week of August, shares of Vancouver-based NovaGold Resources (NG) have appreciated by about 25 percent, vastly outperforming the broader gold miner industry as defined by both the Market Vectors Gold Miners ETF (GDX) and the Junior Gold Miners ETF (GDXJ), both of which appreciated by about 11 percent since NG bottomed. See a comparison chart: (click to enlarge)
But over the last several days, NG has begun to decline and considerably moreso than these ETFs comprised of its peers. See a performance comparison chart for the last 10 days: (click to enlarge)
NovaGold may very well be the most contrarian investment amongst gold miners, an industry that is considered by many to be wholly contrarian. Moreover, despite this recent outperformance within August, NG has been one of the worst performing gold miners, even among the non-producing, exploratory miners, though it owns a major interest in one of the largest known untapped domestic claims in the United States.
After a terrible start to 2012, along with its peers, NG suffered a steep selloff when Barrick Gold (ABX), the world's largest gold miner, reported its second quarter's earnings, disappointing Wall Street and indicating that it would lessen its expenses towards non-producing long term operation plans, including the Donlin Gold project in Alaska. Barrick and NovaGold share the mining rights and a joint venture in Donlin Gold. While ABX is a large gold miner, where Donlin is one of its many projects around the world, NG has morphed itself to be a pretty pure play on Donlin. Included in NG's endeavor to focus on the Donlin project, it spun off its copper assets into Nova Copper (NCQ) earlier this year.
Barrick did not disparage the Donlin asset, but instead merely made it clear that Donlin would not be producing for several years. The project is far from the point of production and it will still take about four years for Donlin to obtain the necessary permits before production would be theoretically permissible. It is for this very reason that it is likely that the market is over-reacted to Barrick's statement. The reaction at the end of July is visible on the 3-month chart, below: (click to enlarge)
Based upon Donlin's last geological survey, the site has approximately 39 million ounces of gold resources, but over time the estimated size of the find has increased. NovaGold filed Donlin's feasibility study in mid-January. The scope of the project is massive, carrying a $6.7 billion capital cost that will include an $834 million natural gas pipeline. Plans anticipate that Donlin will have a 27-year mine life and that it will produce 1.5 million ounces of gold per year for the first five years, at a cost of $409 per ounce.
Several large funds hold significant positions in NovaGold, including some of the best-known contrarian investors. One of the reasons NG fell so much in response to the statements out of Barrick may be because several substantial positions are long term holdings. This may have had the affect of creating reduced liquidity and increased volatility, due to the smaller supply of shares available for day-to-day trade between parties.
Major holders include John Paulson's Paulson & Co. held just under 32 million shares of NovaGold, or about 11.4 percent of the company, at the end of the first quarter of 2012. Paulson also increased its stake in NG during the second quarter of 2012 to 35,970,518 shares, or 12.86 percent of the company. Mr. Paulson is well known for betting against subprime mortgages before they collapsed, and buying banks after their collapse, and is largely viewed as a contrarian investor, but his funds have exceptionally underperformed the market in 2011 and so far in 2012.
It is possible that his Paulson & Co. might sustain significant customer redemption requests this year, which may require Paulson to divest itself of some of this position. Alternatively, Paulson may have acquired more NG shares already during the third quarter, or may do so during September. Paulson's funds also combine to hold a multi-billion dollar position in the SPDR Gold Shares ETF (GLD), and has been adding to it over time.
Beyond John Paulson, NovaGold has a few other noteworthy contrarian investors, including Seth Klarman's Baupost Group. Seth Klarman is a highly regarded value investor that has a multi-decade record of outperforming the market and most peer asset managers. Mr. Klarman's investment style has been compared to that of Warren Buffett, to the extent that he usually holds investments for a long time and
Baupost first started acquiring shares of NG in the third quarter of 2011, and has accumulated more shares each subsequent quarter. At the end of Q1, Baupost owned 10 million shares of NG, or about 3.58 percent of the company. Baupost continued to acquire shares of NG during the second quarter and 2012 and reported holding 16 million shares of NG at the end of Q2, or 5.72 percent of the company. Given Baupost's prior accumulation, it appears probable that the fund will acquire more shares this quarter, and at a lower. Based on the timing of the investments, Baupost likely paid an average price of 30-40 percent more per share than the price at which they now trade.
Other large holders of NovaGold include Tocqueville Asset Management, a contrarian investment advisory firm founded by François D. Sicart in 1985. Tocqueville holds several gold miner investments and last reported holding 5,575,390 shares in NG or about 1.99 percent of the company at the end of Q2, an increase of 378,250 shares from the end of Q1. Tocqueville's gold fund holds about three quarters of the asset manager's total position in NG, or about 1.51 percent of the company.
Another large holder of NG is Fidelity's Contrafund, a mutual fund powerhouse with assets totaling over $82 billion and managed by William Danoff since 1990. Though a somewhat small position in the enormity of the Contrafund, the fund last reported holding 9,640,577 shares of NG, or about 3.45 percent of the company.
Barrick Gold tried to acquire NovaGold a few years ago. On July 24, 2006, Barrick made an unsolicited bid for NovaGold Resources, valuing NG at $1.29 billion, which NG quickly insisted was undervaluing the assets. Barrick simultaneously made a bid for Pioneer Metals, a smaller miner with assets adjacent to several of NovaGold's, which Barrick acquired. In many ways, NG was aggravating to ABX, which may now be intentionally aggravating NG and/or possibly persuading the company to sell itself to ABX.
Despite substantially increasing during August, it appears that NovaGold remains one of the markets least respected developing gold investments, both on the domestic and international scene. Further, many highly regarded investors continue to accumulate large positions in NG. If gold and miners can sustain their current levels or rise, it appears that NovaGold should continue to catch up to the group and that NG has a strong potential to outperform most of its exploratory miner peers through the end of 2012.
Disclosure: I am long NG. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
http://seekingalpha.com/article/840941-novagold-appears-poised-to-outperform-peer-developing-gold-miners?source=email_rt_article_readmore&ifp=0
John Paulson (a Venture Capitalist) is also very positive about gold
Just got in. Hear Soros sold most of his financial stock and bought gold. Believe the ETF
Going nowhere but up
Still on track, gold is weak today which is likely leading to this dip.
Certainly could based on the chart. Weekly is shaping up real nice.
ok Im with ya!
I agree. Running out of time too buy cheap shares.
Should NovaGold Be Avoided At These Levels Or Bought For The Long Term?
http://seekingalpha.com/article/799471-should-novagold-be-avoided-at-these-levels-or-bought-for-the-long-term
... "The increasing price of gold is a great catalyst to own the miners. Other reasons to own NG specifically include NG being a possible takeover target (though do not buy solely for this reason). They are also spinning off into the copper industry, increasing their metals and mining operations, through NovaCopper. Finally, there has not been any insider selling of company shares either, suggesting management isn't worried about further declines in share price. Time will tell if the major institutions that are holding NG have sold out of their positions, or are doing more buying. I would take either as a buy signal, as buying clearly suggests future strength, and selling would suggest the bottom may be in for the stock.
Bottom line, I think the gold miners are a buy right now, and I believe NG makes for a long term buy. I am closely watching the $4.00 level." ...
NG beginning to fill the gap today - no resistance to $4.60
25,691,900 shares short interest
http://www.shortsqueeze.com/?symbol=ng&submit=Short+Quote%99
(NG) If you own this.. Give me ^5
(NG) UP 4% The Redneck Researcher! This stock is like "sitting on a gold mine" Oh wait...:) Meat and Taters!!
(NG) Nova Gold is positioned perfectly!
China And Gold: A Puzzling Anomaly
http://seekingalpha.com/article/788071-china-and-gold-a-puzzling-anomaly
... "The biggest bull market of our time, we believe, will probably be in junior golds. For these the Market Vectors Junior Gold Miners ETF (GDXJ) is representative.
We would also bet heavily - but again, with a long-term time horizon - on NovaGold Resources (NG), which, despite having one of the largest untapped gold deposits in the world (and a high-grade one, at that), has been pounded because of the costs of developing the necessary infrastructure.
But one consequence of resource scarcity in its relationship to gold, which has been proved since the beginning of this century when resource scarcity became apparent, is that gold must outperform other critical commodities; otherwise it would not be able to perform its irreplaceable function as a medium for resource rationing.
We believe the Chinese see this, and that it's only a matter of time before others follow suit.
Thus we regard many-fold gains in GDXJ and a 10-bagger in NovaGold as reasonable and well-measured long-term targets for investors." ...
I agree. I bought in today at 3.87. Will buy more if it goes down a little more with the Dow.
Good Job. The shorts will cover now this week. Should get back to 5.20 range. May take a while if the dow tanks this week.
NG (NOVAGOLD, AMEX) - knee-jerk reaction, oversold ...
When the dust settles and as Gold continues to move up, anticipating NG to recover/bounce 35-40% to/@ 20MA+ on daily...
Share Statistics
Avg Vol (3 month): 3,817,180
Avg Vol (10 day): 6,595,690
Shares Outstanding: 279.53M
Float: 188.36M
% Held by Insiders1: 33.95%
% Held by Institutions1: 44.60%
Shares Short (as of Jul 13, 2012): 25.10M
Short Ratio (as of Jul 13, 2012): 8.50
Shares Short (prior month): 24.97M
Balance Sheet
Total Cash (mrq): 301.37M
Total Cash Per Share (mrq): 1.08
Total Debt (mrq): 139.22M
Total Debt/Equity (mrq): 27.43
Current Ratio (mrq): 9.16
Book Value Per Share (mrq): 1.82
Daily
Weekly
Gold Silver July 30-2012
"Big" Ben FED with QE/3 on the horizon - Gold/Silver pickers time...
IMO, this is the beginning of a run into the fall where new highs will be established by both Gold & Silver.
Gold Current - $1623.60 (up $7.50)
Silver Current - $27.79 (up $.25)
Gold - $1646 Resistance, $1560 Support
Gold Sampler At A Glance
http://stockcharts.com/freecharts/candleglance.html?AAU,AZC,CDY,EGI,JAG,KGC,BRD,GSS,NG,CGR,MDW,GBG|B|P5,3,3
Silver - $28.45 Resistance, $26.11 Support
Silver Sampler - At A Glance
http://stockcharts.com/freecharts/candleglance.html?SIL,SLV,PSLV,EXK,HL,LODE,SVBL,PZG,SVM,XPL,GPL,MGN|B|P5,3,3
It's Real Global Currency
Is NovaGold A Long-Term Buy At These Levels?
http://seekingalpha.com/article/753601-is-novagold-a-long-term-buy-at-these-levels?source=email_investing_ideas&ifp=0
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