Traders Cooperative

[ItsAllCyclical]

Novagold - If Teck is paying about 500 mil initially and they split the costs thereafter and the total mine cost is about 2 bil then Tech essentially paid 1.25 bil total assuming costs stay w/in estimates. More than likely it'll go up more. Seems like a basic question, but there was a lot of confusion on the CC about the total costs being paid. Didn't see my question directly addressed. Is this how you interpret? Office is closed till 1:30 PM today. Pretty tepid reaction from the market considering the good news. 4 possible explanations:

1) Mine is still a long ways from being built
2) Many technical hurdles to overcome
3) Overall sector is still near the lows
4) News isn't as good as we think

Seems undervalued to me here again and relatively low risk, but not in a hurry to get back in given the overall sector weakness. We may be at a good buying op now or we may still have downside to 640-630 POG or less. Hard to say.