Replies to Post #370456 onORIONS Money Stocks

Replies to #370456 on ORIONS Money Stocks

07/25/16 11:40 AM

#370458 RE: AugustaFriends #370456

NG Charts NovaGold has huge leverage to gold prices, plain and simple. The company owns 50% of the massive Donlin gold project in Alaska in a joint venture with Barrick Gold (NYSE:ABX). Again, this gold project is just massive, as it contains 34 million ounces of gold in reserves at 2.09 g/t (almost double the world average for gold mines) and an additional 6 million ounces in inferred resources (2.02 g/t).
Once in full production, the mine is expected to produce well over 1 million ounces of gold annually over a 27-year mine life - there's 5 other mines currently producing that much per year. All-in sustaining costs are expected to average just $532 over the first five years of production and $735 per ounce over the life of the mine.
The thing about NovaGold that's interesting is despite already discovering 34 million ounces of gold, the deposit still has some exploration upside. The company feels there is good potential to expand the current open-pit resources at Donlin outside of the Acma and Lewis pits. In addition, there are 6 million ounces of inferred resources which could be converted to reserves with further drilling. So the mine life of 27 years may actually be increased.
http://seekingalpha.com/article/3984400-3-gold-exploration-companies-strong-takeover-targets?li_source=LI&li_medium=liftigniter-widget

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