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NovaGold Resources (NG) sells a 26.4M share block of stock to a syndicate of underwriters, led...

NovaGold Resources (NG) sells a 26.4M share block of stock to a syndicate of underwriters, led by RBC and JP Morgan, for $9.50 per share. The sales will result in gross proceeds to NovaGold of approximately $251M, for which the underwriters will then turn around and sell the shares to the public. Shares -7.4% AH and currently halted.
Comments (2)
  • AVALON81
    , contributor
    Comments (20) | Send Message
     
    As a small share holder, I've wondered about the curious activity for the last few weeks, especially today when even the market dogs were going up with almost no volume to speak of. I've expected ABX to make another try to buy NG. Let's hope they come to reasonable terms this time around. If not, surely there are other major miners that are in the market for a prize like Neo Gold. The Donlon Creek mine should be producing just before Barrick's mines play out. Not so good for their own stock prices. :-)
    1 Feb 2012, 11:29 PM Reply Like
  • AVALON81
    , contributor
    Comments (20) | Send Message
     
    Rather than 'not so good', I should have said, 'a timely and much needed acquisition'. :-)
    2 Feb 2012, 12:02 AM Reply Like
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