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NovaGold (NG -21.2%) shares plunge after Barrick Gold (ABX) indicates it may not invest...

NovaGold (NG -21.2%) shares plunge after Barrick Gold (ABX) indicates it may not invest significantly in the jointly-owned Donlin gold deposit because of the large initial capital investment required to launch it. ABX did add that Donlin represents a "valuable long-term opportunity" and would advance permitting activities at the site at reasonable costs.
Comments (3)
  • Stoploss
    , contributor
    Comments (1727) | Send Message
    Code for: we're broke, spent all the capex funds years ago.
    26 Jul 2012, 11:51 AM Reply Like
  • TDWelander
    , contributor
    Comments (639) | Send Message
    No. It is a signal to any high cost start up. We will go slow looking at
    costs under a microscope. Other, much more attractive gold mining and refining developments have a higher priority due to higher profitability. Go read the annual report to know what the priorities are on new property development.
    26 Jul 2012, 06:28 PM Reply Like
  • Chris Lau
    , contributor
    Comments (1933) | Send Message
    Baupost's klarman held NG. Maybe ANV or GORO is a gold company to buy. Or GG
    26 Jul 2012, 08:03 PM Reply Like
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