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I am grateful to Thomas Tan for delivering such an informative assessment on NG: something I have been waiting for from NG's management. About OI, I was misled early last January by their incitement to buy "up to $ 12.3". To date, I have seen about one third of my NG shares crumble day by day, also due to the sinking dollar (I live in Italy, in the euro zone).
May 15 04:56 am
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All Comments by marco giacinto »How Much Is NovaGold Worth? [View article]
I was not happy to read in Tan's report that Nome is worth around $ 400 mil, whereas the market cap is currently ca. $ 800 mil, i.e. twice as much. Giving the probable start of cash flow from Donlin Creek in 5 years from now, how can we expect the shares to grow again in mid-2008, when cash will commence flowing from Nome operations? Shouldn't this be seen as a warning, alas, that $ 7-8 is double the current worth of NG, even after cash flow from Nome will start, at long last? I would appreciate an answer from Mr. Tan.