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NovaGold Resources: What A Slide

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  • The outstanding diluted and the long-term debt are kept at the same level, and the total cash is $155.13 million at the end of the 1Q22.
  • The 2021 drill program was successfully completed, with 79 holes (24,264 meters) drilled in the ACMA and Lewis pit area.
  • I recommend buying NG at or below $6.10.
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Macro picture of a raw golden nugget found on a mine

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NovaGold Resources (NYSE:NG) owns 50% of a gold project in Western Alaska called the Donlin Gold Project. The joint venture is shared with Barrick Gold. The company released its first-quarter results on April

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This article was written by

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Fun Trading is a retired engineer and independent investor. In addition to writing on investing in all aspects of gold, oil, and gas, he runs his own portfolio..

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in NG over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (4)

In my opinion this is not a good imvestment. Barrick has better projects and is likely to wait for much higher gold prices before building Donlin. Currently the project is not attractive.
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Not sure about it. If GOLD is still in the game, it may have some attractiveness. However, it is long before the project gets the green light. As always in this segment, be very careful and take all the "studies/presentations" with a grain of salt. Below $6, it may be time to buy a little.
@Fun Trading I think that Donlin, if ever built, will end up a lot more expensive then estimated. Cote project shows the effects of inflation (IAG down 25% today) and Donlin is in a very difficult location - construction costs are likely to be extremely high. It is not my piece of cake. Barrick is likely to be busy with their Pakistan project for a while and just wait forever before starting Donlin, if ever.
Fun Trading profile picture

Well said, I agree. The cost of building Donlin will be high. I only trade NG and do not want to get involved too early in this process.
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