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AGORACOM WIRE - WEDNESDAY MAY 30TH, 2012

GOLDEN HOPE MINES (TSXV:GNH) Confirms High Grade Intersection of 64.1 g/t Au (Gold) over 1m Read More

The screen metallic analysis returned 82 g/t Au for an average grade of 93.5 g/t Au.
Two additional fire assays on the original pulp done prior to the screen metallic analyses returned 0.22 g/t Au and 0.12 g/t Au for an average fire assay grade of 0.41 g/t Au. The weighted average of all the fire assays and screen metallic assays from this 1-metre section in hole BD2011-184 is 64.1 g/t Au.

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CONTINENTAL ENERGY Geothermal Energy Project Receives US$ 11.5 Million Grant Read More * Client

AGORACOM Launches Graphite Stocks Blog

Message: Some Financing is Freeing Up - Good News For Nova Gold

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Some Financing is Freeing Up - Good News For Nova Gold

posted on Jan 04, 09 02:25AM

Beleaguered NovaGold finds a major investor

Posted: January 02, 2009, 11:45 AM by Peter Koven

Almost nothing has gone right lately for NovaGold Resources Inc.

After rejecting a hostile US$1.7-billion takeover from Barrick Gold Corp. in late 2006, the company's stock price has tumbled off a cliff for a number of reasons. Those include huge cost overruns at its Galore Creek project in British Columbia, and the suspension of its Rock Creek mine in Alaska due to operating and environmental problems.

On Friday, the company finally offered investors some good news: a major strategic investment. A New York-based company called Electrum Strategic Resources LLC has agreed to buy about 30% of NovaGold in a US$60-million private placement. The deal will help NovaGold pay off a key bridge loan and advance its projects.

Electrum chief executive William Natbony noted in a statement that NovaGold is "exceptionally well positioned to advance its operations along the value chain and maximize the returns for all shareholders." It is an opinion that many other investors have not shared for a long time, as they worry about any junior mining company's ability to finance multi-billion-dollar developments such as NovaGold's Galore Creek and Donlin Creek projects.

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