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NOVAGOLD

TICKER: NG:TSX; NG:NYSE.MKT

NOVAGOLD is well-financed precious metals company engaged in the exploration and development of mineral properties in North America. The company is focused on permitting and developing its 50%-owned flagship property, Donlin Gold, one of the world's largest known undeveloped gold deposits. The Donlin Gold project commenced permitting in 2012, a clearly defined process expected to take approximately four years. NOVAGOLD is also committed to maximizing value of its non-core assets and is currently exploring opportunities to sell its interest in the Galore Creek copper-gold-silver project in British Columbia, Canada.


The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.

Expert Comments:

The Mining Report Interview with Stephan Bogner (4/1/14) "Keep NOVAGOLD on your radar as well. Once gold prices pick up, this company is ready to either advance its Donlin property into a mine or be taken out." More >

Jeff Desjardins, Tickerscores (3/13/14) "NOVAGOLD owns 50% of one of largest undeveloped gold projects in the world in the Donlin Creek gold project. . .the company's balance sheet is strong with $191M in cash, which will easily move it through the permitting stages."

John Bridges, J.P. Morgan (2/18/14) "Gold deposits of NOVAGOLD's Donlin Gold's size are rare, and large deposits in politically safer locations are even more unusual. . .we estimate that the 34 Moz Au Donlin deposit is the fourth-largest undeveloped gold deposit worldwide. . .the company also owns a 50% interest in the Galore Creek project in British Columbia with Teck Resources Ltd., which contains reserves of 6.8Blb Cu, 5.45 Moz Au and 102 Moz Ag."

The Energy Report Interview with Porter Stansberry (1/30/14) "I like NOVAGOLD because it has an absolutely ironclad balance sheet. Whether the price of gold goes up or down this year, there is no way that it can or will go bankrupt. It has around $200M in cash on its balance sheet, and it has two gold projects that have very high-grade ore that are very likely to become mines. I view the shares of NovaGold, which are still below $3, as essentially a call option on the price of gold. This company will certainly be solvent for the next two or three years, and if the price of gold were to go up in that period, the share price would probably go to $10 or $20. It's a safe way to speculate on a higher gold price going forward." More >

The Gold Report Interview with Mike Niehuser (12/4/13) "A big project that I believe still has potential is in Alaska. . .NOVAGOLD is divesting noncore assets and focusing on advancing Donlin Creek, arguably one of the world's largest undeveloped gold deposits, which will benefit from an increase in gold prices." More >

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Adam Graf, Cowen & Co. (11/8/13) "NOVAGOLD is primarily advancing the 50%-owned Donlin gold project in Alaska. A feasibility study released in early 2013 demonstrated the sheer size of the project, which is capable of producing 1.5 Moz gold annually over its first five years at cash costs of $409/oz and 1.13 Moz gold annually over its 27-year mine life at $585/oz. . .the company's ~$200M cash balance should be more than sufficient to take it through permitting."

The Gold Report Interview with Greg Dorsey (4/17/13) "NOVAGOLD has a $1B market cap. Its flagship project is Donlin, which it is developing with Barrick in Alaska. This high-grade deposit has close to 40 Moz gold. It is going into the permit stages and is years away from production. But in the meantime, while we are waiting, we expect the price of gold to rise. The stock is currently trading at the very small faction of the value of its reserves, offering tremendous leverage on the way to those reserves being extracted. A lot of smart people, including very successful hedge fund managers, like NOVAGOLD. . .we think this will be a $30 or $40 stock at some point." More >

Paolo Lostritto, National Bank Financial (2/25/13) "NOVAGOLD's exploration success at Galore Creek highlights scale and further potential. . .based on the results of the 2012 drill program, the partnership plans to update the Galore Creek resource. . .we reiterate our Outperform rating and $9.30 price target."

The Gold Report Interview with Byron King (12/19/12) "I've kept an eye on NOVAGOLD in Alaska. It has spun out the Ambler project into NovaCopper Inc. . .they are great assets, run by very solid management. NOVAGOLD and NovaCopper are two nice plays." More >

Brien Lundin, Gold Newsletter (Jefferson Financial) (10/8/12) "NOVAGOLD has hired David Ottewell to step into the roles of vice president and chief financial officer for the company. . .Mr. Ottewell will help NOVAGOLD move its world-class Donlin Gold project in Alaska through the permitting and constructions phases and (hopefully) into the operation phase. Donlin Gold's gold inventory exceeds 39 Moz in the Measured and Indicated categories alone."

The Gold Report Interview with Mike Niehuser (9/7/12) "In 2004, I found NovaGold Resources Inc. and fell in love with the mining industry." More >

Brien Lundin, Gold Newsletter (Jefferson Financial) (7/31/12) "NovaGold Resources Inc., in conjunction with joint-venture partner Barrick Gold Corp., has given its blessing to an updated feasibility study for Donlin Gold, the partnership's shared, world-class gold asset in Alaska. . .the company has a huge cash hoard of $300M, an amount that should allow it to cover its share of the financial obligations associated with the Donlin permitting process. . .NovaGold Resources still boasts a 50% stake in one of the largest, most attractive undeveloped gold projects on the planet."

Paolo Lostritto, National Bank Financial (7/27/12) "The continued commitment to permitting process highlights the imbedded option value at Donlin. Based on our base case assumptions we believe the internal rate of return for the Donlin gold project is ~5.5% using US$1,200/oz. . .we maintain our Sector Perform rating for NovaGold Resources Inc."

Pope & Company Morning Notes (7/12/12) "NovaGold Resources Inc. announced that the Donlin Gold LLC board of directors, which is comprised of equal representation from NovaGold and Barrick Gold Corp., has approved the updated Donlin Gold feasibility study, which forms the basis of the technical report filed by the company earlier this year. . .when the permitting process nears completion, the owners of Donlin Gold will be in an optimal position to make further decisions on the project. . .Nova Gold has a strong balance sheet to support its share of activities through permitting and a production decision."

Paolo Lostritto, National Bank Financial (6/12/12) "Would a Donlin-only NovaGold Resources Inc. be more attractive to Barrick Gold Corp.? We believe so, as it would be easier for Barrick Gold to absorb a single-asset NovaGold Resources. . .our valuation does not include takeout valuation or the strategic value offered by this politically safe megaproject with excellent exploration potential. . .the transfer of Rock Creek to Bering Straits Native Corp. eliminates another noncore asset as focus sharpens on Donlin Gold. . .and the company is currently evaluating its options to monetize Galore Creek."

Pope & Company Morning Notes (6/12/12) "NovaGold Resources Inc. signed a purchase and sale agreement to transfer the Rock Creek property in Nome, Alaska, to Bering Straits Native Corp.; the Rock Creek transfer further simplifies the company's asset structure to focus on advancing its 50%-owned Donlin Gold project toward permitting. NovaGold is committed to working with the new leadership at Barrick Gold Corp. and all key stakeholders to advance Donlin Gold up the value chain."

The Gold Report Interview with Byron King (6/8/12) "For someone with a two- to three-year timeframe and a reasonable tolerance for risk, NovaGold Resources Inc. is making good progress up in Donlin Creek, Alaska. Donlin Creek is one of the world's largest new gold plays with well over 30 Moz Identified. You cannot ignore NovaGold as an important player in the coming years. . .I anticipate an eventual takeover by Barrick. If I were Barrick's management, I would want to add the entire body of that gold resource to my bottom line for my own defensive purposes and to impress the stock market."

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