NovaGold extended its winning streak to a third consecutive day on Wednesday, surging 10.30 percent to close at $6.21 apiece after expanding its gold portfolio with the full acquisition of the Donlin Gold project in Alaska.
In a statement on the same day, NovaGold Resources Inc. (NYSEAmerican:NG) said that it entered into a definitive agreement with Paulson Advisers LLC to acquire the latter's entire 40 percent stake in the project through an all-share transaction valued at $4.2 billion.
NovaGold Resources Inc. (NYSEAmerican:NG) will effectively own 100 percent of Donlin Gold—whose projected annual 1.3-million-ounce gold production in its first decade and 1.1-million-ounce gold production over the 27-year mine life is expected to render it the largest gold development project in the US.
It currently holds approximately 40 million ounces of measured and indicated mineral resources, which represents more than twice the industry's average grade.
For illustration purposes only. Photo by Tom Fisk on Pexels
#novagold #nyseamerican #production
In a statement on the same day, NovaGold Resources Inc. (NYSEAmerican:NG) said that it entered into a definitive agreement with Paulson Advisers LLC to acquire the latter's entire 40 percent stake in the project through an all-share transaction valued at $4.2 billion.
NovaGold Resources Inc. (NYSEAmerican:NG) will effectively own 100 percent of Donlin Gold—whose projected annual 1.3-million-ounce gold production in its first decade and 1.1-million-ounce gold production over the 27-year mine life is expected to render it the largest gold development project in the US.
It currently holds approximately 40 million ounces of measured and indicated mineral resources, which represents more than twice the industry's average grade.
For illustration purposes only. Photo by Tom Fisk on Pexels
#novagold #nyseamerican #production
10 days ago
