I have a good track record so far on here and my brokerage account says I have a good record too. Im going to tell you this in all seriousness and with my best judgement. If you do not get in on Novagold today then you will be paying higher prices later on. NG is poised to double or triple from this point.
NovaGold Resources Inc. today announced that it is proposing to issue 18,181,818 common shares of the Company at a price of US$5.50 per common share for gross proceeds of US$99,999,999 (the "Offering") to several investment funds managed by Paulson & Co. Inc. http://finance.yahoo.com/news/NovaGold-Announces-US100-iw-3135072831.html?x=0&.v=1 Stock up 3%.
NovaGold Resources Inc. NovaGold Resources Inc. announced that it is proposing to issue 13,636,364 common shares of the Company at a price of $5.50 per common share for gross proceeds of $75,000,002 (Soros Offering) to Quantum Partners Ltd., a private investment fund managed by Soros Fund Management LLC. This is in addition to the $100 million financing announced by the Company on March 4, 2010 (Paulson Offering). The gross proceeds to be raised under the two financings total $175 million. http://www.reuters.com/finance/stocks/keyDevelopments?rpc=66&symbol=NG×tamp=20100308132500 Lol. 2 of the biggest Wall Street cats of our time pumping money in it.
Soros also doubled his gold holdings in Q4 2009. Looks like I have at least two investments that Soros believes in... only I paid less for both gold (physical though, not GLD) and NG than Soros did. I think he still has me beat in net worth.
Same here with one side note, Soros has been a Novagold share holder for quite some time now, he just added to this position. Also notable is the fact that Faber is an advocator of NG as well for quite some time now. He said it could easily reach 20$ a share. Some mystics about this stock also, which I never took seriously really, but now Paulson and Soros are jumping in I'm beginning to doubt if the mystics perhaps couldnt be true indeed. Good luck anyway.
Fascinating little stock. 15m oz of reserves. Lets say $500 margin per oz. Thats 7.5B. Discount that in half, 3.75B. Looks like a triple based off market cap. http://www.novagold.com/upload/investor_info/NG_FactSheet.pdf The Paulson and Soros $$$ are a vote of confidence in management to execute. Thinking of moving some of my ABX exposure over to this.
Happy I didn't wait. Bought some at 6.42 today. $20 is very doable. And if gold were to double (assuming it became bubbly) while costs stayed the same, that puts you at a 22B valuation (20x today's value). Chop that in half to discount, and you are at a $60 price target. Ten times price leverage whereas something like ABX has 3-4 times at the same level. I like it, and it seems the rest of the market does as well. Dilution at higher price levels from the right players means these projects come to fruition. I think its safe to say a double or triple will happen even if gold prices don't move. The current price is a function of the early stage of their primary Dunlin Creek project, and uncertainty associated with it.
Jeey, we made the WSJ. Should You Join The Next Gold Rush? http://online.wsj.com/article/SB10001424052748704486504575097952013959926.html
Is This âThe Worst Trade Everâ? http://blogs.wsj.com/financial-adviser/2010/03/11/is-this-the-worst-trade-ever/