Dallas, Texas 12/03/2013 (Financialstrend) – The NovaGold Resources Inc. (USA) (NYSEMKT:NG) seems to be pretty well positioned to move ahead with all its exploration projects as it has about C$216.6 million cash reserves in its back account at the end of this 3rd Quarter. The projects with which company is moving ahead are its Donlin Gold project in Alaska and Galore Creek copper-gold project in British Columbia.
Recently at the Denver Gold Forum meet the Novagold president Mr. Greg Lang told everybody that no matter how turbulent the current time is the company has enough cash to move ahead with all its ongoing projects. Moreover the company has also de-risked its balance sheet by exiting out of the Rock Creek and Ambler assets.
How NOVAGOLD became a precious metals company in North America?
If recent estimates are to be believed NovaGold Resources Inc. (USA) (NYSEMKT:NG)’s current flagship asset is its Donlin Gold project in Alaska. The permit for this project was given in 2012 and this project is considered as one of the most substantial resource for Novagold. All the factors which are related to this project seem to be quite favorable for the minerals company. The favorable factors include size, grade, production profile, exploration potential and jurisdictional safety.
The internal sources term it is one of the most significant and underdeveloped gold exploration projects in the world and there is a strong possibility of finding huge quantities of gold which might spell wonders for the Novagold. The latest feasibility study also indicated that the Dolin Gold project might be able to produce more that 1million ounces of gold annually and it has a 27 year mine life. Now that seems to be a huge number and this project will help the company to become more profitable and full of cash.
Apart from Donlin gold project the company also holds good percentage of stake in other projects which also seems to be favoring the company.