AceofKY Posted January 3, 2008 Report Share Posted January 3, 2008 Nova Gold had so many of the qualities you look for in a mining company. It ticked all the boxes. It had: - Fantastic properties with vast amounts of metal in the ground. Galore Creek was never a fantastic property. It was just big. If the author of this had read the feasibility study he would have known that Galore Creek was a marginal property to begin with - even before the capital costs skyrocketed. I never thought the project would be entirely canceled, but I was concerned enough about it to stay away from investing in NG. Here is a link from a discussion of this back in July: Galore Creek: Marginal Economics Link to comment Share on other sites More sharing options...
drbubb Posted January 3, 2008 Report Share Posted January 3, 2008 Ace, I bought NG calls in late Dec. Before the lows, but I am in profit now. How much further do you think it will bounce? Link to comment Share on other sites More sharing options...
AceofKY Posted January 4, 2008 Report Share Posted January 4, 2008 oops...sorry Frizzers I didn't realize you were the author as I didn't click the link the first time. I agree with most of your points except for Galore Creek being fabulous and the necessity of owning gold rather than the equity in gold miners. The latter seems to be your thesis, however, so I guess I'm in disagreement here. Bubb, I have no clue on short-term bounces. Your indicators are better than mine. I do think NG is a better investment now than it was a couple months ago. Donlin seems to be a slightly higher grade deposit. It's going to be the same situation, however, as far as requiring huge capex. So which is going to win the race: construction inflation or price of gold? I'm trying to stay away from these high capex/low grade miners now. Looking for more GORO types. YNG.to also looking good the past couple of days. Link to comment Share on other sites More sharing options...
frizzers Posted January 4, 2008 Report Share Posted January 4, 2008 Ha , no problem , Ace. It was just a bit of journalistic licence. Nova is up nearly 20% this week. Link to comment Share on other sites More sharing options...
vssmnn Posted January 4, 2008 Report Share Posted January 4, 2008 Guys, I think perhaps it would be interesting to look here because the "nearfield" of Barrick: http://www.romios.com/s/Home.asp Link to comment Share on other sites More sharing options...
deeper Posted January 4, 2008 Report Share Posted January 4, 2008 romios is next to galore creek/ teck not barrick... Link to comment Share on other sites More sharing options...
vssmnn Posted January 4, 2008 Report Share Posted January 4, 2008 romios is next to galore creek/ teck not barrick... sorry, OT, you are right, I mean this: Barrick's Eskay Creek in 2006, Eskay Creek produced 113,000 ounces of gold at total cash costs of negative $106 per ounce of gold, net of silver by-product credits. As the mine approaches the end of its reserve life in 2008, lower availability of high-grade direct-to-smelter ore is resulting in the mining of more lower-grade ore tons, leading to lower gold production in 2007. There are a Barrick production facility with decreasing resources, ready to use for Third parties like Romios. Link to comment Share on other sites More sharing options...
drbubb Posted January 5, 2008 Report Share Posted January 5, 2008 Nova is up nearly 20% this week. Sold my Calls as NG zoomed to $12- cashed a nice fat profit. Link to comment Share on other sites More sharing options...
chkitas Posted January 30, 2008 Report Share Posted January 30, 2008 Galore Creek; Nova Gold Nah, Barrick did not have a conspiracy. I worked there I was a key person in the project, let me state my opinion my I suggest and welcome others opinions My opinion is this that a lot of the funds were mismanaged, HATCH assessment cost to was on budject if the peoples would've followed protocol and what the plan was none of this would of materialized, may I suggest Safety at the most the lost time of the injuries that accured there, the Doctor on site and paramedics being fired not one but 6 times for wanting to report their claims. They claim they have an excellent lost time record IF the Doctors at Smithers hospital could tell a story there would not be enough time in a decade to acount all the critical injuries and the ones swept under the table by so so threaths.... may I suggest Why weren't WSB claims paid by company that the employees had to pay out themselves may I suggest What about the law suits coming forth from some accidents/injuries or mental abuse, in camos like that the primary company can be named in law suits, may I suggest Environmentally the carbon monoxide coming from the TUNNELLING wow exceed amounts are mild, what about the incinerator they would burn everything down to chemical can spray can to name a few, may I suggest Management of the MI 26 and other Helicoptors, having them flying the management [project managers, safety managers and so forth]here and there for lunches, alcohol, or gathering not work related. Flying people around for tours not counting NOVA GOLD or TEC Inspection may I suggest On Site Project Manager that did not know even file for exploration permit let alone mining permit for the start of the drilling on the face, leading on the EBC NEILSON company thinking and verbally admitting that NOVA GOLD had their Mining permit as Tunnelling fell under mining why did they lie, to have some girl cause a roar that knew her stuff to open alot of peoples eyes to have that company do illegal actions because NOVA was hidding that they did not have a MINING PERMIT oh yeah and getting the blasting on site with the goverment refusal that was a hoot. Why did they not hire a Project Manager that knew what he was doing???? may I suggest What about BC Mining goverment waiving their 30 day publication for application for mining permit that again if they would've done what the law stated that all must apply and wait their 30 days the application would not of went through at all, may I suggest Logging another one fifty or more rooms to a trailer two toilets and oh yeah having up to three people staying in a room 8x6 or sleeping off shift, what about the camp situated right on the path of avalanche path??? kitchen well that is a whole other situation, no water for up to 3 days at a time, bread being flown under the helicopter diesel flue immission which lead to a lot of bread being contaminated and people sick extremely sick, how about food/meat that was green??? sometimes no food, may I suggest All of these acts are and were unwanted and cost NOVA GOLD money but not as much money as flying in equipment promising construction company certain hours usage on the machine only to have them sit there in the middle of no where and not touch however the funds were paid out OPS WAIT, July going into the end August did you know that the majority of the companies had not even received one penny from NOVA GOLD not one since April, 2007 Right there alot of flags want up and alot of companies started to put two and two together, may I suggest That is not to say September and so forth so where did the monies go to??? may I suggest Having roads started and build that were not on the blueprints!!!!! may I suggest I can sit here and go on and on however these little things cost a lot of monies like they say it is the little pennies that will kill your pocket. What about the big picture of it all where did it all go??? WHY .... is the conspiracy internal, may I suggest 12 to 18 months to sort out everything if TEC was as good as their reputation is they would hire outside firm to do investigation of all that was happening and the why??? c Whilst i am not big on conspiracy theories i do believe market manipulation occurs. In the Gold world there are a host of commentators claiming barrack manipulates the market and is in the Feds pockets. Could today’s drop be engineered to encourage Nova Gold shareholders to turn in there shares to barrack as they fear a significant drop as the offer expires today and hance increase Barricks market control?? Just a thought….. Link to comment Share on other sites More sharing options...
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