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GOLD - NovaGold Resources: An Attractive Project At A Not So Attractive Price
Barrick Gold Corporation
NovaGold owns 50% of the world-class Donlin Gold Project.
Donlin contains reserves of 33.8 million toz gold.
The old feasibility study envisions an average annual production of 1.1 million toz gold over 27-year mine life, but the initial CAPEX should be as high as $6.68 billion.
An updated feasibility study should be released later this year.
Given the current gold price and the high CAPEX, NovaGold doesn't offer much upside potential at its current valuation.