Use access key #2 to skip to page content.

XMFSinchiruna (26.54)

Nova Gold Swings to Profit - Still Time to Get In



April 15, 2008 – Comments (4) | RELATED TICKERS: NG , ABX , TECK

NovaGold Resources Swings to 1Q Profit
Monday April 14, 5:43 pm ET Halting Construction at 1 Site, Stock Sale Lifts NovaGold Resources to 1st-Quarter Profit

VANCOUVER, British Columbia (AP) -- NovaGold Resources Inc. said Monday it swung to a profit in its fiscal 2008 first quarter as it sold shares in another gold mining company and halted construction at a Canadian mining site.

In the three months ended Feb. 29, NovaGold earned 28 million Canadian ($28.6 million), or 26 Canadian cents (26.6 cents) per share, compared to a loss in the year-earlier period of 4.9 million Canadian, or 5 cents per share.

The increase followed a 15.3 million Canadian ($15.6 million) gain from selling shares in Denver-based US Gold Corp. and a reduction in the estimated costs for suspending construction at Galore Creek, a 50-50 joint venture with Teck Cominco Ltd. in northwestern British Columbia.

Analysts polled by Thomson Financial expected, on average, the company to lose 1 cent per share in the quarter.

Revenue for the three-month period climbed to 1.7 million Canadian ($1.7 million), from 1.1 million Canadian in the year ago. Most of the increase was from land sales.

NovaGold is a development-stage mining company that holds interests in copper and gold resources in Canada and Alaska.


4 Comments – Post Your Own

#1) On April 15, 2008 at 7:37 AM, XMFSinchiruna (26.54) wrote:

One of my very first blog posts was about NG.  Take a look, for some context on the current share price.


Report this comment
#2) On April 15, 2008 at 8:25 AM, ATWDLimited (< 20) wrote:

YAH!!! Gold is poised to sky rocket, faster than energy prices I hope.
BTW, did you recheck my blog, I ansewered your question about how I got the document on it.

Report this comment
#3) On April 15, 2008 at 10:05 AM, XMFSinchiruna (26.54) wrote:

cool... thanks.  :)

Report this comment
#4) On February 09, 2009 at 10:17 PM, FiatFaux (< 20) wrote:

Nova Gold secured financing.  They're sitting on a mother lode of gold & copper.  Copper just bottom bounced and gold is headed for the moon, with global fiat currencies headed down the toilet.  I grabbed some when it went under a dollar. ;)

Report this comment

Featured Broker Partners