The Cliff - Novagold's Galore Creek
Have a look at NovaGold... It fell off a cliff yesterday.
Teck Cominco backed out of funding this copper, gold and silver mine construction. A lot of money has already been spent here, and it was just halted. It is called reassessing the market, cut your loss and run.
The measured resource grade is 0.59% copper, 5.64 g/ton silver and 0.33 g/t gold. At current prices this works out to about $50/ton metal values.
The metal grade on NovGold's resource is better than the metal grade for Augusta Resource, AZC, about 16% better.
I did a post on AZC ago because some one asked me why I underperformed it and I gave my reasons. Not getting funding for their project wasn't on the list, but it certainly looks like that idea could be added to the list...