$6.10
-0.25 (-3.94%)
NovaGold Resources, Inc. (USA) (NG)
CAPS Rating:
The Company is engaged in the exploration and development of mineral properties in Alaska and western Canada and is primarily focused on gold properties, some of which have significant copper and silver resources.
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Living in interesting times. Major world currencies flooding their markets with cheaper Dollars, Euros, Yen, etc. makes me wonder. Major markets and economies tumbling down, panic on the streets, and oil is dirt cheap relative to six months ago. So, what's missing from this picture? The blood is what is missing for the moment.
My Grandfather and Father always told me that the time to move in the market was when there was blood on the streets or shortly after bubbles burst. Too many times were they right on that and I'm listening to them. Safety is the major concern right now, financial safety in this case but also future recovery as well. Therefore gold seems to be something worth having and those who mine it.
So, now (relatively speaking) is the time to move. Granted I've made other moves prior to this but this company looks pretty good, Their mines are producing, fresh infusion of cash to work with, severally beaten down share price, and insider and institutional buying makes it real tempting buy.
Therefore, looking to the future and eventual economic recovery in late 2009 or early 2010, gold for safety now and gold for industry during the recovery. Throw higher inflation into the mix because of the recovery and higher prices to come. I believe there will be a very multiple price increase in this stock price and gold in general. I'm in.