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Gold/Mining/Energy : NOVAGOLD RESOURCES INC. (TSE:NRI; OTC BB: NVGLF)
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To: Elizabeth Andrews who wrote (26)3/22/2002 3:31:23 PM
From: philv  Read Replies (1) of 137
 
Hi Liz:

This IS essentially Placer's property unless they elect to let it go. I have tried to look at it from Placer's point of view. I don't think they would allow fraud as long as they are associated with the property. The two companies--NRI and Placer have another relationship through their directors. Besides, by far, most of the drilling had been performed by PD.

I think NRI is trying to force Placer's hand in making a far quicker decision then they had originally planned. That may be in NRI's favour. However, it all hinges on the economics after all, and specifically the POG and mining costs. That should be what the debate revolves around. I don't think anyone doubts that there exists a very large deposit. That too will be resolved with further drilling.

Phil
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