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Gold/Mining/Energy : NOVAGOLD RESOURCES INC. (TSE:NRI; OTC BB: NVGLF)
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To: philv who wrote (40)3/25/2002 2:12:00 AM
From: Artie  Read Replies (1) of 137
 
Re: how can NRI raise the $600 mil? Well, the Canadian Mines Handbook 2001-02 shows NRI with a working capital deficiency of C$2.6 mil on Feb 28, 2001 with 23 mil shares outstanding. Its sister (father) company, Etruscan (EET:TSE), reported a wc def of $400k as of Aug 31, 2000.

Since then, NRI has been able to overcome that wc deficiency and, reportedly, intends to spend an additional total of US$10 mil on Donlin by the end of 2002. And, during the period, NRI's share price increased 1000% while the # of shares outstanding increased about 20% - and the POG remained ho-hum.

If they can pull that bunny out of the hat, and it lives, there should be no problem coming up with a 600 million dollar elephant.
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