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Gold/Mining/Energy : NOVAGOLD RESOURCES INC. (TSE:NRI; OTC BB: NVGLF)
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To: Elizabeth Andrews who wrote (89)12/23/2002 1:49:10 AM
From: philv  Read Replies (2) of 137
 
Elizabeth: You have never liked this play. Looking back on this thread, your disdain for this project is obvious, even calling it a POS. (http://www.siliconinvestor.com/readmsg.aspx?msgid=17240183)

I made some decent money, sold half due to some doubts, and am now regretting it, because the stock has moved considerably higher. Very soon the rubber hits the pavement, perhaps as early as next month when PDG must make known their elective plans. As far as the economics of this project is concerned, the rising POG certainly makes it more probable that a mine will be developed, perhaps with other partners.

Can't blame anyone for taking profits, and I can think of some reasons why people are selling now, but it would only be a guess. PDG knows exactly what they have, and have a good idea how much. I think it is true that they are forced into a decision much sooner than they had originally planned. They had previously put $30 million into drilling the resource, and that is a consideration for them too. I know you like to focus on the challenges for this project, and they are great, but so are the rewards.

I will hang onto my remaining stock (I actually added some on a recent low) until this plays out very early next year.

Phil
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