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From: ItsAllCyclical	7/25/2006 10:21:31 AM
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(edit) Novagold responds to Barrick. biz.yahoo.com Still reading myself. >> At this stage, NovaGold owns 70% of the Donlin Creek project and Barrick owns 30%. NovaGold management believes that it will not be possible for Barrick to meet all of the terms and conditions of the earn-in agreement to obtain an additional 40% interest in the Donlin Creek project. These terms and conditions include Barrick completing a bankable feasibility study(1) and receiving approval of its board of directors to construct a mine by November 2007. << Key pt for those who don't follow the story closely. >> NovaGold management believes that the Barrick offer for NovaGold values the Company at approximately $35/oz of gold resource, << Could/Should easily go more for $50-75/oz+. We'll see. I still think around $20 US is the most likely scenario, but given the resources it would add to any major I wouldn't be surprised to see a higher bid.

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