Trade Novagold Resources
NOVAGOLD is a Canadian company seeking to develop the Donnellin gold mine in Alaska. The company is headquartered in Vancouver and is listed on the New York Stock Exchange and the Toronto Stock Exchange. The company was founded in Dartmouth, Nova Scotia, in 1984, to pursue exploration and development of mining properties. While the company bought and sold many exploration rights throughout North America, it focused mainly on four properties. They developed and operated the Murray Brook mine in Nova Scotia from 1989 to 1992 and developed the Rock Creek mine in Alaska but failed to meet the financial obligations that forced it to close shortly after it opened in 2008. They conducted exploration and development work at the Galore Creek mine in British Columbia between 2003 and 2018, but sold its interests. The development of the Donnellin gold mine has been pursued since the formation of a joint venture with Barrick Gold in 2012. Novakan Mining Resources was founded in 1984 in Dartmouth, Nova Scotia. THE COMPANY WAS RENAMED NOVAGOLD RESOURCES INC. IN 1987, WHERE IT BECAME LISTED ON THE TORONTO STOCK EXCHANGE WITH AN INITIAL PUBLIC OFFERING OF $2.5 MILLION. The company raised additional funds through private placements and was able to buy and sell many metal prospecting properties. They managed to acquire and successfully develop the Murray Brook mine. A small low-quality mine began producing gold and silver commercially in 1989, and despite the investment of advanced technology to expand its mining life, it was closed until 1992 due to debtowed by the National Bank of Canada, which financed its construction. NovaGold sought to expand, but only got (71%) control the interest, in Etruscan Enterprises Ltd. for their properties in the Northwest Territories. After Rick van Nieuwenhuyse took over as president, and then as CEO, the company bought Alaska Gold In 1998 for rock creek property in Alaska.NOVAGOLD moved from Dartmouth to Los Gatos, California in 2000 as it sought to interest in e-commerce business with the creation of a new subsidiary called NovaXchange. However, by 2002, with all its mineral assets in Alaska and Yukon, the company had moved back to Vancouver. In 2003 it was listed on the U.S. Stock Exchange. NovaGold acquired Spectrum Gold, which controlled many mining opportunities in the Yukon. Before it was merged, NOVAGOLD used SpectrumGold to purchase Anglo American's Riotinto and Glory Creek properties in northwest British Columbia for US$20 million provided a prior feasibility study (evaluating mining options) was completed. SpectrumGold also acquired 80% of the interest on nearby Copper Canyon properties from Eagle Plains Resources.