NovaGold Resources (AMEX:NG) (TSE:NG) President and Chief Executive Officer, Rick Van Nieuwenhuyse, seems to have a gift for attracting big players and big money to invest in the company, and that has paid large dividends for them at crucial times of their growth cycle.
Some of those investing in NovaGold Resources include billionaire Thomas Kaplan through his Tigris Financial Group, John Paulson with his Paulson & Co. hedge fund, and George Soros with Quantum Partners Ltd.
In the early part of 2009 they also reached a financing agreement with Electrum Strategic Resources, which saved their major Donlin Creek and Galore Creek projects.
Assuming good gold finds, the secret to success for junior gold miners really isn't a secret, it's who can secure financing for their projects in order to bring them online.
With the track record of Rick Van Nieuwenhuyse and his team, it looks like NovaGold will have a long and successful run, as he recently stated they have enough financing for the next three years.
If they're operationally sound and focus on cutting costs, once they are in strong gold production they should get some great returns for their shareholders.
In addition to gold, they also have copper, silver and zinc resources.
Showing posts with label Quantum Partners. Show all posts
Showing posts with label Quantum Partners. Show all posts
Wednesday, May 26, 2010
Thursday, May 20, 2010
NovaGold (AMEX:NG) CEO Says Company Good for Three Years
NovaGold (AMEX:NG) CEO and President Rick Van Nieuwenhuyse said earlier in the month that the company has reversed its setbacks over the last three years and is now set financially for the next three years, referring to the financing secured by the gold miner.
Much of the financing required by NovaGold was secured through investment from hedge fund Paulson & Co. and Quantum Partners, which brought them $175 million to help with their capital needs.
Another strategic and important source of financing came from Electrum Strategic Resources in the early part of 2009, which allowed NovaGold to retain its interest in important assets of Donlin Creek and Galore Creek. They also had enough to deal with operational issues at its Rock Creek project, which they should be able to comply with regulations and get it back up and running.
Although the company is going through a correction related to the overall gold price correction, it is close to increasing production and getting going on all cylinders, which should make shareholders happy, and the company very profitable.
Much of the financing required by NovaGold was secured through investment from hedge fund Paulson & Co. and Quantum Partners, which brought them $175 million to help with their capital needs.
Another strategic and important source of financing came from Electrum Strategic Resources in the early part of 2009, which allowed NovaGold to retain its interest in important assets of Donlin Creek and Galore Creek. They also had enough to deal with operational issues at its Rock Creek project, which they should be able to comply with regulations and get it back up and running.
Although the company is going through a correction related to the overall gold price correction, it is close to increasing production and getting going on all cylinders, which should make shareholders happy, and the company very profitable.
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