Novagold

1 post / 0 new
#1 Wed, Nov 16, 2011 - 6:17pm
Gwyde
Offline
-
Belgium
Joined: Aug 29, 2011
803
2316

Novagold

A major shake-up at Novagold as the company is planning to spin off its copper holdings into a new subsidiary: NovaCopper. Rick Van Nieuwenhuyze upto now CEO of NG is put forward to lead this new subsidiary.

Novagold has named Greg Lang, former head of American operations at Barrick, as the new CEO. NovaGold announced billionaire Thomas Kaplan will become its chairman. Kaplan’s investment firm Electrum is the largest shareholder in NovaGold with a nearly 21.7% stake.

For more detail continue at: https://www.forbes.com/sites/steveschaefer/2011/11/16/novagold-taps-new-ceo-names-billionaire-kaplan-chairman/?partner=yahootix

Novagold soars 25% on the news. By this move, I guess Barrick seems eager to kick start the development of Donlin Creek (for which it's partnering with NG) to an operational mine. It might as well be the initial step for a take-over of Novagold.

Edited by: Gwyde on Nov 8, 2014 - 5:20am

Notice: If you do not see your new comment immediately, do not be alarmed. We are currently refreshing new comments approximately every 2 minutes to better manage performance while working on other issues. Thank you for your patience.