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Special Report - Barrick Bid Amount Unsupportable
We consider Barrick Gold Corporation’s (NYSE: ABX) opportunistic and hostile bid for NovaGold Resources, Inc.(AMEX, TSX: NG) to be unsupportable at US$14.50 per share. We believe the ABX offer significantly undervalues NG’s assets and does not adequately compensate NG shareholders for the increasing value of NG’s properties as they complete permitting, start construction and begin production beginning in mid-2007. This report will seek to explain our opinion as to why the transaction is unlikely to take place at this price. See full report
