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8 pts

Opinion on  NovaGold Resources Inc (NG)     Sector: Basic Materials  >  Industry: Gold & Silver
Gold is good for the portfolio

Oct 30, 2007 11:27 AM GMT
Gekko
Return Risk
+6.30% HIGH
Sr. Associate

The dollar is sinking.  Military action against Iran is a possibility.  While I do not believe that gold is an effective hedge,  I do believe that others believe that and will flee to tis waiting arms in times of uncertainty.  NovaGold is a speculative play.  It makes no money and its biggest asset is a mine that it shares with Barrick that might become involved in contentious litigation.  Barrick did try to buy the company earlier this year, so there's probably something there. 


NG:  This call was made on 10/30/07 @ $19.89
Rating:   Positive   $19.89 (10/30/07)
Closed:   05/21/2008 @ $8.45 (-57.52% in 204 days)


+ Referring to this analysis:


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Who voted on this idea?
belvenobasso N/A 01/06/2008
John Williams 16% 10/30/2007


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