Q: In March of 2022, you were asked about NovaGold (NG) and wrote: “…we do not like these 'binary' scenarios. Without full permitting, there is no mine, and no potential.” In March of 2023, you recommended it along with a few other juniors. Could you please share your updated thoughts about this company? Thanks.
5i Research Answer:
Sometimes comments will get past our editing process and with 'everything' followed there will at times be some inconsistencies. Both comments actually still apply. While permitting remains the single largest concern, if approved then NG stock would likely double, or more. Some small cap investors like those odds, some do not. NG could still get approval, and a change in government can also always change things as well. But, it has also been working now on permits for more than 11 years, and some concession to the risks here needs to be made. It is a good project for sure with great economics, but it is just hard to analyze not knowing if it will actually become a mine.