NovaGold Resources 2Q13 Earnings Call Notes

posted in: Notes | 0

This post is part of a series of posts called “Company Notes.” These posts contain quotes and exhibits from earnings calls, conference presentations, analyst days and SEC filings. The quotes are generally pieces of information that I find interesting or helpful to understanding the company, industry or economy and are not meant to provide summaries of the full content of the call. Other posts in this series can be found by clicking here. Full transcripts can be found at Seeking Alpha.

“Over the last few months there has been a lot of discussion about the current downturn in the price of gold. As management of a company which is developing an asset whose life is expected to be measured in decades and potential value in billions of dollars, we view the current phenomena as a short term swing and a well-established secular gold market. Great mines easily absorb these swings during their long lives of operation. They benefit from price upswings, with projected life of mine costs of less than $600 an ounce. Donlin is in a unique category of assets, positioned to deliver substantial value for many years to come.”

“In these turbulent times the most important thing we can do is focus on the things we can control. Everybody at Donlin is completely focused on the permitting and advancing the project.”

“I wouldn’t say there’s any one key asset or aspect of the environmental impact study that’s more important than others. Some of the scoping comments are what we would have anticipated such as the impacts on barge traffic on the Kuskokwim River. Air quality, air emissions is always scrutinized thoroughly throughout the process. I think we were pleased with how it went…it’s a big operation and many important issues will be studied. Those issues include the socioeconomic benefits and the impact to stakeholders.”