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Whither Galore?

Andre Gagne : Oct 24.2008

In November 2007, NovaGold’s drive towards production came to a sudden halt when the Galore Creek project cost estimates soared to $5 billion from $2.2 billion.  A revised feasibility study made the company rethink its approach. In August, 2008 a class-action lawsuit was launched by a NovaGold shareholder.   The plaintiff alleged certain officers released misleading statements about costs, progress and project viability.  While this legal challenge proceeds, NovaGold is making plans to move ahead with its stalled mega-mine.   NovaGold will soon announce major changes to the project’s direction, perhaps just in time for the one year anniversary of its shelving?

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Dec 18, 2008 Will Alaska say yes or no to Tulsequah Chief? Nov 26, 2008 Atlin-Taku Land Use Planning - 2nd stakeholder workshops Oct 24, 2008 Whither Galore? more

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