This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:NovaGold Resources earns $16.7-million in Q3 2008 2008-10-16 09:21 ET - News Release
Mr. Don MacDonald reports NOVAGOLD THIRD QUARTER FINANCIAL RESULTS AND PROJECT UPDATE
NovaGold Resources Inc. has provided its financial and operating results for its third quarter ended Aug. 31, 2008, along with an update on the company's project development activities. Details of the company's financial results are described in the unaudited consolidated financial statements, and management's discussion and analysis which, together with further details on each of the company's projects including resource estimates, will be available on the company's website and on SEDAR. Highlights: - Earnings reach quarterly record of $16.7-million in the third quarter, with nine-month earnings of $36.7-million;
- Start of production at Rock Creek mine in Nome, Alaska;
- Preferred project design selected for Donlin Creek, feasibility study targeted for the first quarter of 2009;
- Optimization update study for Galore Creek project expected in the fourth quarter;
- NovaGreenPower subsidiary sold for $40-million to AltaGas;
- Cash position strengthened after quarter-end by net proceeds from warrants exercised of $15.3-million and bridge facility of $18.8-million (U.S.).
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