Skip to Content

NovaGold Resources Inc.

Company NameNovaGold Resources Inc.
Stock SymbolNG

On May 28, 2020, J. Capital Research or ("J. Capital") published a report claiming that "NovaGold's management team has systematically misled investors" about the Company's Donlin gold-mining project, "a deposit so remote and technologically challenging that the mine will never be built." J. Capital criticized NovaGold for using "custom metrics designed to deceive," which included, among other representations, that "the deposit will require $6.7 bln in capital, [when] the feasibility study clearly shows this number is $8 bln." J. Capital also contended that "[t]he proposed natural gas pipeline central to powering the project is dead on arrival," quoting an engineer who worked on costing the pipeline as stating that he "doesn't know of any engineering company that has the experience to build such a complex pipeline."

 

On this news, the Company’s share price fell $0.94 per share, or over 8%, to close at $9.71 per share on May 28, 2020, thereby injuring investors.

 

Submit Your Information

If you suffered a loss on your NovaGold Resources Inc. investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.

An attorney will contact you at no cost to provide you information about joining the action and answer your questions. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.

Shares Purchased

Number of SharesBuy DatePrice Per ShareAdd

Shares Sold

Number of SharesSell DatePrice Per ShareAdd