ORLANDO, Fla., March 18, 2010 (GLOBE NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc., has issued a research update on NovaGold Resources Inc. (TSX:NG) (NYSE Amex:NG), a company focused on precious metals mining and exploration in North America.
Aditya Khandekar, CFA, RedChip Research Analyst, reported:
"NovaGold's recently completed financings totaling $175 million make the Company's balance sheet flush with liquidity and gives it the desired financial cushion and flexibility for making capital allocation decisions.
"Investors want to see metal production by 2015 or sooner. To that extent, the offerings allow the Company the flexibility to evaluate acquisitions of junior producers or properties on the verge of production."
Khandekar continued: "We reiterate our Buy rating on NovaGold and believe the sustained optimism of long-term institutional investors on the quality and quantity of NovaGold's asset base, is evidenced by the two recently completed equity offerings and the subsequent positive reaction of the market."
To receive a complimentary copy of the RedChip Visibility Research Update for NovaGold, please visit: http://www.redchip.com/about/aboutmain.asp?rid=224">http://www.redchip.com/about/aboutmain.asp?rid=224
To learn more about NovaGold Resources, visit http://www.redchip.com/visibility/investor.asp?symbol=NG.
About NovaGold
NovaGold is a growth-focused precious metals company engaged in the exploration and development of mineral properties in North America. The Company has a portfolio of mineral properties located in Alaska, USA, and British Columbia, Canada. The Company's largest projects are being advanced with major mining companies. The Donlin Creek project is held by a limited liability company owned equally by NovaGold and Barrick Gold U.S. Inc. The Galore Creek project is held by a partnership owned equally by NovaGold and Teck Resources Limited. NovaGold owns a 100% interest in the Rock Creek, Big Hurrah and Nome Gold deposits in Nome, Alaska, and in the Ambler deposit in northern Alaska. NovaGold has one of the largest reserve/resource bases of any junior or mid-tier level producing gold company, and trades on the TSX and NYSE-AMEX under the symbol NG. More information is available at http://www.novagold.net/ or by emailing info@novagold.net.
About RedChip Companies, Inc.
RedChip Companies is an international, small-cap research and financial public relations firm headquartered in Orlando, Florida; with affiliate offices in Beijing, China; Paris, France; and Seoul, Korea. RedChip delivers concrete, measurable results for its clients through its extensive national and international network of small-cap institutional and retail investors. RedChip has developed the most comprehensive platform of products and services for small-cap companies, including: RedChip Research(TM), Traditional Investor Relations, Digital Investor Relations, Institutional and Retail Conferences, RedChip Small-Cap TV(TM), Shareholder Intelligence, Social Media and Blogging Services, Webcasts, and RedChip Radio(TM). To learn more about RedChip's products and services please visit: http://www.redchip.com/visibility/productsandservices.asp.
"Discovering Tomorrow's Blue Chips Today"™
The RedChip Companies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=2761
Disclosure
The analysts contributing to this report do not hold any shares of NovaGold Resources Inc. ("NG"). RedChip certifies that no part of the analyst's compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analyst in the report. The equity research report(s) are not a recommendation of a solicitation to purchase or sell any security, nor do they constitute investment advice. NovaGold Resources Inc. is a client of RedChip Companies, Inc. and of RedChip Visibility, a division of RedChip Companies. NG agreed to pay RedChip Visibility a fee of twenty-five thousand dollars in cash for RedChip Visibility Program services, which includes the preparation of the equity research report(s). The equity research report(s) are prepared for informational purposes only and are paid for by the company portrayed in the report. The equity research report(s) are not a recommendation of a solicitation to purchase or sell any security, nor do they constitute investment advice. RedChip Companies, Inc., is currently engaged by this company to provide investor awareness services. Investor awareness services and programs are designed to help companies communicate their investment characteristics. These services may include investor conferences, digital and print distribution of NovaGold investor-related materials and radio programming. NG agreed to pay RedChip Companies, Inc. a monthly fee of twenty-five thousand dollars in cash and warrants to purchase one hundred thousand shares of the NG common stock (subject to conditions) for twelve months of these services. RedChip Companies, Inc., employees and affiliates may have positions and affect transactions in the securities or options of the issuers mentioned herein.