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NovaGold Resources Inc. (USA) (NYSE:NG) got proceeds of CAD$46.4 million on December 31, 2012 from the exercise of the total of the 31,337,278 share purchase warrants held by Electrum Strategic Resources L.P.
How Should Investors Trade NG Now? Don’t Miss out a Special Trend Analysis
The warrants, due to finish January 21, 2013, were exercisable at CAD$1.479(1) a share. Upon use of these warrants, the shares received by Electrum were inserted to their core NOVAGOLD holdings.
Electrum and its associate GRAT Holdings LLC now hold, in the collective, 84,569,479 shares or 27.2% of Novagold's issued and outstanding shares. The profits from the warrants exercise will be used for the development of Donlin Gold, NOVAGOLD's flagship asset.
So far today, NovaGold Resources Inc. (USA) (NYSEAMEX:NG) shares gained +7.21% to $4.84 while the stock is changing hands within a range of $4.65 – $4.83. In the past year, the stock has traded between $3.61 and $10.81. Its average daily trading volume is 1.70 million shares.
Will NG Continue To Move Higher? Find Out Here
Looking at other stocks within industry, Gold Fields Limited, IAMGOLD Corporation and Eldorado Gold Corp were in the gainers list. Let’s have a quick look on their Market performance.
Gold Fields Limited (ADR) (NYSE:GFI) shares are up +0.80% to $12.59 while the stock is trading within the range of $12.47 – $12.64 in the current trading session. In the last 12 months, shares have floated between $11.09 and $16.97. This stock, on average, has trading volume of 4.02 million shares.
Why Should Investors Buy GFI After The Recent Gain? Just Go Here and Find Out
In this session so far, IAMGOLD Corporation (USA) (NYSE:IAG) shares moved up +3.23% reaching $11.84. The stock is trading in a range of $11.73 – $12.00. In the last year the stock has moved within a range of $9.20 – $17.82. The Company’s average daily trading volume is 2.68 million shares.
For How Long IAG’s Gloss will Attract Investors? Find out via this report
Another rival company, Eldorado Gold Corp (USA) (NYSE:EGO), is trending +2.10% higher to $13.15. The stock price is hovering in range of $13.11 to $13.30. In the previous 52 weeks, shares price ranged between $9.78 and $16.20. Their average daily trading volume is 3.16 million shares.
What was the Moving Force behind EGO On Bullish Run? Read This Research Report
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