A Gold Stock To Be Excited About
On January 22nd, NOVAGOLD RESOURCES (NYSEMKT: NG) released its 2019 fiscal year results and held a conference call the following day. Since the company last reported its quarterly results, the share price has risen from $6.34 to about $8.87 or about 40%. While not much has changed since we last looked at NOVAGOLD, here are some updates from the new 10-K, press release, and conference call.
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Financially speaking, NOVAGOLD's results for 2019 were in-line with previous years. The company ended the year with a net loss of $27.8 million compared to a net loss from continuing operations of $31.5 million and $36.9 million in 2018 and 2017, respectively. The total cash used for the year was about $18.5 million. This was also comparable with 2018 and 2017 which saw cash used of about $20 million and $19.6 million, respectively. The cash being used goes primarily to the company's operating activities and NOVAGOLD's share of Donlin Gold's funding.
Source Fool.com
