NEW YORK, Aug 14 (Reuters) -
NovaGold Resources Inc. (NG.TO)
urged investors on Monday to reject a hostile $1.28-billion takeover offer from Barrick
Gold Corp. (ABX.TO), saying the bid "significantly undervalues" the
Canadian company's projects and its growth potential.
NovaGold (NG.A) said Barrick's $14.50 a share cash offer was not in the best interest
of the company's shareholders and failed to reflect the value of NovaGold's 70-percent
ownership of the Donlin Creek project in Alaska, which it described as one of the
world's biggest gold deposits.
Shares of NovaGold closed up 2 percent at C$19.04 on the Toronto Stock Exchange
on Monday and up 25 cents at $16.86 on Amex. Shares of Barrick, the world's biggest
gold producer, closed 77 Canadian cents lower at C$34.35 in Toronto.
the complete story on reuters.com ...
is NovaGold's Success Important to You?
We are at the very beginning of a long term bull market in natural resources
-- oil and gas, farm land, water and precious and industrial metals. As prices
of strategic commodities rise, large companies are using their rising cash flows and
access to financial markets to buy smaller companies. This kind of corporate consolidation
is traditionally how hot money and dirty players take over and/or sabotage the more
responsible and smaller companies.
Nowhere is the game dirtier that in the precious metals markets, where GATA
has documented market manipulation to suppress prices -- thus making it easier
and more profitable to consolidate precious metals inventories and take over smaller
We are at the crossroads. Will we use our money to build a diversified world where
ownership and management of strategic resources is spread among the many and honors
generations yet unborn? Or will we keep thinking we can make a quick buck by selling
our resources to the Tapeworm without concern for the future?
I am often asked about the environmental damage associated with mining. I believe
that centralized debt based currency, derivative and financial systems and the organized
crime and black budgets they nurture are responsible for most of the environmental
damage on our planet. Thus actively decentralizing the precious metals market will
do far more to protect and heal the environment than boycotting precious metals mining
ever could, because it shifts power and wealth out of the Tapeworm. In fact, decentralizing
the natural resources markets is absolutely crucial to saving our planet.
Interestingly enough, the allegations against Barrick say that it is one of the
largest synthesis of both -- dirty money and dirty environment.
So the NovaGold-Barrick squabble is representative of a situation that we can expect
to see many times, across these key sectors. And we can expect to be increasingly
called on to make a choice that truly can make a difference. Who will our pocketbook
back? David or Goliath?
Solari's position will be unchanged over the next decade. We believe that diversified
independent operators can produce far more wealth in the long run. Ultimately all
the dirty money and dirty tricks in the world cannot get anything productive done
on the ground. This takes good old fashioned hardworking, responsible management who
pay attention to the nuts and bolts of their business as opposed to helping Wall Street
and Washington rig markets. The authentic business leadership that protects our resources
and our freedoms will grow in stature as broad based networks of self-organizing citizens
withdraw our resources from large consolidating players and begin to act in our own
Being part of bringing
forth this revolution of hearts, minds and pocketbooks is the opportunity of a lifetime.
We welcome you into the middle of it, looking to birth the lotus blossom of a new,
more sustainable world up from the mud of market manipulation and the volatile, rising
value of strategic resources.
-- Catherine Austin Fitts
Do you have a relationship with any of the large investors in NovaGold?
For example, do you invest in mutual funds managed by these companies or have an account
or business relationship with them? Do you have friends, family or fellow alumni working
at these companies? If so, why not contact them and let them know how important it
is to you personally that they support NovaGold.
Here is a list of large shareholders of NovaGold:
|ACTION #2: WE
TOOK A POSITION
We believe that the more friendly forces who buy NovaGold stock, the more these
shares are unavailable to Barrick.
In support of the Gold Anti-Trust Action Committeee (GATA), Catherine's Solari
Circle investment club, the First Ever Solari Circle, has purchased NovaGold shares.
We understand the potential for adverse consequences to the share price in the event
that NovaGold is successful.
Learn More About Barrick: Allegations re:
burying miners alive, supressing the gold price or polluting the water in Chile --
is this a company that you want to control and govern strategic resources?
libel suit hits U.S. Web site
Barrick Gold forces investigative journalist Greg Palast offline
By William Spain, CBS.MarketWatch.com
Aug 1, 2001
Strikes Gold by Greg Palast
April 8, 2003
A proposed gold mine in Chile and Argentina has emails flying
By Kelly Hearn
21 Jun 2006
from the Book of Barrick
by Bob Landis
May 21, 2002 & November 27, 2002
Do you think that members of your network would be interested in learning about
this? Please feel free to forward this message on to them.
Join Catherine at the New
Orleans Investment Conference in November
The New Orleans Investment Conference is probably the grandest, most attendee-friendly,
and most hard-investment-oriented investment conference in the United States.In addition
to GATA Chairman Bill Murphy, this year's speakers at the New Orleans Investment Conference
will include GATA supporters Bob Bishop, John Embry, Peter Grandich, James Turk, and