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Q:
How do you view the opportunity at Galore Creek? What copper price would we need to see before market participants take interest in the project?
A:
Richard Williams
vice president, engineering and development NOVAGOLD
Copper Grade Comparison
P&P + M&I Grade (Cu%)
0.60
0.50 0.50
0.40
0.40 0.30 0.20 0.10
0.35 0.33
0.30
0.26 0.24
0.21 0.19 0.19
Peer group data as per latest company documents, public filings, and websites.
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NOVAGOLD and Teck have invested materially in Galore Creek, located in the traditional territory of the Tahltan Nation in northwestern British Columbia. It’s an asset a company can be built around, and is expected to be one of the largest and highest-quality, lowest-cost copper producers in Canada – one of the few safe jurisdictions remaining for copper miners.
Although we continue to evaluate opportunities to monetize our interest in the Galore Creek project to support development of Donlin Gold, we are fortunate to have the flexibility to continue to enhance the value of the asset with minimal spending as we wait for market conditions to improve. As such, we recently completed a visit to the site, where we gathered additional information that will help us optimize
the integrated mining, waste rock and water management conceptual designs. Additionally, we have initiated a generalized study of tunneling practice for site access and material handling.
Alaska
Anchorage
Galore Creek
Stewart
British Columbia
Vancouver
Galore Creek
Pebble
Red Chris
Copper Mountain
Berg
Schaft Creek
New Prosperity
KSM
Mount Milligan
Casino