NovaGold Resources Inc (NG-T)

He's not a gold bug, but seeks unloved stocks in unloved sectors. Gold has consolidated nicely and made a good technical turn. His #1 gold holding is FNV-T. TGC has the largest undeveloped deposit in the world and in a safe place (Alaska) with a good partner in Barrick. All tailwinds.

Has had a really, really good move in the short term. If you think the gold price is going up 2 years from now, you will be very happy if you bought it today. 3 or 6 months from now you will be somewhat less happy. He owns it because he likes the optionality of the higher gold and copper prices. It is going to be a very, very volatile stock.

There are two projects in North Western BC. They will be difficult to build, but have lots of gold and copper. He likes that they know they are an optionality play. They run low G&A. The management knows not to dilute now.

Not a producing company. They have two assets in Canada and have given up on one. They would have to spend $7 Billion. They have a partner that is willing to build the mine with them, but they need higher gold prices. It would be the biggest gold mine in the world. It is not the right project for the current gold environment.

This is one of those projects that is lower in grade and requires very large spending capital. In the current environment, lots of the majors are cutting back on capital spending.

He is bullish on gold. It needs to break out above $1800 and then we will have a dynamic run on gold to $2000. IF it does not break out and we go back to summer lows, then it will be a bad sign.

Gold usually does well in the summer, beginning of July, coming into the beginning of October. There can be another period at this time but you have to watch it. Be very careful.

(Market Call Minute) too high a Cap –X.