{"id":1189002,"date":"2020-06-08T14:22:36","date_gmt":"2020-06-08T19:22:36","guid":{"rendered":"https:\/\/www.mining.com\/?p=1026490"},"modified":"2020-06-08T14:22:36","modified_gmt":"2020-06-08T19:22:36","slug":"novagold-hits-back-at-short-seller-with-line-by-line-dissection","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1189002","title":{"rendered":"Novagold hits back at short-seller with line-by-line dissection"},"content":{"rendered":"

Novagold Resources on Monday hit back<\/a>\u00a0against a report from J Capital Research released late May that accused managers of the Vancouver-based explorer of \u201csystematically\u201d\u00a0misleading investors about its proposed Alaska gold mine over the last 15 years.<\/p>\n

J Cap, a company\u00a0founded in China<\/a>\u00a0a decade ago which usually targets overvalued media and tech companies for short-selling, said the Donlin Gold project, which is 50-50 owned by Novagold and Barrick, \u201cwill never be built\u201d and \u201cin short, this is a stock promote, not a mining plan.\u201d<\/p>\n

Shares in Novagold (NYSE: AMERICAN, TSX: NG) fell by more than 12% on Monday and is now down 25% since the publication of the report pushing the company\u2019s market value to $2.6 billion.<\/p>\n

Greg Lang, Novagold president and CEO said the response, which include a 40 page line-by-line rebuttal<\/a> of the original J Cap report, explains why the company is “so determinedly assessing all of the legal options available to it in various jurisdictions.”<\/p>\n

Among other poinst Novagold says its response demonstrates:<\/p>\n