NovaGold Resources Ord Shs T.NG

Alternate Symbol(s): NG

Metals & Mining Gold

NOVAGOLD Resources Inc. is a precious metals company, which is focused on the development of its 50%-owned Donlin Gold project in Alaska. The Donlin Gold project is a development-stage gold project. The Donlin Gold property is located in the Kuskokwim region of southwestern Alaska on private, Alaska Native-owned mineral and surface land and Alaska state mining claims. The Donlin Gold deposits are situated at approximately 62-degree North latitude and 158-degree West longitude, which is 450 kilometers (km) west of Anchorage and 250 km northeast of Bethel up the Kuskokwim River. The project is held by Donlin Gold LLC (Donlin Gold), which is owned 50% by the Company's wholly owned subsidiary, NOVAGOLD Resources Alaska Inc., and 50% by Barrick Gold Corporation's wholly owned subsidiary, Barrick Gold U.S. Inc.

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NovaGold Resources Ord Shs

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Post by tooclassyon Nov 08, 2006 1:37am

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Post# 11638091

Who came up with "50% of votes needed"?

(Obviously I wish the requirement was for 75% or some sufficiently high percentage so that this kind of disaster of "hostile" takeovers couldn't happen easily. Think about it. With 50.1% of the vote it would mean that 49.9% of the NG shareholders are being held hostage by the other 50.1%. It just seems so...wrong!) Barrick needs 50.1% of the vote to takeover Novagold. Who came up with this 50% figure? Is it in the takeover laws? Or is the requirement set by one of the two companies?

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