NovaGoldHere is how an intelligent and financially responsible company operates:
NovaGold pulls financing, cites pricing conditions
TORONTO, March 7 (Reuters) - NovaGold Resources Inc (NG.TO: Quote, Profile, Research) pulled a C$130 million ($131 million) share offering off the table on Friday morning, blaming price conditions, after announcing the offer just the night before.
"We just felt that in the market right now, we wouldn't get the best value for our shareholders," Don MacDonald, senior vice-president and chief financial officer of the Canadian gold miner, told Reuters.
"We took a view this morning at the end of a week that the pricing was not what we thought would give us the best value for the shareholders."
This totally opposite of Dr Paper who will finance anything and at any price, since not even maintaining (let alone growing) shareholder value is of any consequence to him. To him, the market (i.e., shareholders) exist only to be used and taken advantage of...