NovaGold Resources Inc. (AMEX:NG) Q4 2023 Earnings Call Transcript

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Not to mention that if I’m right, that Hoover Dam through a garden hose metaphor will be in North American assets, firstly, they won’t be in Africa. They won’t be in funky places. I don’t believe so. And I voted with my feet by moving from those places back home where I don’t feel that I’m going to experience that great Woody Allen quote “I’m not afraid of dying. I just don’t want to be there when it happens.” I love what we have. And the key to being a successful investor in my view, is being – having so much conviction that you’re willing to stay in it until the world comes around to it. I think that could very, very well happen in the nearer term than people imagine for a variety of reasons, company-specific as well as in the market.

But that and cappuccino, the price of the cappuccino, that’s it. That’s all you need. But what I would say is that we are more apparel of being an unwanted takeover target, I believe it would be foolish, but we would be more of a target of that than of running out of money. Does that answer your question?

Melanie Hennessey: Thank you, Tom. I appreciate the response to the webcast question. Greg, is the litigation worry from to you. Can you speak to some of the engagement efforts and steps that have been taken with the state and federal agencies?

Greg Lang: Sure. Within the mining industry for many decades in North America. And litigation wasn’t always this way, but probably for the last 15 years or so litigation is a normal part of the permitting process. We were basically a litigious society. And while we – we don’t really like it, but we know it’s coming. We prepared for it. We’ve had great counsel on board, and we anticipated this even before we’ve got a record of decision in 2018 and we’ve prevailed. There’s four major pieces of the litigation as it works its way through the courts, we’ve prevailed on every ruling to date. Do I have any fear about that going forward, no I think we will continue to prevail. And I’m sure a lot of people are curious what it costs to defend your permits.

And frankly, it’s a pretty significant amount of money in our budget to actively defend the permits that we got through a very disciplined process. So I’m not worried about it. It’s a cost of doing business, and we will prevail.

Melanie Hennessey: Great. Thank you. That is all the questions we have today. Greg, if you want to say some final remarks.

Greg Lang: Well, everyone, thank you for joining our call today. We’ve got a pretty active year ahead of us, and we will keep everyone appraised as our work unfolds and any potential additions to the approved budget at Donlin. Thank you for your time.

Operator: This concludes today’s conference call. You may disconnect your lines. Thank you for participating, and have a pleasant day.

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