Top AMEX Performer NovaGold Resources Inc. (NG), Stock Soars after Company Announces Major Changes to its Organization
(November 16, 2011) Shares of NovaGold Resources Inc. (AMEX: NG), a Vancouver, Canada-based company, are seeing a huge rally in trading today. At last check, the NovaGold Resources stock was trading 20.43% higher at $10.61 on above average volume of 6.10 million.
NovaGold shares are soaring in trading today after the company announced major changes to its organization. NovaGold today announced that Gregory A. Lang accepted the position of President and CEO effective January 2012. Lang joins the company from Barrick Gold Corporation (NYSE: ABX), where he was most recently the President of Barrick Gold North America.
Lang has more than 30 years of diverse experience in mine operations, project development and evaluations and held responsible operating and project development positions during his 10-year tenure with Barrick Gold. Commenting on Lang’s appointment, Rick Van Nieuwenhuyse, NovaGold’s current President and CEO, said that Lang’s extensive background in developing miles for the largest gold producer in the world, combines with his leadership ability, makes him the right person at the right time to take the helm at NovaGold.
NovaGold also said that Van Nieuwenhuyse will step down from his current position as President and CEO and will become the President and CEO of NovaCopper Inc., a newly created subsidiary of NovaGold. The company plans to distribute shares of NovaCopper to shareholders of NovaGold common stock as a return or capital way through a Plan of Arrangement. NovaGold has also announced some other significant changes to its organization.
About NovaGold Resources Inc.: NovaGold Resources Inc. is a precious metals company focusing on the exploration and development of mineral properties in Alaska, USA and British Columbia, Canada.
- The NovaGold Resources stock has a 52-week range of $5.93-$16.90.
- The stock trades on a daily average volume of 2.39 million.
- The stock is currently trading above its 50-day and 200-day moving averages, which is a bullish signal.
- The stock’s MACD has crossed the signal line on the upside and is also above the zero-line, which are strong bullish signals.
NovaGold Resources announced major changes to its organization. The company’s shares are soaring following the announcement.