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Thursday, July 8, 2010

NovaGold (AMEX:NG) Places Marc Faber on Board

Marc Faber has been appointed to the board of NovaGold Resources (AMEX:NG) (TSE:NG), according to a company press release today, along with Igor Levental.

Faber is of course the publisher of the popular The Gloom, Boom & Doom Report, and ubiquitous in the financial media, who love to get his contrarian view on all things economic.

"Dr. Faber and Levental are among the brightest minds in the business and bring extensive experience and expertise to NovaGold. We are truly delighted that they have joined NovaGold's Board of Directors," said Rick Van Nieuwenhuyse, NovaGold's President and CEO in the release. "Their credentials and their extraordinary wealth of market and industry experience will be invaluable as NovaGold advances its portfolio of world-class projects along the value chain for shareholders."

NovaGold has struggled since May, dropping from just under $9 a share to Thursday's close of $6.28 a share, a loss of $0.13, or 2.03 percent.

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