04:00 PM EST - NovaGold Resources Inc. : reported a first-quarter net loss of $28.5 million or $0.20 per share, compared to net earnings of $24.2 million or $0.22 per share in the year-ago quarter. Revenues for the quarter were $400,000, compared to $1.7 million in the corresponding period in 2008. NovaGold said that it is completing a technical report for the Donlin Creek project based on a feasibility study that was completed on behalf of the Donlin Creek LLC on April 1, 2009. The Donlin Creek project is expected to have a throughput design of approximately 50,000 tonnes per day using onsite diesel and wind cogeneration for power. Using this design, Donlin Creek would operate for more than 20 years and potentially produce one to 1.5 million ounces of gold annually. Permitting is expected to start in 2009 with a construction decision targeted for 2012. NovaGold Resources Inc.
shares T.NG are trading down $0.19 at $3.11.
