A gold ring or coin begins as rock that someone spent years studying, permitting and digging. NovaGold sits at the early, costly end of that chain. Its main asset is a 60% stake in Donlin Gold, a project in Alaska that the company expects to become the largest single gold mine in the United States. Its work today is turning that deposit into a mine. It pays engineers and works with nearby communities while federal permits go through a court-supervised review. If the mine is built, the money would come from selling gold.
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