Donlin Gold says nothing’s changed

by Angela Denning-Barnes on July 27, 2012

After Barrick Gold announced Thursday that it was not prepared to construct the Donlin Gold mine, Donlin Gold says nothing has changed. Donlin Gold spokesperson, Kurt Parkan says, “the announcement doesn’t change anything for Donlin Gold at this point.”

“We’re on the same track and the same program as we have been,” Parkan says. “Both parent companies, NovaGold and Barrick are still committed to moving the project through the permitting process.”

On Thursday, in its second quarter results, Barrick stated that Donlin Gold does not currently meet its investment criteria, although the company would continue to seek permitting and decide on construction later.

Parkan says the decision to construct the Donlin Gold mine was always going to be made in the future after the permitting process, and that’s what Barrick told their investors.

“They were just stating that if they were to make an investment decision right now and construct, that Donlin didn’t meet their criteria for construction, but we’re not at the construction phase,” Parkan says.

A call to Barrick Gold was not returned. Barrick Gold owns 50 percent of the Donlin Gold prospect and NovaGold Resources Inc. owns the other half. NovaGold says they will continue with the project as planned.

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