BearStearns downgrades NovaGold

after a 50% drop of the stock. Talk about timing.

http://finance.yahoo.com/q/ud?s=NG

Just a bit of info for this company. They are conservative and well run and like their independence. Seldom are there 2 properties in a junior's portfolio that has great chances of success. So this stock dropped but is probably a great buying opportunity if one believes the long term projection of gold and silver is much higher. It is also revealing of the cost to build a mine sui generis. All these small cap stocks and even the larger ones tout their potential. Well, here NG has great potential but we now know the cost and it is expensive. Unlike, BHP which is blowing 12bln dollars for one mine, Teck and Nova cannot bet it all on one mine, see commodities go down hill, and then be forced to sell the mine at a ridiculous level.

Just wait and see where the dust settles but this is, pardon me Bear Stearns, a screaming buy. I'm interested to see how Nova's directors handle their pay package. If they give themselves bonuses or lower their options price, I would say get out. Lets see how responsible they are.