donlin recano professional financial investors

Telephone: (713) 238-3000 Court filings and information about the Chapter 11 cases can be found at a website maintained by the Companys claims agent, Donlin Recano & Company, at their website at https://www.donlinrecano.com/gwg, or by calling 1 (888) 508-2507 (toll-free) or by email at gwginfo@donlinrecano.com. Thomas S. Kiriakos Analysts Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. These cookies are necessary for the website to function and cannot be switched off in our systems. Please disable your ad-blocker and refresh. When you visit any website, it may store or retrieve information on your browser, mostly in the form of cookies. But in the meantime, given its stock's heavy exposure to the precious metal, NovaGold Resources Inc. will most likely have presented ample opportunities to benefit from both dips and bull markets in gold prices. Approval of these first day motions, which the Company expects to receive in short order, will help facilitate a smooth transition into the process. , which suggested a Sell rating, shares of NovaGold Resources have lost more than 20% on the downtrend in gold prices and are trading more attractively today. During his academic career he acquired an extensive managerial and economic background, with a solid quantitative basis. He covers all sectors and the different types of stocks. Telephone: (312) 701-0600 Mayer Brown LLP April 20, 2022 08:00 ET They may be used by those companies to build a profile of your interests and show you relevant adverts on other sites. (Prevailing Central Time), June 29, 2022 at 2:00 p.m. Involuntary Summons Issued on Professional Investors Security Fund I, A California Limited Partnership, Corporate Disclosure Statement. The Honorable Marvin Isgur. However, construction of the mine is not scheduled to begin before the next three years. Houston, TX 77002-2730 I am not receiving compensation for it (other than from Seeking Alpha). One Bryant Park However, blocking some types of cookies may impact your experience of the site and the services we are able to offer. Over time, it will become much clearer to retail investors which of the two scenarios (economic recession or soft landing) is more likely between the end of 2023 and 2024. -and- But until activity for effective gold production begins, perhaps in 2027, changes in gold prices will be the main factor driving the NovaGold Resources Inc. stock price. Essentially describes a useful investment strategy that fits the profile of any investor, whether they are dividend investors or interested in a value proposition or growth opportunity. New York, NY 10036 Since my previous. Akin Gump Strauss Hauer & Feld LLP No recommendation or advice is being given as to whether any investment is suitable for a particular investor. As has been the case during the last five years of trading (for example) - see chart below - I believe the market will continue to offer investors the opportunity to expand their holdings with a buy-and-hold approach, taking advantage of the formation of dips. Rescheduled to April 19, 2023 at 2:00 p.m. (Prevailing Central Time), Notice of Hearing on Disclosure Statement, Notice of Hearing on Disclosure Statement, Solicitation Procedures Motion, Exclusivity Motion, and Compensation Motion, Notice Of Adjournment Of Hearing On Compensation Motion, Disclosure Statement Motion, And Exclusivity Motion, General Claims Bar Date for GWG DLP Funding Cases Governmental Unit Claims Bar Date for GWG DLP Funding Cases, Notice of Chapter 11 Bankruptcy Case/Proof of Claim Deadlines, June 15, 2023 at 1:30 p.m. These cookies do not store any personally identifiable information. Jason P. Rubin It is located just a few miles north of the village of Crooked Creek in southwest Alaska's historic Kuskokwim Gold Belt. Benjamin L. Taylor NovaGold Resources Inc. is advancing a gold project in Southwest Alaska for high-grade, long-term gold production, and the stock may one day serve as a powerful tool to take advantage of the high gold prices forming during bull markets. These statements are subject to significant risks, uncertainties, and assumptions that are difficult to predict and could cause actual results to differ materially and adversely from those expressed or implied in the forward-looking statements, including risks and uncertainties regarding the Debtors ability to successfully complete a restructuring under Chapter 11, including: consummation of a plan of reorganization; potential adverse effects of the Chapter 11 Cases on the Companys liquidity and results of operations; the Debtors ability to obtain timely approval by the Bankruptcy Court with respect to the motions filed in the Chapter 11 Cases; objections to the any plan of reorganization or other pleadings filed that could protract the Chapter 11 Cases; employee attrition and the Companys ability to retain senior management and other key personnel due to distractions and uncertainties resulting from the Chapter 11 Cases; the Companys ability to maintain relationships with suppliers, customers, employees and other third parties and regulatory authorities as a result of the Chapter 11 Cases; the effects of the Chapter 11 Cases on the Company and on the interests of various constituents, including holders of the Companys common stock; the Bankruptcy Courts rulings in the Chapter 11 Cases, including the approvals of the terms and conditions of any plan of reorganization and the DIP Credit Agreement; the outcome of the Chapter 11 Cases generally; the length of time that the Company will operate under Chapter 11 protection and the availability of operating capital during the pendency of the Chapter 11 Cases; risks associated with third party motions in the Chapter 11 Cases, which may interfere with the Companys ability to consummate a plan of reorganization or an alternative restructuring; increased administrative and legal costs related to the Chapter 11 process; potential delays in the Chapter 11 process due to the effects of theCOVID-19virus; and other litigation and inherent risks involved in a bankruptcy process. Donlin Recano & Company, Inc. 212.481.1411 2023 Contact Information Court Dockets Claims Docket E-mail Subscription File Claims First Day Pleadings First Day Orders Notice of Chapter 11 Bankruptcy Case/Meeting of Creditors Notice Lists Petitions Plan & Disclosure Statement Documents Ponzi Complaint Judgment Sale Related Documents Scheduled Hearings To report a factual error in this article. to release its financial results for the second quarter of 2023 after market close today June 27. Southern District of Texas. But one thing is for sure. The economic recession would significantly enhance the precious metal's safe-haven properties and, given the strong positive correlation mentioned earlier, would create strong upside potential for NovaGold's share price. These results will most likely reflect an operating loss due to the costs associated with setting up the company's future gold production, which may occur in a few years. For additional information, please contact the restructuring information center toll free at 1 (888) 508-2507 or submit an inquiry via e-mail to gwginfo@donlinrecano.com. Donlin, Recano & Company, an AST companya leading provider of corporate restructuring servicesannounced that Jennifer E. Mercer has joined the firm as Vice President and leader of its Strategic Communications group. CORRECTIVE ENTRY: Clerk modified attorney to reflect PDF. The Company also announced that it has secured debtor-in-possession financing (the DIP Credit Agreement) to facilitate the restructuring, subject to Court approval, and that it has filed a motion with the Court for approval of this financing. Find company research, competitor information, contact details & financial data for Dataction B.V. of Dronten, Flevoland. (Prevailing Central Time), Notice Of Hearing To Consider Confirmation Of Debtors Second Amended Joint Chapter 11 Plan, Ad Hoc Committee's Support for the Debtors' Chapter 11 Plan, Notice of Entry of Order Confirming Debtors' Further Modified Second Amended Joint Chapter 11 Plan, Findings Of Fact, Conclusions Of Law, And Order Confirming Debtors Further Modified Second Amended Joint Chapter 11 Plan, Professional Compensation Fee Claims Bar Date Rejection Damages Claims Bar Date. Based on these ownership interests, NovaGold Resources Inc. has the right to benefit from mineral activity on a total of 19.5 million ounces of gold in the measured and indicated mineral resources, of which 87.2% are in proven and probable mineral reserves grading 2.09 grams of gold per ton. Telephone: (212) 506-2500, Jackson Walker LLP These cookies are used to improve your website experience and provide more personalized services to you, both on this website and through other media. This share price could soon come under pressure again due to the expected further rate hikes, which bode ill for gold. The Company has no obligation to update or revise these forward-looking statements and does not undertake to do so, except as required by law. US Fed chairman Jerome Powell's testimony last week fueled the notion that there could be at least two more rate hikes this year to fight inflation, which could be detrimental to the economy. The problem is that despite the rising cost of money, consumption (70% of GDP) is holding up well thanks to a resilient workforce. The company is currently completing the preparatory work and will then update the feasibility study. If you have an ad-blocker enabled you may be blocked from proceeding. Scott L. Alberino The Most Patriotic Brands in America: New survey research reveals the nations truest bluest companies in our hyper-political landscape, 8 ways PR pros can leverage generative AI for crisis communication, Building a strong brand image: Key insights for a successful marketing campaign, Is branded #Pride content on the decline? That doesn't mean, however, that one must forgo the opportunity to sell some shares whenever a sharp rise in the price of gold presents an opportunity to earn an undeniable capital gain. Forgot your password? Find company research, competitor information, contact details & financial data for AMEVO 2000 B.V. of Dronten, Flevoland. I have no business relationship with any company whose stock is mentioned in this article. This analysis of NovaGold Resources (NYSE:NG) stock includes a change in the recommendation rating from the previous Sell to a Hold stance. United States Bankruptcy Court. (Mapa, Rommel) (Entered: 11/28/2020) Kristhy M. Peguero 1000 Main Street, 36th Floor Order (1) Establishing Investor Bar Date; (2) Establishing Bar Dates for Creditors of Professional Investors 28, LLC and PFI Glenwood LLC; and (3) Approving Form and Manner of Notice of Bar Dates and Procedures with Respect Thereto Location to File Proof (s) of Claim and Contributed Claim Election Form The Fed will make each interest rate decision session by session, depending on the impact of monetary policy on economic activity, inflation and financial developments. Receipt number 30913283, amount $1717.00 (re: Doc# 1 Involuntary Petition (Chapter 11)) (U.S. Treasury) (Entered: 11/20/2020), Chapter 11 Involuntary Petition Against a Non-Individual. Tel: (713) 226-6000 1401 McKinney Street, Suite 1900 Summary. There is no doubt that Donlin Gold has the long-term potential to become a mid-tier gold producer with 27+ years of operation in a friendly mining district as the open pit resource can be explored further along strike and at depth. Analytics cookies are cookies that track how users navigate and interact with a website. While the 14-Relative Strength Indicator of about 23x suggests oversold levels. This analysis does not expect that the release of Q2 2023 financial results will lead to any significant changes in the share price. This website stores cookies on your computer. This analysis does not expect that the release of Q2 2023 financial results will lead to any significant changes in the share price. It is also possible that the Donlin Gold Project may not even start gold production in four years time, as there is always a risk that things will not go according to the company's plan. The shares are also below the 50-day simple moving average of $5.473, below the 100-day simple moving average of $5.061, and below the 200-day simple moving average of $5.632. M. Shane Johnson This information might be about you, your preferences or your device and is mostly used to make the site work as you expect it to. I wrote this article myself, and it expresses my own opinions. While it moves as quickly as possible through the restructuring process, the Company intends to continue its day-to-dayoperations as debtor-in-possession. I have no business relationship with any company whose stock is mentioned in this article. Alberto holds a Master's degree in Business Economics. Court filings and information about the Chapter 11 cases can be found at a website maintained by the Company's claims agent, Donlin Recano & Company, at their website at https://www.donlinrecano . However, a soft landing of the economy is also possible, which economists describe as the scenario in which consumption and investment behave robustly despite higher interest rates on borrowed capital. Forward-looking statements contain words such as expect, anticipate, could, should, intend, plan, believe, seek, see, may, will, would, or target. Forward-looking statements are based on managements current expectations, beliefs, assumptions and estimates and may include, for example, statements regarding the Chapter 11 Cases, the Debtors ability to consummate and complete a plan of reorganization and their ability to continue operating in the ordinary course while the Chapter 11 Cases are pending. Charles S. Kelley I'm starting to wonder if they will ever actually start mining. I wrote this article myself, and it expresses my own opinions. Since my previous analysis, which suggested a Sell rating, shares of NovaGold Resources have lost more than 20% on the downtrend in gold prices and are trading more attractively today. 5) Filed by Other Prof. DONLIN RECANO (related document(s) 1 Involuntary Petition (Chapter 11), 4 Involuntary Summons Issued, 5 Notice). (Prevailing Central Time) You can set your browser to block or alert you about these cookies, but some parts of the site will not then work. Should the economy enter a recession later this year or in 2024, NovaGold Resources could offer an interesting solution to benefit from the expected bull market in gold. The information does not usually directly identify you, but it can give you a more personalized web experience. I'm getting really tired of this company. But before a recession potentially hits, the Federal Reserve could very likely raise rates twice this year, and higher rates bode badly for gold. This press release contains forward-looking statements related to future events. (Entered: 11/20/2020), Receipt of filing fee for Involuntary Petition (Chapter 11)(20-30908) [misc,invol11] (1717.00). Woodland Hills, California. NovaGold Resources is expected to release its financial results for the second quarter of 2023 after market close today June 27. Meanwhile, NovaGold Resources shares continue to be primarily driven by changes in the price of gold. Professional Financial Investors, Inc. 20-30604 : Professional Investors Security Fund, Inc. 20-30579 : Professional Investors Security Fund I, A California Limited Partnership : 20-30908 : Filed 11/20/20: Professional Investors Security Fund IV, A California Limited Partnership . This is possible as gold serves as a safe haven against the negative cycle while between gold and the stock there is a strong and positive correlation. Fax: (202) 887-4288, Porter Hedges LLP Debtor Case Number. Fax: (212) 872-1002 Click on the different category headings to find out more and change our default settings. As the chart below shows, shares of NovaGold Resources Inc. are trading at $4.61 apiece at the time of this writing, giving it a market cap of $1.54 billion. In this case, the driving force behind the share price of the Canadian gold properties developer would be much less, or absent. If not the second quarter 2023 financial results, what sparks investors interest in NovaGold Resources? Rescheduled to March 20, 2023 at 8:00 a.m. (Prevailing Central Time) They may be set by us or by third party providers whose services we have added to our pages. Is this happening to you frequently? Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. ReSet to February 7, 2023 at 10:00 a.m. (Prevailing Central Time), Notice of Reset of Meeting of Creditors Pursuant to Section 341(a) of the Bankruptcy Code, Notice of Chapter 11 Bankruptcy Case/Meeting of Creditors, March 10, 2023 at 9:30 a.m. Debtor Name. Get the latest business insights from Dun & Bradstreet. 4); and c,Notice of Intent to Consent to Involuntary Bankruptcy Petition (Docket No. There is a possibility that a late July Fed rate hike to combat inflation, as suggested at the June 14 meeting, could hurt the stock price, and cause it to fall below current levels. | Source: Mayer Brown LLP Rust Consulting/Omni Bankruptcy. Status Conference scheduled for 2/3/2021 at 01:00 PM via Tele/Videoconference - www.canb.uscourts.gov/calendars. Case Name Case Number; Professional Financial Investors, Inc. 20-30604: Professional Investors Security Fund, Inc. 20-30579 To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. At the end of the mid-June meeting, the Fed left interest rates unchanged between 5% and 5.25%, but the chairman warned that rates could rise to 5.6% by the end of the year if neither the economy nor inflation slows down remarkably, as reported by Trading Economics. Modified on 11/20/2020 (lm). Get the latest business insights from Dun & Bradstreet. 2300 N. Field Street, Suite 2300 Tel: (202) 887-4000 Mayer Brown LLP Judge. DALLAS, April 20, 2022 (GLOBE NEWSWIRE) -- GWG Holdings, Inc. (Nasdaq GWGH) (the Company), a financial services firm based in Dallas, Texas, today announced that the Company and certain of its subsidiaries have filed voluntary Chapter 11 petitions (the Chapter 11 Cases) in the U.S. Bankruptcy Court for the Southern District of Texas (the Court) as part of a restructuring process intended to enable the Company to enhance its liquidity and ability to meet its financial obligations, while maximizing the value of its assets. Don't have an account? All of these ounces must be developed through the extraction and processing of 541 million tonnes of gold ore, averaging 2.2 grams of precious metal per tonne of ore. Due to the positive correlation between NovaGold and the precious metal, an even more attractive price than the current one cannot be ruled out if gold continues to move downwards. They do not store directly personal information but are based on uniquely identifying your browser and internet device. Houston, TX 77002-2764 Michael S. Stamer Telephone: (713) 752-4200, Akin Gump Strauss Hauer & Feld LLP New York, NY 10020-1001 NovaGold Resources is expected to release its Q2 2023 financial results, which will likely reflect an operating loss due to the costs associated with setting up the company's future gold . 2001 K Street, N.W. Because we respect your right to privacy, you can choose not to allow some types of cookies. Investors may want to consider a Hold rating for the time being, as NG stock price may still trade slightly below current levels due to expected further rate hikes. Abid Qureshi Entering text into the input field will update the search result below. Higher interest rates will likely cause investors to flock to bonds, reducing demand for gold somewhat. Lacy M. Lawrence Retail investors are better off waiting and watching how the economy develops by keeping an eye on some key indicators such as the interest rate decision, inflation, job market conditions and the US gross domestic product growth rate. As NovaGold Resources continues its plan to one day begin mining gold from a mineral asset -- known as the Donlin Gold Project -- in southwest Alaska, the share price will fluctuate with the price of gold. Chicago IL, 60606 GWG Holdings, Inc. (Nasdaq: GWGH) is a financial services firm based in Dallas, Texas. Bulldog Reporter is a leader in media intelligence supplying news, analysis and high-level training content to public relations and corporate communications professionals with the mission of helping these practitioners achieve superior competitive performance. That means going forward, individual investors will need to take the same approach that the Federal Reserve intends to follow to bring down high inflation. Filed by Petitioning Creditor (s) Professional Financial Investors, Inc. (Marum, J.) The specter of an economic recession due to rate hikes could push NovaGold's share price back to the highest peaks of the cycle. Their existence is highly uncertain as they are based on very rough estimates, and it is therefore uncertain if they can be mined. Obtains Debtor-In-Possession Financing to Facilitate Restructuring, Expects Restructuring to Strengthen Financial Position and Enhance Value of its Assets. Many years of promises with nothing happening but loses and no date that they will start mining. For additional information, please contact the restructuring information center toll free at 1 (888) 508-2507or submit an inquiry via e-mail to gwginfo@donlinrecano.com. Southern District of Texas. one day begin mining gold from a mineral asset -- known as the Donlin Gold Project -- in southwest Alaska, the share price will fluctuate with the price of gold. The margin for the lower share price is slim, as evidenced by the chart above where the 14-Relative Strength Indicator of 28.113x indicates oversold levels. Tel: (214) 969-2800 These steps, including the receipt of additional financing, are expected to strengthen the Companys financial position going forward and help preserve the value of the Companys assets for the benefit of its investors, said Murray T. Holland, Chairman, President and Chief Executive Officer of the Company. -and- If you do not allow these cookies, you will experience less targeted advertising. Dallas, TX 75201 Shares of NG:CA are trading at CA$6.06 apiece at the time of this writing, giving it a market cap of CA$2.02 billion. 700 Louisiana Street, Suite 3400 71 S. Wacker Drive However, as the factors that could lead to strong downside sentiment towards gold appear to be in place, it would be better I think for an investor to stick with a Hold rating for the time being. NovaGold share price will fluctuate with the price of gold. (Entered: 11/20/2020). Professional Financial Investors, Inc.: Application to Employ Donlin, Recano & Company, Inc. as Claims, Noticing, and Solicitation Agent Filed by Interested Partys Professional Investors 20, LLC, Professional Investors 21, LLC, Professional Investors 22, LLC, Professional Investors 23, LLC, Professional Investors 24, LLC, Professional Investors 25, LLC, Professional Investors 26, LLC . These risks and uncertainties may cause actual future results to be materially different than those expressed in such forward-looking statements.

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