Vancouver's NovaGold Resources Inc. (TSX:NG) has mothballed plans to raise $130 million in a public share offering a day after making the announcement.
The company cited poor pricing conditions as the main reason for the cancellation.
NovaGold is working with Barrick Gold on its Donlin Creek gold project and helping Teck Cominco Ltd. develop the Galore Creek gold project.
NovaGold's share price range during the past week: between $10.30 and $11.15; 52-week high: $20.44; 52-week low: $5.90.