The American gold mining company NovaGold's shares lost more than half their value on Monday after it announced halting a joint mining project with Teck Cominco in British Columbia.
In late trading, shares of NovaGold Resources were down 52.2%, or $10.57, to $9.67 on the American Stock Exchange.
The companies were halting construction of a copper, gold and silver project in Galore Creek, British Columbia, because of high costs.
Novagold, whose other properties are not yet producing metals, was left with a market value of just under $1 billion.
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Sad News About NovaGold
Novagold, whose other properties are not yet producing metals...
