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NovaGold Resources Inc. (NYSE American, TSX: NG) is a well-financed precious metals company primarily focused on the development of mineral properties in North America. The company's flagship asset is the Donlin Gold project in Alaska, which is 50% owned by NovaGold. This project is in the final stages of its permitting process and is considered one of the most significant gold projects worldwide in terms of size, grade, exploration potential, production profile, and jurisdictional safety. According to the feasibility study, Donlin Gold is expected to produce over one million ounces of gold annually over a 27-year mine life.
NovaGold also holds a 50% interest in the Galore Creek project located in northern British Columbia, which contains significant copper, gold, and silver resources. The company is evaluating opportunities to sell all or a portion of its interest in this project to further bolster its financial position and focus on the development of the Donlin Gold project.
Recently, NovaGold received $25 million from Newmont Corporation as part of a payment agreement related to the sale of its 50% interest in the Galore Creek project. This payment has strengthened NovaGold's cash position, allowing the company to advance the Donlin Gold project. With approximately 39 million ounces of gold in measured, indicated, proven, and probable mineral reserves, the Donlin Gold project is poised to become a large, low-cost gold producer with significant growth opportunities.
Current activities at the Donlin Gold project are focused on state permitting, engineering studies, community outreach, and workforce development. Thanks to its strong financial foundation, NovaGold is well-positioned to fund its share of these efforts. The company’s commitment to responsible mining, environmental stewardship, and community engagement continues to drive its success and expand its partnerships with local communities, particularly in Alaska's Yukon-Kuskokwim region.
NOVAGOLD reported its Q3 2024 financial results and provided an update on the Donlin Gold project. Key highlights include:
1. Advancement of metallurgical test work and resource modeling for Donlin Gold.
2. Submission of Dam Safety Certification preliminary design packages to Alaska authorities.
3. Continued community engagement and environmental initiatives in the Yukon-Kuskokwim region.
4. Appointment of Peter Adamek as new VP and CFO.
5. Strong financial position with $105.6 million in cash and term deposits as of August 31, 2024.
The company remains focused on progressing Donlin Gold through development phases responsibly and effectively. NOVAGOLD emphasizes the project's potential as a Tier One gold development asset in a secure jurisdiction, with approximately 39 million ounces of gold in Measured and Indicated Mineral Resources.
NOVAGOLD RESOURCES INC. (TSX, NYSE American: NG) has announced the release date for its 2024 third quarter financial results, scheduled for October 2, 2024, after market close. A conference call and video webcast to discuss these results will be held on October 3, 2024, at 8:00 am PT (11:00 am ET).
During the webcast, NOVAGOLD's President and CEO, Greg Lang, and CFO, Peter Adamek, will provide a summary of the company's Q3 financial results and an update on the Donlin Gold project. Investors can submit questions prior to the call at info@novagold.com and will also have the opportunity to ask questions during the webcast.
The video webcast will be available at www.novagold.com/investors/events/, with call-in details provided for North American and international participants. The webcast will be archived on NOVAGOLD's website for one year.
NOVAGOLD released its Q2 2024 financial results, highlighting advancements in the Donlin Gold project, co-owned with Barrick Gold The company reported a robust treasury of $113 million in cash and term deposits. Key activities included metallurgical test work, regional infrastructure planning, and hydrological model updates. Social outreach continued in the Yukon-Kuskokwim region, with educational and environmental initiatives. Financially, NOVAGOLD reported a net loss of $13.7 million, an improvement from $14.6 million in Q2 2023. The company plans to spend $31.2 million in 2024 to advance Donlin Gold and maintain corporate operations.
NOVAGOLD has appointed Peter Adamek as its new Chief Financial Officer (CFO), effective July 15, 2024. This announcement follows the retirement of the long-serving CFO, David Ottewell, who will stay until the same date to ensure a smooth transition.
Greg Lang, President and CEO of NOVAGOLD, praised Ottewell's contributions, highlighting his role in developing finance strategy, building the finance team, and maintaining a strong balance sheet. Adamek joins NOVAGOLD with over 20 years of experience in corporate finance, having served in senior roles at Hudbay Minerals and holding designations as a CPA, CFA, and P.Eng.
Adamek's extensive background in finance, capital markets, and IT is expected to be instrumental as NOVAGOLD advances its Donlin Gold project.
NOVAGOLD (TSX, NYSE American: NG) will release its 2024 second quarter financial results on June 26, 2024, after market close. The company will host a conference call and video webcast on June 27, 2024, at 8:00 am PT (11:00 am ET) to discuss these results. Key speakers include CEO Greg Lang and CFO David Ottewell, who will also provide an update on the Donlin Gold project. Questions can be submitted in advance to info@novagold.com or asked live during the webcast. The webcast will be archived on NOVAGOLD’s website for one year. For more details, visit www.novagold.com/investors/events/.
NOVAGOLD announced the results from its 2024 Virtual Annual General Meeting, held on May 16, 2024. A total of 270,432,207 shares, representing 80.87% of issued and outstanding shares, were present.
All four proposals, including the election of the ten director nominees, were approved. The company engaged with shareholders holding 84.28% of shares during the proxy season.
Detailed voting results revealed strong support for all directors, with votes ranging from 95.99% to 99.65% in favor. PricewaterhouseCoopers LLP was appointed as auditors with 98.40% support, and the executive compensation package received 83.72% approval.
The meeting materials and full voting results are accessible on NOVAGOLD's website and regulatory platforms.
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