Welcome to our dedicated page for NovaGold Resources news (Ticker: NG), a resource for investors and traders seeking the latest updates and insights on NovaGold Resources stock.
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 a strong treasury of $116 million as of February 28, 2023, with an additional $25 million receivable due in July 2023 from Newmont. The company has successfully commenced its 2023 field program for the Donlin Gold project, which includes extensive geotechnical drilling and resource modeling. The project, co-owned with Barrick Gold, is poised to advance towards an updated feasibility study. Key milestones also include maintaining good standing on several permits and enhancing community engagement in the Yukon-Kuskokwim region. The company anticipates spending $31 million in 2023 for various operational costs.
NOVAGOLD RESOURCES INC. (NG) is set to release its 2023 first quarter financial results after market close on April 4, 2023. A conference call and video webcast will follow on April 5, 2023, at 8:00 am PT (11:00 am ET), featuring insights from President and CEO Greg Lang and CFO David Ottewell. They will present the year-end financial results and provide an update on the Donlin Gold project. The webcast will be archived for one year, allowing investors to access the information at their convenience. Interested parties can submit questions ahead of time via email.
NOVAGOLD Resources announced its 2022 Annual Report, showcasing significant achievements in its Donlin Gold project. The report features a conversation between Chairman Dr. Thomas S. Kaplan and Daniela Cambone, discussing gold market opportunities and NOVAGOLD's progress. President and CEO Greg Lang highlighted a successful drill program, consisting of 141 holes over 42,331 meters, yielding high-grade gold intercepts. The company maintained zero lost-time incidents, reflecting excellent safety performance. Relationships with local Native Corporation partners were emphasized as a commitment to responsible development. The robust financial position and outlook for 2023 were also detailed.
NOVAGOLD reported a healthy cash position of $126 million as of November 30, 2022, alongside $25 million expected from Newmont in July 2023. The successful 2022 drill program at Donlin Gold, comprising 42,331 meters and 141 holes, yielded high-grade results, supporting an updated feasibility study. The project aims to produce 1.1 million ounces of gold annually over its 27-year mine life. While the company saw a net loss of $53.3 million for 2022, this reflects increased investment in the drilling program. NOVAGOLD plans to allocate approximately $31 million in 2023 for project advancements and operational costs.
Donlin Gold LLC, owned by Barrick Gold and NOVAGOLD (NG), announced successful results from its 2022 drill program, completing 141 holes over 42,331 meters. High-grade gold intercepts, including a notable 17.20 meters at 11.11 g/t gold, were reported. The results align with the resource model, bolstering estimates. Collaborative efforts with local stakeholders, including Calista and the Kuskokwim Corporation, continue to advance permitting and community engagement. The 2023 budget is set at approximately $34 million, focusing on engineering, environmental studies, and community relations to progress the Donlin Gold project further.
NOVAGOLD RESOURCES INC. (NG) will release its 2022 year-end financial results after market close on January 25, 2023. A conference call and video webcast to discuss these results is scheduled for January 26, 2023, at 8:00 am PT (11:00 am ET). Key executives, including Chairman Dr. Thomas Kaplan, CEO Greg Lang, and CFO David Ottewell, will present a summary of the financial results and provide updates on the Donlin Gold project and the gold sector.
Donlin Gold LLC, a joint venture between Barrick Gold and NOVAGOLD, has announced positive results from its 2022 drill program in Alaska. The project achieved early completion with significant assay results from 141 drill holes totaling 42,331 meters. Notably, drill hole DC22-2068 revealed a remarkable 42.28 meters grading 30.68 g/t gold. These results bolster confidence in the project's resource model, advancing steps towards a feasibility study. The 2022 budget is set at $64 million to refine geological models and continue environmental studies, while permitting efforts proceed smoothly.
NOVAGOLD reported its third-quarter results, emphasizing a robust treasury with $132 million in cash and $25 million receivables expected in July 2023. The company concluded a significant drill program at Donlin Gold, completing 141 holes over 42,334 meters, yielding high-grade gold intercepts. The drilling supports an updated feasibility study and geologic modeling, with further assay results anticipated. The project, anticipated to produce over 1 million ounces annually for 27 years, demonstrates strong potential despite ongoing permitting challenges in Alaska.
NOVAGOLD RESOURCES INC. (NYSE American: NG) will announce its 2022 third quarter financial results on October 4, 2022, post-market. A conference call and video webcast will follow on October 5, 2022, at 8:00 am PT (11:00 am ET), featuring insights from CEO Greg Lang and CFO David Ottewell regarding the results and updates on the Donlin Gold project. Investors can submit questions ahead of the call via email. The event will be archived on NOVAGOLD's website for one year.
Donlin Gold LLC, co-owned by Barrick Gold and NOVAGOLD, has reported initial assay results for its 2022 drill program, significantly ahead of schedule with 26,800 meters drilled from an anticipated 34,000 meters. The drilling results indicate high-grade gold intercepts, supporting recent modeling and strategic planning efforts. With a 2022 budget of $60 million, the project is advancing towards a feasibility study decision. The company emphasizes local hiring, community engagement, and environmental stewardship as top priorities, with promising outcomes for the mining potential at Donlin Gold.
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