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.
Donlin Gold has launched its largest drill program in over a decade, targeting 34,000 meters and achieving over 70% completion as of mid-June 2022. The project benefits from a strong treasury of $142 million in cash and term deposits, with an additional $25 million receivable from Newmont in July 2023. The company aims to update its resource model and commence a feasibility study in the latter half of 2022. Despite increased operating expenses, the Donlin Gold project is positioned for significant long-term growth, with a projected annual production of 500,000+ ounces and a mine life exceeding 27 years.
NOVAGOLD RESOURCES INC. (NYSE American: NG) will announce its second-quarter financial results on June 29, 2022, after market close. A conference call and video webcast are scheduled for July 6, 2022, at 8:00 am PT (11:00 am ET), featuring insights from CEO Greg Lang and CFO David Ottewell. The call aims to provide a comprehensive overview of the financial results and updates on the Donlin Gold project. Participants can submit questions in advance via email, and the webcast will be archived for a year on the company’s website.
NOVAGOLD RESOURCES INC. (NG) announces the untimely passing of director Igor Levental on June 10, 2022. Levental served as an independent director since 2010, significantly contributing to the company and the North American gold mining sector. He played a key role in the company’s reorganization in 2012 and had over 30 years of mining experience. The company emphasizes its commitment to advancing the Donlin Gold project, which holds approximately 39 million ounces of gold and is considered one of the most prospective deposits globally.
NOVAGOLD Resources Inc. announced the results of its Annual General Meeting held on May 18, 2022, where 83.43% of issued shares were represented. All four proposals, including the election of eleven directors, were approved. Kevin McArthur was elected to the Board, bringing over 40 years of mining industry experience. The company engaged shareholders holding approximately 86% of its shares during the proxy season, enhancing corporate governance practices. The detailed voting results for all proposals, including the appointment of auditors and advisory approval of executive compensation, were overwhelmingly positive.
NOVAGOLD will hold its Annual General Meeting of Shareholders on May 18, 2022, at 1:00 p.m. PT, in a virtual format to enhance accessibility. Shareholders can vote by proxy and participate in discussions via a live webcast. The company is nominating Kevin McArthur, an industry veteran with over 40 years of experience, to its Board of Directors. His expertise is expected to benefit NOVAGOLD as it progresses its 50%-owned Donlin Gold project toward feasibility studies and eventual mine development.
NOVAGOLD Resources reported robust results from the 2021 Donlin Gold drill program, confirming high-grade intercepts that uphold the current resource estimates. With a strong treasury of $155 million and another $25 million receivable in July 2023, the company is positioned to advance the project. The 2022 drill program, budgeted at $60 million, will focus on preparing feasibility studies and conducting approximately 34,000 meters of drilling. The project aims to harness approximately 39 million ounces of gold, showcasing significant exploration potential.
NOVAGOLD has published its 2021 Annual Report, highlighting significant milestones in its Donlin Gold project, including a successful 79-hole drill program that produced some of the industry's best assay results. The company achieved top safety standards with no on-site incidents, reinforcing its ESG principles. President and CEO Greg Lang outlined 2022 goals while emphasizing strong relationships with local Native Corporations. The report also features a discussion on gold market trends by Chairman Dr. Thomas Kaplan and fund manager John Hathaway, available for viewing on NOVAGOLD's media gallery.
NOVAGOLD RESOURCES INC. (NYSE American: NG) plans to disclose its 2022 first quarter financial results on April 5, 2022, after market close. A conference call and video webcast to discuss these results will occur on April 6, 2022, at 8:00 am PT (11:00 am ET). The company’s leadership, including Chairman Dr. Thomas Kaplan and CEO Greg Lang, will provide insights into the results and updates on the Donlin Gold project. Participants can submit questions beforehand via email and ask more during the webcast. The details for accessing the webcast are available on NOVAGOLD’s website.
Donlin Gold LLC, co-owned by Barrick Gold and NOVAGOLD, announced positive results from its 2021 drill program, completing 79 holes over 24,264 meters. The program highlighted multiple high-grade gold intercepts, supporting existing resource estimates. The 2022 project budget of $60 million, the largest in over a decade, aims to advance the project towards feasibility studies. Local community initiatives and minimal COVID-19 cases during drilling enhance project credibility. The results position Donlin Gold as a significant player in Alaska's gold production with 39 million ounces of gold resources.
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