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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 Resources announced the successful completion of a 79-hole, 24,264-meter drilling program at the Donlin Gold project in 2021, yielding multiple high-grade gold intercepts. The results, representing 65% of the drilling length, support the global resource estimate. As of November 30, 2021, NOVAGOLD reported a cash position of $169.1 million, bolstered by a $75 million payment from Newmont. The 2022 budget for Donlin Gold is projected at $60 million, focusing on further geological studies and exploration. The company continues to prioritize stakeholder engagement and health protocols amid the ongoing pandemic.
NOVAGOLD RESOURCES (NG) will release its 2021 year-end financial results on January 26, 2022, post-market close. A conference call and video webcast will follow on January 27, at 8:00 am PT (11:00 am ET) featuring key executives discussing the results and updates on the Donlin Gold project.
Participants can submit questions in advance or during the event. The webcast will be archived on NOVAGOLD's website for a year.
Donlin Gold LLC, co-owned by Barrick Gold and NOVAGOLD, reports advancements from a September workshop in Alaska, along with new drill assay results. The 2021 drill program encompassed 79 holes over 24,264 meters, with strong results supporting resource estimates. Notably, significant high-grade gold intersections were identified in drilling, reinforcing confidence in the project’s potential. The management teams re-emphasized a commitment to sustainable practices and community engagement. A feasibility study update is planned for 2022, contingent on upcoming drill results.
Donlin Gold LLC's board has approved an additional $3 million for 2021 funding to support new feasibility studies following a successful drill program. Initial results from 29 holes, totaling 7,500 meters, revealed significant high-grade gold intercepts, indicating potential feeder zones. The company has strengthened its financial position with $173.3 million in cash. Key permits are advanced, with all federal and major state permits obtained. NOVAGOLD expects to spend approximately $32 million in 2021, focusing on progressing the Donlin Gold project while maintaining health and safety protocols amidst the COVID-19 pandemic.
NOVAGOLD RESOURCES INC. (NG) will release its 2021 Q3 financial results after market close on September 29, 2021. A conference call and video webcast to discuss these results is scheduled for September 30, 2021, at 8:00 am PT (11:00 am ET). Key executives, including Chairman Dr. Thomas Kaplan and CEO Greg Lang, will present a summary of the financial results and updates on the Donlin Gold project. The webcast will be archived for one year on NOVAGOLD's website.
Donlin Gold LLC, co-owned by Barrick Gold and NOVAGOLD, announced promising initial assay results from its 2021 drilling program, with significant high-grade gold intercepts identified at the Donlin Gold project in Alaska. The drill program has expanded to include 80 holes over 24,000 meters, enhancing confidence in geological models and aiming to validate mineralization continuity. Notable intercepts include 92.02m grading 7.8 g/t gold. The results support the project’s feasibility study and highlight Donlin Gold's substantial resource potential, with approximately 39 million ounces of gold grading 2.24 g/t.
NOVAGOLD Resources Inc. (NG) announced a second payment of $75 million from Newmont Corporation as part of a $275 million agreement for NOVAGOLD's 50% interest in the Galore Creek project. This payment increases NOVAGOLD's cash reserves, enhancing its financial position to support its 50%-owned Donlin Gold project in Alaska. The company expects to manage its business plan without raising additional capital until construction decisions are made for Donlin Gold. Total cash on hand is now over $150 million, bolstering NOVAGOLD’s capabilities for future developments.
Donlin Gold's 2021 drill program progresses with 28 of 64 planned holes completed, totaling 8,650 meters drilled. Key federal and state permits secured, including 401 Certification upheld amidst an ongoing appeal. NOVAGOLD holds $107.6 million in cash and term deposits, expecting $75 million from Newmont soon. Although community engagement is strong, operational losses increased to $10.5 million in Q2 2021. The project, a partnership with Barrick, boasts significant mineral resources yet faces challenges, including a legal appeal concerning environmental permits.
Donlin Gold LLC, jointly owned by Barrick Gold and NOVAGOLD, has encountered an appeal regarding the 401 Certification for its project, filed by Earthjustice on behalf of the Orutsararmiut Native Council. This appeal challenges the June 2021 decision by Alaska's ADEC Commissioner to uphold the certification, which is crucial for project advancement. Donlin Gold asserts that the decision confirms compliance with environmental standards and emphasizes its commitment to sustainable development. The project contains significant gold reserves, with approximately 39 million ounces.
NOVAGOLD RESOURCES INC. (NYSE American: NG) will announce its 2021 Q2 financial results on June 29, 2021, after market close. A conference call and video webcast to discuss these results is scheduled for June 30, 2021, at 8:00 am PT (11:00 am ET). CEO Greg Lang and CFO David Ottewell will present the financial summary and updates on the Donlin Gold project. The session will include a Q&A segment, providing an opportunity for investor inquiries.
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