NOVAGOLD reported a 60% increase in ownership of Donlin Gold to 100% through an all-share transaction with Paulson Advisers LLC, and announced financial advisors for the project. The company ended the quarter with $343.4 million in cash and term deposits.
Why it matters. NOVAGOLD's increased ownership and financial backing will accelerate the development of the Donlin Gold project, impacting the U.S. gold mining industry.
the Transactions increase projected attributable production metrics by over 520,000 ounces of annual gold production during the first 10 full years.
earnings per share of ($0.08) for the third quarter of 2026
Cash provided by financing activities during the third quarter of 2026 decreased by $25.5 million from the comparative prior year period
Donlin Gold Holdings, 100% wholly-owned by Paulson Advisers LLC and its affiliates, is the 40% owner of the Donlin Gold project.
and 40% by Paulson Advisers LLC and certain of its affiliates (collectively “Paulson”) through Donlin Gold Holdings LLC
$16.7 million of incremental Donlin Gold funding versus the prior year.
to provide financial advisory services for the development of the Donlin Gold project in Alaska
Donlin Gold appointed Endeavour Financial and Macquarie Capital to provide financial advisory services for the development of the Donlin Gold project
These transformative Transactions will deliver substantial benefits to NOVAGOLD stakeholders, including generating immediate accretion across net asset value per share
Donlin Gold appointed Endeavour Financial and Macquarie Capital as financial advisors to provide advisory services for the development of the project in Alaska.
NOVAGOLD held approximately $343.4 million in cash and term deposits as of August 31, 2026
which is owned 60% by NOVAGOLD through NOVAGOLD Resources Alaska, Inc.
reported net third quarter operational cash expenditures of $28.1 million
Expected average annual gold production of more than one million ounces
Since the beginning of 2026, the team has grown from approximately 35 to 77 employees
the Company reported earnings of ($36.0) million
through the addition of approximately 16 million ounces of Measured and Indicated Mineral Resources
Cash provided by investing activities during the third quarter of 2026 increased by $331.6 million from the comparative prior year period
and $3.3 million in corporate general and administrative costs
As of August 31, 2026, the Company had cash resources comprising cash and cash equivalents and term deposits totaling approximately $343.4 million
