Quarterly ResultJun 24, 2026, 08:07 AM
NOVAGOLD Files Q2 2026 Report; Advances Donlin Gold BFS
AI Summary
NOVAGOLD RESOURCES INC. filed its second quarter 2026 report, announcing a net loss of $25.5 million and earnings per share of ($0.06) for the quarter ended May 31, 2026. Despite the loss, the company maintained a robust treasury with $370.2 million in cash and term deposits. Significant progress was reported on the Donlin Gold project's Bankable Feasibility Study (BFS), with engineering integration advancing under Fluor's leadership. The company also highlighted ongoing stakeholder engagement and efforts to defend its permitting position, with a decision pending from the Alaska Supreme Court on a Clean Water Act challenge.
Key Highlights
- Reported Q2 2026 net loss of $25.5 million and EPS of ($0.06).
- Ended Q2 2026 with $370.2 million in cash and term deposits.
- Advanced Donlin Gold project's Bankable Feasibility Study (BFS) with Fluor, WSP, Worley, and Hatch.
- Net Q2 operational cash expenditures totaled $22.7 million.
- NOVAGOLD's share of Donlin Gold funding was $16.3 million.
- Donlin Gold BFS is targeted for completion in 2027.
- Anticipated fiscal year 2026 operating expenditures remain $98.5 million.
Price Impact
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