Quarterly ResultJun 24, 2026, 08:07 AM
NOVAGOLD Q2 Net Loss Narrows; Raises $310.2M in Private Placement
AI Summary
NOVAGOLD reported a reduced net loss for the second quarter and first six months of fiscal year 2026. The company significantly increased its cash and term deposits, driven by a $310.2 million private placement completed in February 2026. Strategically, NOVAGOLD increased its ownership in the Donlin Gold project to 60% in June 2025 and amended its promissory note with Barrick, including a $100 million prepayment option.
Key Highlights
- Net loss for Q2 2026 narrowed to $(25.5) million from $(54.3) million in Q2 2025.
- Net loss per share for Q2 2026 improved to $(0.06) from $(0.15) in Q2 2025.
- Completed a private placement on February 5, 2026, raising $310.2 million gross.
- Cash and term deposits increased to $370.2 million as of May 31, 2026.
- Increased ownership in Donlin Gold project to 60% on June 3, 2025.
- Amended promissory note with Barrick includes a $100 million prepayment option.
- Investment in Donlin Gold increased to $222.0 million as of May 31, 2026.
Price Impact
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