AcquisitionsOct 8, 2026, 08:06 AM
NOVAGOLD to Acquire 100% of Donlin Gold in All-Share Deal
AI Summary
NOVAGOLD Resources Inc. announced its third quarter 2026 financial results and provided an update on the Donlin Gold project. The company is set to acquire the remaining 40% interest in Donlin Gold LLC from Paulson in an all-share transaction expected to close by year-end, consolidating 100% ownership. Financial advisors have been appointed to support the development and financing of the Donlin Gold project. As of August 31, 2026, NOVAGOLD held approximately $343.4 million in cash and term deposits. The company reported a net loss for the quarter, reflecting development stage expenditures.
Key Highlights
- NOVAGOLD to acquire remaining 40% of Donlin Gold LLC from Paulson for 100% ownership in an all-share transaction.
- Financial advisors Endeavour Financial and Macquarie Capital appointed for Donlin Gold project development and financing.
- Company ended Q3 2026 with approximately $343.4 million in cash and term deposits.
- Reported net third quarter operational cash expenditures of $28.1 million, including $24.8 million for Donlin Gold.
- Reported earnings of ($36.0) million and earnings per share of ($0.08) for Q3 2026.
- Donlin Gold project has approximately 40 million ounces of gold in Measured and Indicated Mineral Resources.
- Bankable Feasibility Study (BFS) for Donlin Gold project on schedule for completion in 2027.
Price Impact
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