NOVAGOLD RESOURCES INC

NovaGold and Paulson selected Fluor Corporation to lead the new Bankable Feasibility Study for Donlin Gold, targeted for completion in 2027.

contract award

Closed a $310.2 million bought-deal offering at $10.00/share - roughly triple the $3.00-3.75 pricing of the 2025 Barrick-buyout financings - reflecting how much the stock had re-rated since NovaGold took majority control of Donlin Gold.

capital raising announcement

With Barrick's exit complete, the 2025 Donlin Gold drill program pivoted toward converting resources to reserves and geotechnical work for a new Bankable Feasibility Study, returning high-grade intercepts up to 23.49 g/t gold along the way.

drilling result

Closed the acquisition of Barrick's 50% Donlin Gold stake: NovaGold paid $200 million for an extra 10% (reaching 60% ownership) and Paulson paid $800 million for the remaining 40%, with the two now sharing equal governance under a new LLC agreement - Barrick's three-decade involvement in Donlin Gold formally ends.

asset acquisition disposition

Closed a further $64.4 million private placement with existing major shareholders Electrum and Kopernik (17.2 million shares at $3.75), additional financing for the Barrick buyout and the planned feasibility study update.

capital raising announcement

Launched a public underwritten offering (Citigroup, RBC) of common shares expected to net $169.7-195.2 million, earmarked to help fund NovaGold's $200 million share of the Barrick buyout.

material agreement

NovaGold and Paulson Advisers agreed to buy Barrick's 50% interest in Donlin Gold for $1.0 billion cash - NovaGold's stake rising from 50% to 60% (paying $200 million for the extra 10%) with Paulson taking the other 40% - a transformative deal that ends Barrick's involvement. NovaGold's largest existing shareholders (Electrum, Paulson, Kopernik, all related parties) backstopped up to $170 million of NovaGold's funding via warrants, with the rest from cash on hand; the deal was vetted by an independent special committee.

capital raising announcement

Donlin Gold released final 2022 drill assays, including a standout 17.20-meter intercept grading 11.11 g/t gold, completing the program ahead of schedule and under budget.

drilling result

More high-grade 2022 assays, with drilling completed ahead of schedule (141 holes, 42,331 meters total) and results from the tightly-spaced Divide grid supporting the resource model.

drilling result

Donlin Gold's 2022 drill program got off to a strong start, running ahead of schedule with encouraging high-grade assays from the first third of a planned 34,000-meter program.

drilling result

Donlin Gold released final 2021 drill assays - a comprehensive 79-hole, 24,264-meter program with multiple high-grade intercepts - alongside news of the largest annual project budget in more than a decade.

drilling result

Following an executive workshop between Barrick and NovaGold's CEOs and a site visit, the partners reaffirmed confidence in Donlin Gold and charted next steps toward a feasibility study update, alongside more high-grade assay results from the 2021 program.

drilling result

Donlin Gold's 2021 drill program turned up significant new high-grade intercepts in the ACMA and "Divide" zones between the ACMA and Lewis deposits, pointing to potential feeder zones for the broader mineralizing system.

drilling result

Donlin Gold released the final assays from the 2020 drill program (all 85 holes, 23,361 meters), confirming higher-than-modeled grade-thickness and prompting the board to consider a larger follow-up program for 2021.

drilling result

Donlin Gold (NovaGold's 50/50 Alaska gold JV with Barrick) reported more assays from its 2020 drill program - 71% of the 85 holes now reported - continuing to show higher grade-thickness than the existing geologic model predicted.

drilling result

Sold its entire interest in the Galore Creek copper-gold project and the adjoining Copper Canyon property (British Columbia) to Newmont for up to $275 million - $100 million cash upfront plus milestone-based notes worth up to $175 million more - letting NovaGold concentrate fully on its flagship Donlin Gold project in Alaska.

asset acquisition disposition