Novagold Resources Inc ( (NG) ) has released its Q3 earnings. Here is a breakdown of the information Novagold Resources Inc presented to its investors.
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Novagold Resources Inc. is a development-stage precious metals company focused on advancing the Donlin Gold project in Alaska, one of the largest and highest-grade open-pit gold deposits globally. In its third quarter of 2025, Novagold reported significant achievements, including the completion of a $1 billion acquisition to increase its stake in Donlin Gold LLC to 60%, alongside a successful public offering raising $195.2 million. The company also issued a Request for Proposals for a Bankable Feasibility Study, aiming to advance Donlin Gold toward becoming the largest single gold mine in the United States.
Key financial highlights from the quarter include a strengthened treasury with $125 million in cash and term deposits, despite reporting a net loss of $15.6 million due to increased expenditures related to the Donlin Gold project. The company completed an 18,454-meter drill program, confirming consistent mineralization and supporting future mine planning. Additionally, Novagold is designing a district-wide exploration program to expand resources and search for new discoveries.
Looking forward, Novagold’s management remains optimistic about the project’s potential, with plans to award the BFS contract by year-end and commence work shortly thereafter. The company is also preparing to engage with various financing sources to support the project’s next development phase, while continuing proactive stakeholder engagement and environmental initiatives in the Yukon-Kuskokwim region.