NOVAGOLD RESOURCES INC. (TSX, NYSE American: NG) is a well-financed precious metals company focused on the development of the federally permitted Donlin Gold project, co-owned 50/50 with Barrick Gold. Donlin Gold offers an unrivaled opportunity for investors seeking leverage to gold and is a unique asset in terms of production profile, mine life, and jurisdictional safety, and is regarded to be one of the largest, highest-grade, and most prospective known open-pit gold deposits in the world.
NOVAGOLD’s robust balance sheet of $142 million in cash and term deposits as of May 31, 2022, with additional funds of $25 million due in July 2023 from Newmont Corporation, should be sufficient to advance Donlin Gold to a construction decision. With the largest budget in more than a decade for the 2022 drill program, the owners are advancing the Donlin Gold project up the value chain and are working toward a feasibility study decision, subject to Donlin Gold LLC Board approval.
Additional current activities at Donlin Gold are focused on permitting, project optimization, community outreach and workforce development in preparation for the construction and operation of this Tier-One asset.
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