NovaGold Reports Q3 Earnings, Announces Major Ownership Consolidation at Donlin Gold
NovaGold Resources Inc. (NG) posted a net loss of $36 million for the third quarter ended August 31, 2026, compared to a prior-year period loss of $15.6 million, primarily due to increased study costs and professional fees related to its ongoing corporate reorganization. The company reported cash reserves of $343.4 million as of that date, which it believes is sufficient to complete the bankable feasibility study for Donlin Gold in 2027. NovaGold announced plans to consolidate full ownership (100%) of the Donlin Gold project by acquiring Paulson Advisers LLC’s remaining 40% stake. The transaction involves forming a new U.S.-based parent company, New NovaGold, which will be listed on the NYSE under a one-to-one share exchange ratio. Management expects this consolidation to streamline operations and significantly boost attributable gold production from Donlin Gold by an additional 520,000 ounces annually for the first ten years.
Tickers: $NG
Topics: cash reserves guidance update net loss project funding