NOVAGOLD(NG)2024-01-24 22:05Donlin Gold Project Updates - In 2023, the Donlin Gold project completed a field program that included 1,840 meters of geotechnical drilling, 74 test pits, and 25 kilometers of seismic survey[53]. - The Donlin Gold LLC board approved a budget of $28.5 million for 2024, focusing on resource modeling, mine planning, and dam safety certificate applications[55]. - The 2023 field program included hydrogeologic drilling with instrumentation and pump tests, providing essential information for mine planning[53]. - The company is focused on advancing the Donlin Gold project for the benefit of all shareholders and stakeholders[55]. Financial Performance - The average daily afternoon LBMA gold price for 2023 was $1,941 per ounce, with a high of $2,078 and a low of $1,811[66]. - A 1% change in the U.S. prime rate would result in an increase or decrease of approximately $1.4 million in interest accrued on the promissory note owed to Barrick per annum[361]. Safety and Compliance - The Donlin Gold project has worked over 3.4 million hours without a lost time incident, reflecting a strong safety record[53]. - The company is in compliance with all material respects of applicable mining, health, safety, and environmental regulations in the United States[58]. Operational Capability - The competition for financing and technical expertise in mineral resource exploration is significant, with competitors having greater resources[59]. - The company has successfully secured the necessary equipment and supplies for its operations, indicating no foreseeable shortages[63].