NOVAGOLD Files Third Quarter 2025 Report

Core Viewpoint - NOVAGOLD Resources Inc. has made significant progress in its Donlin Gold project, highlighted by the completion of a transformative acquisition and ongoing exploration activities, positioning the project to potentially become the largest gold mine in the United States [8][9][12]. Financial Results - As of August 31, 2025, NOVAGOLD held approximately $125 million in cash and term deposits, with net third-quarter cash expenditures of $9 million, primarily for the Donlin Gold project [3][4]. - The company reported a net loss of $15.6 million for the third quarter of 2025, translating to earnings per share of ($0.04) [4]. - The total cash equivalents decreased by $235.6 million in the third quarter, mainly due to the completion of the Donlin Gold transaction [32]. Project Developments - The company successfully completed a $1 billion acquisition of Barrick Mining's 50% interest in Donlin Gold, increasing its stake to 60% [6][8]. - A Request for Proposals (RFP) for the Bankable Feasibility Study (BFS) has been issued, with contract selection expected by year-end [19][28]. - The 2025 drill program confirmed consistent mineralization across multiple zones, with standout intervals containing up to 23.49 g/t gold [17][20]. Community Engagement and Environmental Initiatives - NOVAGOLD has engaged with local stakeholders, including hosting site visits for community representatives and government officials [11][20]. - The company has advanced environmental restoration efforts, including habitat restoration projects to support aquatic life [23][24]. Regulatory and Permitting Status - The project has received most federal and state permits, with ongoing support from state agencies in defending its water rights permits and pipeline right-of-way [25][27]. - The company is actively involved in maintaining and defending its permits amid ongoing litigation [26][27]. Future Outlook - The company anticipates awarding the BFS contract and commencing work shortly thereafter, with plans for further exploration to expand resources [28][29]. - NOVAGOLD's share of the Donlin Gold 2025 funding is expected to increase to $24 million due to its increased ownership stake [36].