NovaGold (NG) Hits New All-Time High as Preps Underway for One of World’s Largest Gold Mines

Core Insights - NovaGold Resources Inc. has reached a new all-time high, driven by the commencement of work on the Donlin Gold mine project in Alaska [1][3] - The company's stock price peaked at $10.15 during intra-day trading, closing up 15% at $10.12 following its third-quarter earnings report [2] - Despite the positive market reaction, NovaGold reported a widened net loss of $15.6 million in Q3, a 46% increase from the previous year [4] Group 1: Stock Performance - NovaGold's stock extended its winning streak to five consecutive days, achieving a new all-time high [1] - The stock reached a 52-week high of $10.15 before closing at $10.12, reflecting a 15% increase [2] Group 2: Project Developments - Work has commenced on the Donlin Gold mine project, one of the largest open-pit gold mines globally [3] - The company is in the process of soliciting feasibility study proposals from top-tier engineering firms and plans to award a contract by year-end [3] - Construction is expected to begin next year, with a development timeline of 18 to 24 months [3] Group 3: Financial Performance - NovaGold's net loss for Q3 widened to $15.6 million, up 46% from $10.7 million in the same period last year [4] - Loss from operations increased by 73% to $13.7 million compared to $7.9 million year-on-year [4]