NOVAGOLD(US:NG)2024-01-25 19:30Donlin Gold Project Highlights - Donlin Gold is positioned to become a million-ounce gold producer in the Americas[6], with an anticipated 1.13 million ounces per year over a 27-year mine life[6] - The project boasts 39 million ounces of gold contained in measured and indicated mineral resources[25], with an average grade of 2.24 g/t Au, more than double the global average[25] - From 2006 to 2011, measured and indicated resources increased by 135% from 16.6 million ounces to 39 million ounces[8] - The 2024 budget for Donlin Gold LLC is approved at $28.5 million for mine planning, metallurgical test work, regional infrastructure support, resource modeling, geoscience hydrology, closure planning, dam certificates, litigation support, government affairs, community engagement, and sponsorships[39] Financial Performance - NOVAGOLD's cash and term deposits balance was $125.7 million as of November 30, 2023[36] - The company forecasts spending $14.25 million on the Donlin Gold project and $16.95 million on corporate G&A, totaling $31.2 million[37] - The net loss for the year ended November 30, 2023, was $46.8 million, compared to $53.3 million in 2022[32] Market and Investment Thesis - Gold equities have underperformed the price of gold, creating an opportunistic entry point for investors[42] - Central banks are robustly acquiring gold, with purchases at 2.58 times the preceding decade's quarterly average since the Russia-Ukraine war[43], acquiring 337 tonnes[43] - Top 10 mining companies' reserves dropped by 33% in the past 15 years[45]