NovaGold Resources Inc. reported its second quarter 2025 results, highlighting a net loss of $54,275, primarily due to a non-cash, non-recurring charge of $39,607 related to warrants issued under a backstop commitment agreement. The earnings per share for the quarter stood at ($0.15). Excluding this one-time charge, the results reflect higher expenditures at the Donlin Gold project, aligning with budget expectations. The company also announced a pivotal transaction with Paulson Advisers, increasing its stake to 60% in Donlin Gold LLC, and completed a public equity offering and private placement, resulting in approximately $234 million in net proceeds. As of May 31, 2025, NOVAGOLD had about $319 million in cash and term deposits. The ongoing 2025 Donlin Gold 15,000-meter drill program continues to focus on converting and expanding reserves and resources. The company aims to advance the Donlin Gold project with strategic initiatives, financial discipline, and stakeholder engagement.
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