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May 31, 2021
Novagold Q2 2021 Earnings Report
Released second quarter financial results and provided an update on its Tier One gold development project Donlin Gold.
Key Takeaways
NOVAGOLD released its 2021 second quarter financial results and an update on its Donlin Gold project, highlighting the progress of the 2021 drill program, expanded community support, secured key permits, and maintained a robust financial position.
Donlin Gold project camp was safely re-opened in March with four drill rigs deployed.
Approximately 70% of Donlin Gold direct hires for this year’s drill program are Alaska Natives.
The ADEC Commissioner released his decision in late May to uphold the Donlin Gold 401 Certification that was granted in 2018.
NOVAGOLD’s strong financial position of approximately $108 million in cash and term deposits as of May 31, 2021.
Novagold
Novagold
Forward Guidance
NOVAGOLD anticipates spending approximately $31 to $35 million in 2021, with a focus on advancing the Donlin Gold project, maintaining stakeholder support, promoting safety and sustainability, and managing the Company treasury effectively.
Positive Outlook
- Continue to advance the Donlin Gold project toward a construction decision
- Maintain/increase support for Donlin Gold among the project’s stakeholders
- Promote a strong safety, sustainability, and environmental culture
- Maintain a favorable reputation of NOVAGOLD, its governance practices, and its project among shareholders
- Manage the Company treasury effectively and efficiently, including streamlining the corporate structure.