Novagold Q3 2021 Earnings Report
Key Takeaways
NOVAGOLD released its 2021 third quarter financial results and an update on its Donlin Gold project. The Donlin Gold LLC Board approved an additional $3 million for 2021 to advance studies and increase staffing needed to lay the foundation for a new feasibility study. As of the end of the third quarter, NOVAGOLD had more than $170 million in cash and term deposits.
Nearing the successful completion of the expanded 2021 drill program.
Excitement and indications of the potential feeder zones for the ACMA and Lewis deposits.
Fulfillment of commitments made and enrichment of relationships with partnerships at Barrick, Calista, and TKC.
Approval by the Donlin Gold LLC Board of additional funding in 2021 in preparation for a new feasibility study for the Donlin Gold project.
Novagold
Novagold
Forward Guidance
NOVAGOLD anticipates spending approximately $32 million in 2021, which includes $19 million to fund its share of expenditures at the Donlin Gold project and $13 million for corporate general and administrative costs.
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.