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Nov 30, 2020
Novagold Q4 2020 Earnings Report
Released its 2020 year-end financial results and provided an update on its Donlin Gold project.
Key Takeaways
NOVAGOLD released its 2020 year-end financial results, highlighting the successful completion of a comprehensive drill program at Donlin Gold despite challenges posed by the COVID-19 pandemic. The company also emphasized its commitment to supporting local communities and advancing the Donlin Gold project towards a construction decision.
Donlin Gold successfully completed a comprehensive drill program, the largest in 12 years, despite COVID-19 challenges, with zero cases on site and no Lost-Time Incidents.
The company provided much-needed support to the surrounding communities in the Y-K region in Alaska, including food, supplies, and partnerships on community engagement.
NOVAGOLD secured the receipt of the Right of Way (ROW) authorization and other land leases and permits for the transportation and fiber optic line facilities for the Donlin Gold project.
NOVAGOLD has a strong cash position with approximately $121.9 million in cash and term deposits as of November 30, 2020, and expects its cash position to improve in 2021.
Forward Guidance
NOVAGOLD anticipates spending approximately $31 to $35 million in 2021, with a focus on advancing the Donlin Gold project toward a construction decision, maintaining stakeholder support, promoting safety and sustainability, preserving a healthy balance sheet, and maintaining a favorable reputation.
Positive Outlook
- Continue to advance the Donlin Gold project toward a construction decision
- Maintain support for Donlin Gold among the project’s stakeholders
- Promote a strong safety, sustainability, and environmental culture
- Maintain a favorable reputation of NOVAGOLD
- Preserve a healthy balance sheet
Historical Earnings Impact
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Avg. Return Before/After Earnings
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