Novagold Q4 2023 Earnings Report
Key Takeaways
NOVAGOLD reported its fiscal year 2023 financial results, highlighting a strong treasury of $126 million in cash and term deposits and continuous work at the Donlin Gold project to enhance its value and visibility. The company's net loss decreased, and it is focused on advancing the Donlin Gold project with ongoing fieldwork, permitting, and community engagement.
Completed the 2023 fieldwork program at Donlin Gold, including geotechnical and hydrological drilling.
Maintained existing permits and advanced the Alaska Dam Safety Certificates.
Continued engagement with stakeholders and governments in the Y-K region, Alaska, and Washington, D.C.
Maintained a strong treasury of $126 million in cash and term deposits.
Novagold
Novagold
Forward Guidance
NOVAGOLD anticipates expenditures of approximately $31.2 million in fiscal year 2024, with a focus on advancing the Donlin Gold project, maintaining stakeholder support, promoting safety and sustainability, and preserving a healthy balance sheet.
Positive Outlook
- Continue to advance the Donlin Gold project towards a construction decision
- Maintain support for Donlin Gold among the project’s stakeholders
- Promote a strong safety, sustainability, and environmental culture
- Uphold a favorable reputation of NOVAGOLD
- Preserve a healthy balance sheet