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An update from Novagold Resources New ( (TSE:NG) ) is now available.
In its 2024 fiscal year-end report released on January 23, 2025, Novagold Resources Inc. highlighted a strong treasury position with $101 million in cash and term deposits, alongside net annual expenditures of $24.5 million, which were below the expected guidance. Key achievements for 2024 included technical advancements at the Donlin Gold project such as metallurgical test work completion, resource model updates, and community engagement efforts. The project continued to receive political support and navigated through permit extensions and legal processes. Looking forward, a budget of $43 million for 2025 was approved for further development activities, aiming at long-term sustainable value creation.
More about Novagold Resources New
Novagold Resources Inc. is a development-stage company focused on gold mining, particularly through its Tier One gold development project, Donlin Gold, which it owns equally with Barrick Gold Corporation. The company operates in the mining industry with a market focus on developing one of the largest undeveloped gold assets globally located in a stable, mining-friendly jurisdiction, Alaska.
YTD Price Performance: -3.79%
Average Trading Volume: 1,363,908
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $1.11B
Learn more about NG stock on TipRanks’ Stock Analysis page.
