NovaGold expects share of Donlin Gold funding to increase to $24M

The company said, “While the 2025 Donlin Gold budget of $43 million remains unchanged following recent project meetings held by the current Donlin Gold project owners, we expect NOVAGOLD’s (NG) share of Donlin Gold 2025 funding to increase to $24 million due to NOVAGOLD’s incremental 10 percent funding obligation following the June 3, 2025 closing of the Donlin Gold transaction. Also, as a result of the closing of the Donlin Gold transaction, we expect to incur higher professional fees for the year resulting in an increase of NOVAGOLD’s 2025 corporate general and administrative costs to $18 million from our previous guidance of $16 million. The updated 2025 guidance excludes transaction costs of approximately $9 million incurred during the second and third quarter of 2025 related to the Donlin Gold transaction and a working capital adjustment of approximately $1 million paid to Barrick Mining on closing, which have both been capitalized to the Company’s investment in Donlin Gold along with $200 million of consideration paid.’