Northwire Canada EditionFriday, November 13, 2026
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Gold 3,885.30 −2.9% Silver 50.06 −3.7% Copper 6.19 −1.5% Oil 88.70 +2.5% Palladium 992.00 −5.2% SEA 35.00 −3.2% GLO 0.300 −6.2% WM 1.42 −2.1% MFG 3.25 −4.7% RAGE 0.295 +0.0% DPM 50.56 −4.2% ARIS 21.08 −4.7% AUEN 0.170 +6.2% FCI 0.540 −1.8% SLI 1.98 −5.3% COCO 0.350 −4.1% BCU 0.060 +0.0% BGF 0.025 +0.0% TDG 0.710 +44.9% PRU 6.04 −4.1% NGEX 21.01 −5.2% Gold 3,885.30 −2.9% Silver 50.06 −3.7% Copper 6.19 −1.5% Oil 88.70 +2.5% Palladium 992.00 −5.2% SEA 35.00 −3.2% GLO 0.300 −6.2% WM 1.42 −2.1% MFG 3.25 −4.7% RAGE 0.295 +0.0% DPM 50.56 −4.2% ARIS 21.08 −4.7% AUEN 0.170 +6.2% FCI 0.540 −1.8% SLI 1.98 −5.3% COCO 0.350 −4.1% BCU 0.060 +0.0% BGF 0.025 +0.0% TDG 0.710 +44.9% PRU 6.04 −4.1% NGEX 21.01 −5.2%
Earnings

SAVE THE DATE: NOVAGOLD 2025 Year-End Report, Conference Call and Video Webcast

NovaGold Clears Legal Hurdles as Paulson Partnership Ignites Revaluation, But $7.4B CAPEX Shadow Looms Large

By The Northwire Desk — AI Analysis Jan 07, 2026 · 17:00 NG · 13.7 Novagold Resources Inc.
Executive Summary
  • The most recent news (January 7, 2026) is a routine administrative announcement scheduling the 2025 Year-End Report and conference call for January 22, 2026.
  • The preceding material news (November 25, 2025) reported high-grade drilling results from the 18,055-meter 2025 program at Donlin Gold, with highlights including 26.22 g/t Au over 4.38m and 4.51 g/t Au over 21.03m.
  • Critically, the November release confirmed a major legal victory: the Alaska Supreme Court affirmed water rights and the State Right-of-Way (ROW) lease, resolving significant permitting litigation.
  • The project was accepted into the federal FAST-41 permitting program, intended to streamline remaining federal coordination.
  • Management confirmed the Bankable Feasibility Study (BFS) is expected to commence by Q1 2026.
Material Impact
  • The most recent news (Jan 7) has no material impact as it is a scheduling update.
  • However, the context provided by the November 25 news is highly material and positive. Affirmation by the Alaska Supreme Court removes a primary "tail-risk" regarding project access and water usage, which has historically weighed on the stock's valuation.
  • The 2025 drilling results consistently exceed the current resource grade (2.24 g/t), suggesting potential for grade improvement in future mine plans or resource updates.
  • The transition from the Barrick-Novagold 50/50 partnership to the Novagold (60%) / Paulson (40%) partnership in June 2025 has clearly accelerated project momentum, moving the asset toward a BFS after years of perceived stagnation under the previous partner's capital allocation priorities.
  • Despite these positives, the project remains in the "Pre-construction" phase with a massive $7.4 billion initial CAPEX requirement (LOM estimate), meaning the company is still years away from cash flow and faces significant future financing dilution.
NG · Price
Company Overview
  • Novagold is a development-stage company focused on the Donlin Gold project in Alaska (60% interest).
  • Donlin Gold is one of the world's largest undeveloped gold deposits, with M&I resources of 39 million ounces at 2.24 g/t Au.
  • The project is located on private land owned by Alaska Native Corporations (Calista and TKC).
  • Projected production is ~1.1 million ounces per year over a 27-year mine life.
Read the original news release →

More from Novagold Resources Inc.

Nov 10, 2026 · 17:00

Novagold consolidates Donlin ownership on December 1, with a New York Stock Exchange listing to follow.

M&A / Property Nov 04, 2026 · 17:00

Novagold shareholders approved the Donlin consolidation, a transaction valued at $1.2 billion that is still pending final closing procedures.

M&A / Property Oct 08, 2026 · 08:00

Novagold reports a third-quarter loss of $36 million and raises full-year 2026 cost guidance by $11.5 million due to Donlin deal fees.

Earnings Oct 05, 2026 · 17:15

Novagold shareholders will vote on November 3 to finalize the 100% acquisition of the Donlin project, with the transaction timeline reconfirmed.

M&A / Property Aug 11, 2026 · 16:45

Novagold tapped strategic advisors to fund Alaska’s largest undeveloped gold mine following its 100% consolidation of the project.

Financings Jul 22, 2026 · 07:00

Novagold will acquire 100% of the Donlin Gold project in an all-share transaction, consolidating America’s largest undeveloped gold mine.

M&A / Property