Novagold reports Q3 loss and plans to acquire remaining 40% of Donlin Gold
Novagold Resources posted a Q3 2026 net loss of $36.0 million, or $(0.08) per share, and held $343.4 million in cash. The company announced an all‑share deal to buy Paulson’s 40% stake in Donlin Gold, raising its ownership from 60% to 100%. The transaction, which requires shareholder and regulatory approval, is expected to close by year‑end 2026 and will create a new U.S. parent listed on the NYSE.
Why it matters
The company says the acquisition will be immediately accretive, adding about 16 million ounces of resources and boosting annual production by over 520,000 ounces, which could lift the combined entity’s market value to roughly $5 billion (Novagold’s statement).
Key facts
- 1Novagold will increase its ownership in Donlin Gold from 60% to 100% by acquiring Paulson’s 40% stake in an all‑share transaction. globenewswire.com
- 2The transaction is expected to close by year‑end 2026, subject to shareholder, court and regulatory approvals. globenewswire.com
- 3Novagold ended the quarter with approximately $343.4 million in cash and term deposits. globenewswire.com
- 4Q3 2026 net loss was $36.0 million, resulting in earnings per share of $(0.08). globenewswire.com
- 5Operational cash expenditures for the quarter were $28.1 million. globenewswire.com
- 6The combined company is projected to have a market capitalization of about $5 billion after the transaction. finance.yahoo.com
Summary written by AlphAI from 10 of 10 sources. Not investment advice. Figures are as stated by the linked sources.