Novagold Resources Inc. and Paulson Advisers LLC have announced positive momentum for the Donlin Gold project following a recent change in ownership. The project workshop held in Alaska brought together the Donlin Gold team, senior representatives from Novagold and Paulson, and key stakeholders, including John Paulson and Dr. Thomas S. Kaplan.
The recent developments include the awarding of a contract to prepare the request for proposals (RFP) for the updated bankable feasibility study (BFS). Donlin Gold also identified hiring priorities and initiated efforts to fill critical roles to support project development.
Meetings were held with natural gas pipeline developers and distributors to explore avenues for bringing natural gas to Southcentral Alaska, potentially benefitting Donlin Gold.
In addition, the company anticipates selecting top-tier qualified engineering firms by the fourth quarter of 2025 to support the project's development. The 2025 Donlin Gold 15,000-meter drill program has been completed, with the company expecting to provide an update on the drill results in the coming months.
The Donlin Gold project is regarded as one of the largest, highest-grade, and most prospective known open-pit gold deposits in the world. Once in production, it is expected to produce an average of more than one million ounces per year over a 27-year mine life on a 100% basis.
As the project advances, Novagold remains committed to responsibly advancing the development of what would be America's largest gold mine, while honoring the enduring values of the region and respecting the long-term interests of all stakeholders.
The recent site visit and discussions with government leaders and prospective contractors for key infrastructure components underscore the shared dedication to progressing the project in a responsible, inclusive, and collaborative manner.
Novagold is a well-financed precious metals company focused on the development of the Donlin Gold project in Alaska, which is regarded as one of the safest mining jurisdictions in the world.
The company's measured and indicated mineral resource categories for the Donlin Gold project currently stand at approximately 39 million ounces of gold, inclusive of proven and probable mineral reserves.
Novagold continues to uphold the highest standards of openness and transparency as it competitively requests proposals and bids from top firms to guide the successful and responsible development of the Donlin Gold project.
This recent progress indicates a positive trajectory for the Donlin Gold project and underscores the commitment to responsible and collaborative development in Alaska. The market has reacted to these announcements by moving the company's shares 0.17% to a price of $5.92. Check out the company's full 8-K submission here.
