Post by
Betteryear2 on Apr 05, 2022 7:17pm
NOVAGOLD Reports First Quarter 2022 Financial Results
Final Results from 2021 Donlin Gold Drilling Program Continued to
Deliver High-Grade Intercepts as expected, Supporting the Modelled Resource Estimate
2022 Donlin Gold Drill Program is Largest in more than a Decade, Focused on Advancing Preparation for Feasibility Work
Robust $155-Million Treasury with 2023 Receivable of $25 Million
- The success of the expanded 2021 Donlin Gold drill program delivered on its objectives to validate recent geologic modelling concepts to support future feasibility work and test for extensions of high-grade zones. The results support the existing global resource estimate, the recent modelling concepts, and strategic mine planning work.
- With the largest project budget in more than a decade, a plan is in place to advance Donlin Gold up the value chain in 2022 and position the project to be able to proceed with the preparation of an updated feasibility study, subject to Donlin Gold LLC Board approval.
- NOVAGOLD’s treasury remained strong with $155 million in cash and term deposits as of February 28, 2022, with another $25 million due in July 2023 from Newmont, the total being more than sufficient to advance Donlin Gold up the value chain.
VANCOUVER, British Columbia, April 05, 2022 (GLOBE NEWSWIRE) -- NOVAGOLD RESOURCES INC. (“NOVAGOLD” or “the Company”) (NYSE American, TSX: NG) today released its 2022 first quarter financial results and an update on its Tier One1 gold development project, Donlin Gold, which NOVAGOLD owns equally with Barrick Gold Corporation (“Barrick”).
NOVAGOLD Reports First Quarter 2022 Financial Results
Be the first to comment on this post