NOVAGOLD, a leading precious metals company, has recently announced its third quarter financial results for 2024 and provided updates on its gold development project, Donlin Gold, in collaboration with Barrick Gold Corporation. With a robust treasury of approximately $106 million in cash and term deposits, NOVAGOLD is set to drive the development of Donlin Gold further.
Achievements in the Third Quarter of 2024:
- Metallurgical Test Work: Advancement of pilot plant test work to optimize flowsheet design.
- Dam Safety Certification: Majority of preliminary design packages submitted to Alaska Department of Natural Resources with final documents expected by year-end.
- Resource Modelling: Upcoming completion of updated resource modelling by the Donlin Gold team.
- Environmental Planning: Incorporation of field and geochemical data for operational and closure planning.
- Workshop in Alaska: Collaborative workshop with Barrick to review project progress and plan activities for 2025.
Community Engagement and Initiatives:
- Crooked Creek and Georgetown Tour: Hosted residents for a project site tour.
- Public Open House: Conducted in Anchorage for open discussions about the project.
- Educational Programs: Supported programs connecting youth with Elders and promoting academic and extracurricular activities.
- Partnership with ASAA: Enhanced support for high school-level programs in Alaska.
Key Updates:
- Appointment of VP and CFO: Peter Adamek appointed as new VP and CFO.
- Strong Financial Position: Treasury of $105.6 million in cash and term deposits as of August 31, 2024.
Ongoing Community Engagement:
- Stakeholder Partnerships: Strong collaboration with Calista and TKC for community and government engagement.
- Environmental Stewardship: Continued support for regional environmental programs and initiatives.
Legal and Permit Updates:
- Federal and State Litigation: Defending permits against legal challenges and working towards securing remaining key state permits.
Conclusion:
NOVAGOLD remains committed to advancing the Donlin Gold project with a focus on safety, sustainability, and community engagement. With significant achievements in the third quarter of 2024 and ongoing support for stakeholders, the company is well-positioned to drive the project forward and create long-term value for shareholders and stakeholders.
