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Get filing alertsNovaGold completes $1B Donlin Gold ownership restructuring, advances feasibility study
Filed May 14, 2026 · Period ending May 14, 2026 · ~1 min read
Key Changes
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high
Completed $1B transaction acquiring Barrick's 50% stake; NovaGold now holds 60%, Paulson-backed entity 40%. Consolidates ownership ahead of development decision.
Exhibit 99.1 view on EDGAR → -
high
Bankable Feasibility Study underway with Fluor as lead engineer; completion expected 2027 to inform construction decision. RFPs issued, contracts awarded to WSP, Worley, Hatch.
Exhibit 99.1 view on EDGAR → -
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Signed non-binding LOI with Glenfarne to evaluate Alaska LNG pipeline (316 miles) for mine power. Key federal/state permits issued for route.
Exhibit 99.1 view on EDGAR → -
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Treasury position $392.5M (Q1 2026). 2026 guidance: $98.5M total spending ($19.7M G&A, $78.8M Donlin funding). Plans to prepay Barrick note before Dec 2026 deadline.
Exhibit 99.1 view on EDGAR →
Summary
NovaGold's 2026 Annual Meeting disclosed completion of a transformative $1 billion ownership restructuring at Donlin Gold. The company increased its stake to 60% (from 50%) for $200 million, while a Paulson-backed entity acquired the remaining 40% for $800 million, replacing Barrick as partner. This consolidation positions the project for a unified development push.
The company has launched a Bankable Feasibility Study with Fluor Corporation as lead engineer, targeting 2027 completion to support a construction decision. Separately, NovaGold signed a non-binding letter of intent with Glenfarne to evaluate natural gas supply via a 316-mile Alaska LNG pipeline, with key permits already secured for the route.
The company holds $392.5 million in cash and expects to spend $98.5 million in 2026 on corporate operations and project advancement. Retail holders should watch for the BFS results in 2027, which will clarify project economics and the path to production at one of North America's largest undeveloped gold deposits.
Section-by-Section Diff
Event · Exhibit 99.1
NOVAGOLD held its 2026 Annual General Meeting on May 14, 2026, presenting project updates and strategic plans for the Donlin Gold development.
Added in current filing · view on EDGAR →
Completed a $1B transaction to acquire Barrick’s 50% interest in Donlin Gold LLC, increasing NOVAGOLD’s ownership to 60% (additional 10% for $200M), with Donlin Gold Holdings 1 acquiring 40% for $800M
In 2025, NOVAGOLD completed a $1 billion transaction to acquire Barrick's 50% interest in Donlin Gold LLC. NOVAGOLD increased its ownership to 60% (acquiring an additional 10% for $200 million), while Donlin Gold Holdings (wholly owned by Paulson Advisers LLC and affiliates) acquired 40% for $800 million. This restructuring consolidates ownership and positions the project for development.
Added in current filing · view on EDGAR →
Issued RFPs for the Bankable Feasibility Study and key project scopes; proposals received in October
NOVAGOLD issued requests for proposals for the Bankable Feasibility Study (BFS) and key project scopes in 2025, with proposals received in October. The company appointed Fluor Corporation as lead engineering firm and awarded contracts to WSP, Worley, and Hatch for specialized components. The BFS is expected to be completed in 2027 and will inform a potential construction decision.
Added in current filing · view on EDGAR → · paraphrased
Commercial Discussions Underway: Donlin Gold signed non-binding LOI with Glenfarne to evaluate potential Alaska LNG natural gas supply and related infrastructure to power the mine
Donlin Gold signed a non-binding letter of intent with Glenfarne in 2026 to evaluate potential Alaska LNG natural gas supply and related infrastructure. The proposed 316-mile natural gas pipeline would run from the Anchorage area to the mine site. Key federal and state permits for the pipeline route have been issued, establishing a regulatory pathway for development.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
2026 ANNUAL GENERAL MEETING OF SHAREHOLDERS M A Y 1 4 , 2026 TSX, NYSE AMERICAN: NG |
NOVAGOLD held its 2026 Annual General Meeting of Shareholders on May 14, 2026. The meeting covered formal business, gold sector outlook, and the company's strategic positioning around the Donlin Gold project. This is a routine annual event required for publicly traded companies.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 30, 2026 · How we verify