Novagold Resources Reports Wider Third-Quarter Loss on Higher Project Spending
Novagold Resources Inc. (AMEX:NG) reported a net loss of $36.0 million, or $0.08 per diluted share, for the third quarter of 2026. This represents a wider loss compared to the same period in 2025, when the company recorded a net loss of $15.6 million, or $0.04 per diluted share. Shares of the company fell 3.93% to $6.36 following the announcement.
The increased loss was primarily driven by higher spending on the Donlin Gold project and rising general and administrative expenses. To accelerate the project's development, the joint team expanded its workforce from 35 to 77 employees. Additionally, the company appointed Endeavour Financial and Macquarie Capital to help structure and secure project and infrastructure financing.
Looking ahead, the Donlin Gold Bankable Feasibility Study remains on schedule for completion in 2027, with engineering firm Fluor leading the integration work. Investors will also want to monitor the company's ongoing community outreach and permitting efforts, which are continuing alongside active legal proceedings.
Key points
- Novagold Resources reported a net loss of $36.0 million for the third quarter of 2026, compared to a loss of $15.6 million in the prior-year period.
- Diluted loss per share widened to $0.08 from $0.04 in the third quarter of 2025.
- The larger loss was driven by increased spending on the Donlin Gold project and higher general and administrative costs.
- The company's Bankable Feasibility Study for the Donlin Gold project remains on track for completion in 2027.
- Novagold hired Endeavour Financial and Macquarie Capital to arrange project and infrastructure financing.
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How we writeDisclaimerQuestions and answers
Why did Novagold Resources report a larger loss in Q3 2026?
The wider loss was driven by increased spending on the Donlin Gold project and higher general and administrative expenses.
When is the Donlin Gold Bankable Feasibility Study scheduled to be completed?
The study remains on schedule for completion in 2027, with engineering firm Fluor leading the integration work.
Who is Novagold working with to secure financing for the Donlin Gold project?
The company has appointed Endeavour Financial and Macquarie Capital to structure project and infrastructure financing and to engage potential financiers.