Novagold appoints advisors for Donlin Gold financing

Novagold Resources has appointed financial and strategic advisors to assist in securing financing for its Donlin Gold project in Alaska, the company said on Monday.

The advisors will support efforts to finalize project financing, a critical step toward advancing the development of Donlin Gold, one of the largest undeveloped gold deposits globally. The project, located in southwest Alaska, is a joint venture between Novagold (50%) and Barrick Gold (50%).

Donlin Gold has an estimated mineral reserve of 33.8 million ounces of gold, with a mine life of over 20 years. The project has faced delays in the past due to permitting and financing challenges, but recent progress has included securing key permits and advancing environmental assessments.

The appointment of advisors underscores Novagold's commitment to securing the necessary capital to move the project forward. Financial terms of the advisory agreements were not disclosed.

Donlin Gold is expected to contribute significantly to U.S. gold production once operational, though no timeline for construction or production has been provided. The project's development remains contingent on securing stable financing and regulatory approvals.