NG - NovaGold Resources GAAP EPS of -$0.03

2023-04-04 17:15:02 ET

• NovaGold Resources press release ( NYSE: NG ): Q1 GAAP EPS of -$0.03.
• The 2023 field program commenced early in the year to complete the necessary fieldwork and geotechnical drilling for the Alaska Dam Safety certificates applications.
• With the successful completion of the largest drill program in over 15 years, the owners are focused on finalizing the resource model and trade-off studies capping off the preparatory work toward proceeding with an updated feasibility study.
• NOVAGOLD’s treasury remained strong with $116 million in cash and term deposits as of February 28, 2023, with an additional $25 million due in July 2023 from Newmont, keeping NOVAGOLD in a healthy financial position to advance the Donlin Gold project up the value chain.
• 2023 Outlook: We anticipate spending approximately $31 million, which includes, $13 million for corporate general and administrative costs, $1 million for working capital and $17 million to fund our share of expenditures at the Donlin Gold project.
• Shares +0.76% AH.

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