Mining & Metals
NovaGold Resources Q2 Net Loss Narrows
NovaGold Resources (NG.TO) Q2 net loss for the quarter ended May 31 narrowed to US$0.06 per share, from loss of US$0.15 per share, in the prior year period.Loss from operations jumped to US$25.8 million from US$12.3 million a year ago, reflecting higher expenditures related to the bankable feasibility study update and other project-related expenses, the company said Wednesday.NovaGold, a development stage company with no production, ended the quarter with US$370.2 million in cash and term deposits.The company confirmed that a feasibility study update for its Donlin Gold project in Alaska is targeted for completion in 2027 and that it is fully funded to complete the study.Donlin Gold is 60%-owned by Novagold and 40% by Donlin Gold Holdings.
$NG.TO
