NOVAGOLD RESOURCES INC

Listed Company

NGCIK 0001173420NYSELarge AcceleratedGold And Silver OresA1CAFY ends Nov 30

Period

FY 2025

Revenue

—

Net Income

$-94.66M

Total Assets

$335.91M

Equity

$163.79M

Shares Out

438.78M

Op. Cash Flow

$-14.03M

Business

NOVAGOLD RESOURCES INC operates in the gold mining industry, primarily focused on advancing the Donlin Gold project through exploration and project development activities. The company provides mineral exploration, resource modeling, metallurgical testing, permitting support, engineering, mine and project planning, community and government relations, and related consulting services rather than producing gold. Its principal business arrangement is participation in the Donlin Gold joint venture (Donlin Gold LLC) and a group of wholly owned subsidiaries that support project work. NOVAGOLD’s activities are concentrated in southwestern Alaska with technical work also conducted in the United States and Canada and ongoing engagement with local communities and stakeholders.

Summary from filing dated 2025-01-23

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-11-30	FY 2024 2024-11-30	FY 2023 2023-11-30	FY 2022 2022-11-30	FY 2021 2021-11-30
General and administrative (Note 13)	25	25	22	20	20
Equity loss Donlin Gold (Note 5)	22	13	19	28	17
Operating Expenses	47	38	40	48	37
Loss from operations	−47	−38	−40	−48	−37
Warrant expense (Note 11)	40	0	0	—	—
Interest expense - promissory note	−15	−15	−13	−8	−6
Interest and dividend income	5	5	6	2	458,000
Accretion of notes receivable (Note 4)	0	0	579,000	849,000	3
Remediation expense	0	−339,000	−541,000	−366,000	938,000
Other income, net (Note 12)	2	3	782,000	784,000	282,000
Loss before income taxes	−95	−45	−47	−53	−40
Income tax expense	0	−724,000	−39,000	33,000	−137,000
Net loss	−95	−46	−47	−53	−41
Foreign currency translation adjustments	60,000	−635,000	−54,000	−1	587,000
Comprehensive loss	−95	−46	−47	−54	−40
Net loss per common share basic and diluted (in dollars per share)	−0.25	−0.14	−0.14	−0.16	−0.12
Basic and diluted (thousands) (in shares)	375	334	334	333,236	331,546

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-11-30	FY 2024 2024-11-30	FY 2023 2023-11-30	FY 2022 2022-11-30	FY 2021 2021-11-30
Cash and cash equivalents	110	42	46	64	91
Term deposits	5	59	80	62	78
Other assets (Note 6)	2	2	1	2	327,000
Current assets	117	103	127	153	169
Investment in Donlin Gold (Note 5)	213	3	3	4	4
Other assets (Note 6)	5	4	3	3	2
Assets	336	110	133	159	199
Accounts payable and accrued liabilities	2	1	703,000	769,000	682,000
Accrued payroll and related benefits	3	2	3	3	3
Income taxes payable	0	220,000	0	—	—
Other liabilities (Note 9)	301,000	413,000	404,000	1	1
Current liabilities	5	4	4	5	4
Promissory note (Note 7)	166	152	137	124	116
Other liabilities (Note 9)	885,000	1	859,000	1	464,000
Liabilities	172	157	142	129	121
Common Shares Authorized 1,000 million shares, no par value Issued and outstanding 406.9 and 334.6 million shares, respectively	2,252	1,989	1,987	1,984	1,979
Contributed surplus	137	93	89	83	82
Accumulated deficit	−2,200	−2,105	−2,059	−2,013	−1,959
Accumulated other comprehensive loss	−25	−25	−24	−24	−23
Equity, Attributable to Parent	164	−47	−8	30	78
Liabilities and Equity	336	110	133	159	199

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-11-30	FY 2024 2024-11-30	FY 2023 2023-11-30	FY 2022 2022-11-30	FY 2021 2021-11-30
Share-based compensation	7	7	9	8	8
Gain on sale of mineral property	0	−743,000	−556,000	0	−200,000
Change in fair value of marketable securities	−2	−1	−269,000	−189,000	−418,000
Foreign exchange (gain) loss	132,000	−516,000	43,000	−595,000	336,000
Other operating adjustments	20,000	35,000	49,000	−44,000	7,000
Other assets	842,000	100,000	−694,000	—	—
Accounts payable and accrued liabilities	610,000	708,000	−62,000	—	—
Accrued payroll and related benefits	173,000	−309,000	268,000	—	—
Income taxes payable	−220,000	226,000	0	—	—
Remediation liability	−220,000	−157,000	−1	—	—
Net cash used in operating activities	−14	−13	−8	−12	−10
Proceeds from term deposits	59	140	148	148	142
Purchases of term deposits	−5	−119	−166	−132	−159
Funding of Donlin Gold	−22	−12	−18	−28	−18
Investment in Donlin Gold (Note 5)	−210	0	0	—	—
Proceeds from note receivable	0	0	25	0	75
Proceeds from disposal of equity securities (Note 15)	952,000	59,000	0	—	—
Proceeds from sale of mineral property	0	743,000	556,000	0	200,000
Other	0	0	−132,000	73,000	0
Net cash provided from investing activities	−178	9	−10	−12	40
Equity issuances (Note 11)	271	0	0	—	—
Equity issuance costs (Note 11)	11	0	0	—	—
Withholding tax on share-based compensation	81,000	174,000	0	2	−731,000
Net cash used in financing activities	260	−174,000	0	−2	−731,000
Effect of exchange rate changes on cash and cash equivalents	7,000	−64,000	−19,000	−387,000	420,000
Net change in cash and cash equivalents	68	−4	−18	−27	30

Filings

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