NovaGold Resources Raises $260 Million Through Public Offering and Private Placement to Fund Increased Stake in Donlin Gold Project
Reuters
Oct 01, 2025
NovaGold Resources Raises $260 Million Through Public Offering and Private Placement to Fund Increased Stake in Donlin Gold Project
NovaGold Resources Inc. has announced the completion of a significant financing initiative, including a public offering and a concurrent private placement. The company raised approximately $195.2 million in net proceeds from the sale of 55,027,500 common shares at $3.75 per share in the public offering, following the full exercise and closing of the underwriters' option. An additional $64.4 million was generated through the private placement, bringing total net proceeds to around $260 million. These funds supported NovaGold's $200 million payment to increase its ownership in Donlin Gold LLC to 60 percent and will also be used for general corporate purposes. Following these transactions, NovaGold ended the third quarter with a robust treasury of approximately $125 million in cash and term deposits.
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