NOVAGOLD, NM ARTICLE 2020-06-19

1. NovaGold Resources

Market cap: US$2.91 billion

An undated photo of the camp at NovaGold Resources’ Donlin Gold project in Alaska, now a joint venture with Barrick Gold. Credit: NovaGold Resources.

NovaGold Resources (TSX: NG; NYSE-AM: NG) owns 50% of the Donlin gold project in Alaska, with Barrick Gold owning the other 50%. The project is located in the historic Kuskokwim Gold Belt in southwestern Alaska, 16 km north of the village of Crooked Creek. The Donlin project is one of the highest grade known open-pit gold deposits, with a measured and indicated resource of 541 million tonnes grading 2.24 grams gold per tonne for 39 million oz. gold.

The company says it is well funded and does not need to raise money until a decision is taken to build the project. As of June 2020, NovaGold held US$134.3 million in cash and term deposits on its balance sheet. The company’s largest shareholder is Electrum Strategic Resources LP & Affiliates. Other institutional shareholders include Fidelity Management & Research Co., Paulson & Co., BlackRock, Van Eck Associates, First Eagle Investment Management and EXOR Investments. Together the top ten institutions hold about 61% of the company’s issued and outstanding shares.