NovaGold (NG) Is Up More than 32.5% Over the Past 6 Months, Here’s Why

NovaGold Resources Inc. (NYSEAMERICAN:NG) is one of the 11 Hot Penny Stocks to Buy Right Now. On June 25, NovaGold Resources Inc. (NYSEAMERICAN:NG) announced its second quarter 2025 report. The company also shared updates on its Tier One gold development project called Donlin Gold, which is owned 60 percent by NOVAGOLD and 40 percent by funds managed by Paulson Advisers LLC.

The company highlighted that it acquired an additional 10% economic interest in Donlin Gold LLC from Barrick Mining Corporation for $200 million, raising its ownership from 50% to 60%. Moreover, Paulson Advisers acquired a 40% interest for $800 million, thereby establishing a new partnership with equal governance rights between NovaGold Resources Inc. (NYSEAMERICAN:NG) and Paulson to advance the project.

An engineer overlooking a complex project with construction vehicles in the distance.

NovaGold Resources Inc. (NYSEAMERICAN:NG) is also progressing a 15,000-meter drill program focused on converting and expanding mineral reserves and resources. Management noted that the drilling began in February 2025, with over 8,400 meters completed by mid-year. Moreover, efforts to update the Feasibility Study are underway, with contracts expected to be awarded by year-end 2025. The company reported a net loss of $54,275, primarily due to a non-cash, non-recurring charge of $39,607 related to warrants issued under a backstop commitment agreement.

NovaGold Resources Inc. (NYSEAMERICAN:NG) is a precious metals company focused on the development of the Donlin Gold project. The Donlin Gold project is recognized as the world’s largest and highest-grade undeveloped gold deposit.

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Disclosure: None. This article is originally published at Insider Monkey.