NOVAGOLD RESOURCES INC (NG): M&A transaction — NOVAGOLD closes $1B acquisition; increases Donlin Gold stake to 60%

NOVAGOLD RESOURCES INC

NOVAGOLD paid $200M for additional 10% in Donlin Gold, now owns 60%; Paulson acquired 40% for $800M.
New LLC agreement gives equal governance rights despite NOVAGOLD's 60% ownership; voting adjusted to 50%.
Amended promissory note to Barrick: $158.9M debt, secured by proceeds; prepayable for $100M within 18 months.
NOVAGOLD had $327M pro forma cash as of Mar 1, 2025 to fund acquisition and ongoing Donlin Gold activities.
2025 Donlin Gold budget set at $43M; workstream to update Feasibility Study has commenced.

item 1.01 item 2.01 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

NOVAGOLD RESOURCES INC completed an acquisition involving Barrick Gold Corporation for $200 million (closed 2025-06-03).

Action: acquisition
Counterparty: Barrick Gold Corporation
Consideration: $200 million
Closing: 2025-06-03

Exact text from the filing

NOVAGOLD, through NGRA, acquired an additional 10% interest in Donlin Gold for $200 million, increasing its stake to 60% of Donlin Gold, while Paulson, through Donlin Holdings, acquired the remaining 40% interest for $800 million.

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Source: SEC EDGAR

accession 0001171843-25-003649

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