NovaGold Resources Reports Fiscal 2024 Net Loss
MT Newswires Live01-23
NovaGold Resources (NG) reported a fiscal 2024 net loss Thursday of $0.14 per diluted share, unchanged from a year earlier.
The company said it ended fiscal 2024 with $101.2 million in cash and term deposits.
NovaGold said it expects expenditure in fiscal 2025 to be $37.5 million, including $21.5 million to fund its share of the Donlin Gold project in Alaska.
The company said it has not recorded any revenue from its share in the Donlin Gold project. "We expect to continue to incur net losses unless and until such time the Donlin Gold project commences commercial production and generates sufficient revenues to fund continuing operations," the company said in a regulatory filing.
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