NOVAGOLD to Create $4.2 Billion U.S. Gold Company Through Donlin Gold Consolidation

Mining News  |  2026-07-23 03:36:30   |   By

The acquisition significantly strengthens NOVAGOLD's resource base by adding more than 16 million ounces of measured and indicated gold resources, including around 13 million ounces of proven and probable reserves.

SEATTLE (Scrap Monster): NOVAGOLD Resources has reached an agreement to acquire the remaining ownership interest in the Donlin Gold project from Paulson Advisors. The deal, expected to close during the fourth quarter, will create a combined U.S.-based gold company valued at approximately $4.2 billion.

Following the transaction, a newly formed Delaware-incorporated company, NovaGold Corporation, will hold the combined interests in the Donlin Gold project. Existing NOVAGOLD shareholders will own nearly 65% of the new company, while Paulson Advisors will receive about 35% of the shares in exchange for its Donlin stake. Including its existing NOVAGOLD holdings, Paulson's ownership will increase to around 40%.

The acquisition significantly strengthens NOVAGOLD's resource base by adding more than 16 million ounces of measured and indicated gold resources, including around 13 million ounces of proven and probable reserves. It is also expected to increase the company's attributable annual gold production by more than 520,000 ounces during the mine's initial ten years of operation.

Located in southwest Alaska, Donlin Gold contains approximately 40 million ounces of measured and indicated gold resources at an average grade of 2.22 grams per tonne, including reserves.