NovaGold Resources

(Reuters) -Canada's Barrick Gold said on Tuesday it will exit the Donlin gold Project in Alaska by selling its 50% stake to billionaire John Paulson and NovaGold Resources for up to $1.1 billion. The Donlin Gold project is a proposed mine which holds roughly 39 million ounces of gold. It was jointly owned by Barrick Gold and NovaGold, holding a 50% stake each. aAdsList.push('Article'); aAdsListSize.push([300, 250]); aAdsListCA.push(null); U.S.-listed shares of Barrick Gold were up 1.7% before the bell, which were also supported by higher prices of the bullion. Paulson and NovaGold will acquire 80% and 20%, respectively, of Barrick Gold's interest in the entity, for $1 billion in cash. The transaction is expected to close in the second quarter or early in the third quarter of 2025. NovaGold will also have an option to buy outstanding debt owed to Barrick for $90 million if purchased prior to closing, or $100 million if purchased within 18 months from deal closure. Barrick said it would use proceeds from the sale to strengthen its balance sheet and drive shareholder returns. Separately, NovaGold said the agreement with Barrick would increase its stake in the project to 60% while Paulson would hold the remaining 40%. NovaGold's U.S.-listed shares rose 6.8% premarket. The divestiture was first reported by Bloomberg News earlier in the day. (Reporting by Vallari Srivastava in Bengaluru; Editing by Shinjini Ganguli and Krishna Chandra Eluri)» Mehr auf marketscreener.com

Paulson Advisers will acquire a 40% ownership interest in Donlin Gold NOVAGOLD will increase its ownership interest in Donlin Gold from 50% to 60% Donlin Gold to be managed jointly by NOVAGOLD and Paulson to advance the project New partnership will shift focus immediately to updating the Feasibility Study 2025 exploration to pivot toward reserves and resources conversion and expansion All amounts are in U.S. dollars unless otherwise stated VANCOUVER, British Columbia, April 22, 2025 (GLOBE NEWSWIRE) -- NOVAGOLD RESOURCES INC. (“NOVAGOLD”) (NYSE American, TSX: NG) and Paulson Advisers LLC (“Paulson”) are pleased to announce that they have entered into a definitive agreement with Barrick Gold Corporation (“Barrick”) to acquire Barrick's 50% interest in Donlin Gold LLC for $1.0 billion in cash — creating a new partnership between NOVAGOLD and Paulson to develop the Donlin Gold project in Alaska.» Mehr auf globenewswire.com

Canada's Barrick Gold said on Tuesday it will exit the Donlin Gold Project in Alaska by selling its 50% stake to billionaire John Paulson and NovaGold Resources for up to $1.1 billion.» Mehr auf reuters.com