NovaGold, Paulson Advisers complete $1B deal for Barrick's 50% stake in Donlin Gold

June 04, 2025 08:26 AM AEST | By EODHD

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NovaGold, Paulson Advisers complete $1B deal for Barrick's 50% stake in Donlin Gold — Image source: Kalkine Media

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[Underground train in mine, carts in gold, silver and copper mine.] TomasSereda/iStock via Getty Images NovaGold Resources (NYSE:NG [https://seekingalpha.com/symbol/NG]) and Paulson Advisers said Tuesday they successfully closed [https://seekingalpha.com/pr/20125527-novagold-and-paulson-advisers-complete-1-billion-acquisition-of-barrick-minings-50-percent] their previously disclosed acquisition of Barrick Mining's (B [https://seekingalpha.com/symbol/B]) 50% interest in the Donlin Gold project in Alaska, establishing new ownership to advance the project. At closing, NovaGold (NYSE:NG [https://seekingalpha.com/symbol/NG]) acquired an additional 10% in Donlin Gold for $200M, raising its stake to 60%, while Paulson acquired a 40% interest in the project for $800M, and the two companies entered into a new limited liability company agreement governing Donlin Gold with equal governance rights. The companies said they will complete a strategic review of Donlin Gold's total $43M budget for 2025 while commencing the workstream to update the feasibility study, including assembling a specially dedicated team to advance the efforts; executing the 2025 drill program focused on the conversion and expansion of reserves and resources, with both partners committed to exploring for new resources along strike and to depth in future campaigns; and advancing the technical work and engineering designs. MORE ON NOVAGOLD RESOURCES * NovaGold Resources Q1 2025 Earnings Call Transcript [https://seekingalpha.com/article/4772356-novagold-resources-inc-ng-q1-2025-earnings-call-transcript] * NovaGold Resources: Outlook Lifted On Rising Gold Prices, U.S. Drilling Boost And Cooling Rates [https://seekingalpha.com/article/4757181-novagold-resources-outlook-lifted-on-rising-gold-prices-us-drilling-boost-and-cooling-rates] * Exploration Stocks Like NovaGold Are Overdue To Spike Higher [https://seekingalpha.com/article/4756927-exploration-stocks-like-novagold-are-overdue-to-spike-higher]

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