Novagold falls after equity financing boosted to $300 mln

NovaGold Resources

23/01/2026 15:46

** U.S.-listed shares of Novagold Resources NG.A down 3% at $10.18 early Fri after equity financing boosted to $300 mln

** Canadian precious metals firm says bookrunners BMO, RBC and Scotiabank agreed to increase previously announced bought deal private placement to 30 mln shares at $10.00

** After the bell Thurs, co announced a $200 mln offering, including a $140 mln cornerstone order from a European institution

** NG plans to use net offering proceeds for expenditures associated with Donlin Gold project located in Alaska, settlement of its prepayment option on promissory note with Barrick Mining ABX.TO, and general corporate purposes

** U.S.-listed shares, which closed at $10.49 on Thurs, have more than tripled over the past year

** This as precious metals prices, including gold XAU=, extend their record-setting rally GOL/

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))