Novagold Res | 8-K: FY2025 Q2 EPS: USD -0.15

EPS: As of FY2025 Q2, the actual value is USD -0.15.

Cash and Term Deposits

• As of May 31, 2025, NovaGold Resources Inc. held approximately $319 million in cash and term deposits, an increase from $92,969 as of February 28, 2025, and $112,568 as of May 31, 2024.

Net Income

• The company reported a net loss of $54,275 for the second quarter of 2025, primarily due to a non-cash, non-recurring charge of $39,607 related to warrants issued under a backstop commitment agreement.

Cash Flow

• Cash used in operating activities increased by $433 in the second quarter of 2025 compared to the prior year period.

Capital Resources

• Cash equivalents increased by $259,767 in the second quarter of 2025, primarily due to $243,839 in proceeds from a public equity offering and concurrent private placement, net of $9,734 of transaction and issuance costs.

Outlook

• NovaGold Resources Inc. expects its share of funding for the Donlin Gold project to be higher than the previously issued 2025 guidance of $21.5 million due to the increased ownership stake and ongoing feasibility study updates. The company also anticipates higher corporate general and administrative cash expenditures than the previous guidance of $16.0 million in fiscal 2025, due to legal and transaction costs related to the Donlin Gold Transaction. NovaGold plans to provide an update on the 2025 projected spending on or prior to the release of the Company’s third quarter results.