Should You Buy This Mid Cap Stock Now- NG

Acrobull UK Advisory Services LTD.

January 12			2026
Name	Ticker	Sector/Industry		Market Cap	Risk Factor
Nova Gold Resource Inc.	NG-NYSE	Gold & Mining		$4.102 Billion	Medium

NovaGold Resources Inc. is engaged in the exploration and development of gold mineral properties in the United States. Its primary asset is a 50% ownership interest in the Donlin Gold project, which comprises 493 mining claims covering approximately 29,008 hectares in the Kuskokwim and Mt. McKinley Recording Districts.

Recent Highlights

CEO Statement- As disclosed in the aforementioned filings, NOVAGOLD reported approximately $125 million in cash and term deposits as of August 31, 2025. During the third quarter, the Company recorded net cash expenditures of approximately $9 million, consisting of $8.1 million attributable to funding NOVAGOLD’s share of expenditures at the Donlin Gold project and $0.9 million related to corporate general and administrative expenses.

These figures exclude the consideration and transaction-related closing costs incurred in connection with increasing NOVAGOLD’s ownership interest in Donlin Gold LLC to 60%, as well as the proceeds generated from the exercise of the public offering overallotment option completed on June 5, 2025.

Third Quarter 2025 Highlights

Successfully completed a transformative $1 billion transaction on June 3, 2025, acquiring Barrick Mining Corporation’s 50% interest in Donlin Gold. As a result, NOVAGOLD increased its ownership in Donlin Gold LLC to 60% by purchasing an additional 10% interest for $200 million, while funds managed by Paulson Advisers LLC acquired the remaining 40% interest for $800 million.

Announced the full exercise of the underwriters’ option in its public offering on June 5, 2025, generating an additional $25.6 million at a price of $3.75 per share.

Bolstered its treasury to $125 million in cash and term deposits at the end of the third quarter, supported by $195.2 million in proceeds from an underwritten public offering and $64.4 million from a concurrent private placement. These funds were used to finance the $200 million payment to increase NOVAGOLD’s ownership in Donlin Gold LLC and for general corporate purposes.

Issued a Request for Proposals for the Donlin Gold Bankable Feasibility Study to leading, highly qualified engineering firms with the expertise to develop what is expected to be the largest single gold mine in the United States, with contract award and commencement of the study anticipated before year-end.

Stock Observation-NOVAGOLD completed the full exercise of the underwriters’ option, raising $26 million, bringing total public offering proceeds to approximately $195.2 million. Along with $64.4 million from a second-quarter private placement, the Company secured ~$260 million in net proceeds, funding its share of the acquisition and ending the third quarter with a strong treasury of ~$125 million in cash and term deposits to support the next stages of the Donlin Gold project.

Risk Involved- Financial performance of the company may have an impact on the company stock performance.

Considering all the factors and financials of the company Acrobull UK. maintains Customer Choose Buy for the stock.

Disclaimer- Though our research is fundamentally and technically based on Acrobull UK. only provides general advice on the stocks and it is imperative for the investors to do the risk assessment for themselves before investing as Acrobull UK. would not be liable for any loss or profit arising out through the investment made by the investors on our recommendations.

It is also advisable for the investors to consult with Financial Advisor, Broker or to seek any legal assistance as the research conducted by Acrobull UK. is factually based and recommendations are given in accordance with that, but it is imperative to understand that Acrobull UK. does not guarantee returns.

Acrobull Recommendation Based on Evaluation

Current Market Price	$10.08 USD
Acrobull Recommendation	Buy
Target Price	$11.58 USD
RSI Level	14 Day RSI 54
Total Shares Outstanding	371.28 million
Shares held by Insiders Shares Held By Institutional Investors Risk Factor Stop Loss	25.08% 68.28% Medium 5%