NOVAGOLD Shareholders Approve Transaction to Consolidate 100% Ownership of Donlin Gold
NOVAGOLD shareholders overwhelmingly approved the previously announced arrangement under which New NOVAGOLD will become the ultimate parent and acquire Paulson's 40% stake in Donlin Gold, raising NOVAGOLD's ownership from 60% to 100%. The Arrangement Resolution passed with 99.72% of votes cast in favor (302,610,350 shares for vs. 380,548 against), with 69.15% of outstanding shares represented at the November 3 meeting. Completion remains conditioned on regulatory, stock exchange and court approvals, with the company targeting a close in Q4 2026.
Key figures
- Deal Value Usd
- 0
- Expected close
- Q4 2026
- Arrangement votes for
- 302610350
- Donlin resource grade
- 2.22 grams per tonne average
- Donlin ownership after
- 100%
- Pct shares represented
- 69.15%
- Donlin gold resource oz
- approximately 40 million ounces Measured and Indicated (100% basis)
- Donlin ownership before
- 60%
- Arrangement votes against
- 380548
- Arrangement votes for pct
- 99.72%
- Donlin expected production
- more than one million ounces per year over a 27-year mine life
- Arrangement votes against pct
- 0.13%
- Shares represented at meeting
- 303446751
AI analysis
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