NovaGold jumps 10.3% on $4.2B all-share deal to buy remaining 40% of Donlin Gold

Published Jul 23, 12:58 AM UTC

NovaGold Resources Inc. (NYSEAmerican:NG) shares surged 10.3% to $6.21 on July 22, 2026, after announcing a definitive agreement to acquire Paulson Advisers LLC's entire 40% stake in the Donlin Gold project in Alaska for $4.2 billion in an all-share transaction. The deal gives NovaGold 100% ownership of Donlin Gold, projected to be the largest gold development project in the US with annual production of 1.3 million ounces in its first decade. As part of the transaction, a new company called NovaGold Corporation will be formed and list on the New York Stock Exchange, with current NG shareholders receiving shares on a 1:1 ratio. Paulson Advisers will own 40% of the joint venture. The board will be co-chaired by Thomas Kaplan and John Paulson. Institutional investor participation rose to 25 hedge funds in Q1 2026, up from 20 in Q4 2025.