SHARPE
Reported results
- Net loss of $36.0 million (GAAP) for Q3 2026
- Loss per share of $0.08 (GAAP) for Q3 2026
- Cash and term deposits of $343.4 million as of August 31, 2026
- Net third quarter operational cash expenditures of $28.1 million, comprising $24.8 million for NOVAGOLD’s share of Donlin Gold project and $3.3 million in corporate general and administrative costs
- Fiscal 2026 operating expenditure guidance increased to approximately $110.0 million, with corporate general and administrative costs of approximately $31.2 million (excluding share-based compensation) and Donlin Gold funding guidance of approximately $78.8 million
Guidance
- Fiscal 2026 operating expenditures: approximately $110.0 million
- Fiscal 2026 corporate general and administrative costs: approximately $31.2 million (excluding share-based compensation)
- Fiscal 2026 Donlin Gold funding: approximately $78.8 million (60% share of project expenditures)
- Donlin Gold Bankable Feasibility Study targeted for completion in 2027
- Transactions expected to close by year-end 2026 (subject to shareholder approval, court approval, regulatory and stock exchange approvals)
Notes
NOVAGOLD is a development-stage company with no production. The company announced on July 21, 2026 definitive agreements to acquire Paulson’s 40% interest in Donlin Gold, increasing ownership from 60% to 100%. The $11.5 million increase in fiscal 2026 operating expenditure guidance includes $7.7 million in additional legal and professional fees through Q3 and $3.8 million anticipated in Q4 related to the pending transactions.
Price and volatility reaction
The stock moved +0.5% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -4.8 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 6.36 | 2026-10-07 |
| Close after release | 6.39 | 2026-10-08 |
| Realised move | +0.5% | close to close |
| 30d ATM IV change | -4.8 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-10-08 (8-K, Item 2.02). Read the original filing on sec.gov.