Seeking Alpha·Jun 26, 2026
NovaGold: Maybe The Best Gold Leverage Of Mines Under Development (Rating Upgrade)NovaGold Resources was downgraded to Sell after a +200% rally between February and October 2025. The nearly -60% share price decline from March has convinced me to upgrade to Buy. Through share issuance, NG now has enough cash to repay a promissory note to Barrick, while fully funding exploration drilling and a bankable feasibility study from Fluor into next summer. Upside leverage to gold at $6 per NG share is far different than $10 or $14 for new investors.
