Note 14 - Related Party Transactions |
6 Months Ended |
|---|---|
May 31, 2026 | |
| Notes to Financial Statements | |
| Related Party Transactions Disclosure [Text Block] |
NOTE 14 – RELATED PARTY TRANSACTIONS
The Company provided management and administrative services to Donlin Gold for $461 and $891 in the three and six months ended May 31, 2026, respectively ($156 and $332 in the three and six months ended May 31, 2025, respectively). As of May 31, 2026, the Company has accounts receivable from Donlin Gold of $267 (November 30, 2025: $1,044) included in Other current assets.
As consideration for providing a backstop commitment to the Company on April 22, 2025, NOVAGOLD issued Backstop Warrants (Note 9) to three institutional investors, one of which was Electrum Strategic Resources L.P. (“Electrum”). The Backstop Warrants had an estimated aggregate fair value at grant of $39,607. Electrum received 6,375,000 Backstop Warrants having a fair value of approximately $9,902. Dr. Thomas Kaplan, NOVAGOLD’s Chairman of the Board, is the Chairman and Chief Executive Officer of The Electrum Group LLC, an affiliate of Electrum. Electrum is the largest shareholder of NOVAGOLD.
Additionally, Electrum was one of two institutional investors who participated in the private placement component of the May 2025 Offering as described in Note 9. Electrum purchased 13,333,334 shares of NOVAGOLD in the May 2025 Offering for $50,000.
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