Happy Wednesday!
Pour the double-double, because today NOVAGOLD just bought out its gold mine's other half, and Saudi Arabia can't get crude out of the ground fast enough to keep up with a war that keeps rerouting tankers.
Wednesday's tape: NOVAGOLD is consolidating 100% of Donlin Gold in a US$4.2 billion, Paulson-backed deal that would create America's largest gold mine.
Saudi crude exports just sank to a record low as the Iran war grinds into its sixth month, and gold is punching back over $4,100 on the safe haven bid.
Plus, New Found Gold keeps hammering high-grade out of Newfoundland, and ARC Resources loses a crown it has held since 2021.
📊 Commodity Ape Quick Stats
🥇 Gold (spot): $4,135/oz 📈
🥈 Silver (spot): $59.39/oz 📈
🔌 Copper: $6.44/lb 📉
☢️ Uranium (U₃O₈ spot): $85.74/lb 📈
🛢️ WTI Crude: $83.93/bbl 📈
🔥 Natural Gas (Henry Hub): $2.86/MMBtu 📈
🍁 TSX-V Composite: 873.07 📈
💵 U.S. Dollar (DXY): 101.12 📉
Gold and silver are both up on safe haven demand, oil is climbing on a tighter Saudi supply picture, and the TSX-V just booked one of its best sessions in weeks.
⛏️ The Motherlode: NOVAGOLD Buys Out Its Partner to Own All of America's Biggest Gold Mine
What happened. NOVAGOLD ($NG.TSX ( ▲ 9.32% )) signed definitive agreements to acquire Paulson's remaining 40% of Donlin Gold LLC, taking its ownership from 60% to 100% in an all-share deal.
A new US-domiciled parent, NovaGold Corporation, would list on the NYSE with roughly a US$4.2 billion equity value, current NOVAGOLD holders owning about 65% and Paulson about 35% (voting capped at 19.99%).
John Paulson and Dr. Thomas Kaplan will co-chair the new company, with a close targeted for Q4 2026.
Why it happened. Donlin Gold, in Alaska, holds roughly 40 million ounces measured and indicated at 2.22 g/t, more than double the global industry average grade for million-ounce deposits, and is projected to produce 1.3 million ounces a year in its first decade over a 27-year mine life.
Consolidating full ownership streamlines decision-making and financing access, including sovereign capital, ahead of a bankable feasibility study.
What it means for your position. A single owner, US redomicile story could re-rate NOVAGOLD as a pure-play American gold developer, especially with spot near $4,135.
Watch the share-for-share dilution math and the Q4 shareholder vote before you chase the pop.
⚙️ Drill Bit Tech & Trends: A Non-Dilutive Facility for Sorting Ore Before It Hits the Mill
Talisker Resources ($TSKFF ( ▲ 6.94% )) is financing the hardware behind its processing strategy at the Bralorne Gold Project in southern BC, without touching its mineral claims to do it.