NovaGold Resources Inc. (NYSE:NG) is one of the 10 Best Precious Metal Stocks to Buy After the U.S. Venezuela Mission, with all five analysts rating it a Buy and a median price target of $12.50, representing a 24% upside as of January 9. NG shares have surged over 127% in the past six months.

On January 8, NovaGold Resources Inc. (NYSE:NG) announced that Donlin Gold LLC has signed a non-binding Letter of Intent (LOI) with Glenfarne Alaska LNG for a natural gas and power supply agreement for the Donlin Gold mine project in Southwest Alaska. NovaGold holds a 60% stake in Donlin Gold LLC.

Under the LOI, Glenfarne Alaska will supply up to 50 million cubic feet of natural gas per day for the Donlin Gold pipeline, powering the plant to provide electricity to the mine. NovaGold’s President and CEO, Greg Lang, highlighted the strategic advantages of using natural gas for the mine and the region.

NovaGold Resources Inc. (NYSE:NG) is actively working on its Bankable Feasibility Study for the Donlin Gold project, with primary state and federal permits secured for the pipeline route. The company anticipates selecting a contractor in the first half of 2026.

NovaGold Resources Inc. (NYSE:NG) is a key player in the gold mining industry, holding a significant stake in the Donlin Gold project. While NG shows promise, other AI stocks may offer greater upside potential and lower downside risk. For more insights, explore our report on the best short-term AI stock.

Read more at Yahoo Finance: NovaGold Resources’ Donlin Gold LLC Signs a Non-Binding Natural Gas LOI with Glenfarne Alaska LNG