Novagold Resources Inc (NYSE:NG) Q2 2020 Earnings Conference Call - Final Transcript

Jun 25, 2020 • 11:00 am ET


Novagold Resources Inc (NYSE:NG) Q2 2020 Earnings Conference Call - Final Transcript


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Thank you for standing by. This is the conference operator. Welcome to the NOVAGOLD Second Quarter Financial Results Conference Call. As a reminder, all participants are in a listen-only mode and the conference is being recorded. After the presentation, there'll be an opportunity to ask questions. [Operator Instructions]

I would now like to turn the conference over to Melanie Hennessey, Vice President, Corporate Communications. Please go ahead.

Melanie Hennessey

Thank you, Gillie, and good morning everyone. We are pleased that you've joined us for NOVAGOLD's 2020 second quarter financial results and for an update on the Donlin Gold project. On today's call, we have Dr. Thomas Kaplan, NOVAGOLD's Chairman; Greg Lang, NOVAGOLD's President and CEO; and David Ottewell, NOVAGOLD's Vice President and CFO. At the end of the webcast, we will take questions both by phone and by text.

I would like to remind our webcast and call participants that as stated on Slide 3, any statements made today may contain forward-looking information such as projections and goals, which are likely to involve risks detailed in our various EDGAR and SEDAR filings and forward-looking disclaimers included in this presentation.

With that, I have the pleasure of introducing Greg Lang. Greg?

Gregory A. Lang

Thank you, Melanie, and good morning everyone. Before I provide an overview of the second quarter results, I wanted to address the ongoing pandemic. In order to minimize the risk posed by COVID-19, NOVAGOLD is maintaining a wide-ranging set of policies at its offices in Salt Lake City, Vancouver, and in conjunction with Barrick at the Donlin Gold office in Anchorage as well as implementing an enhanced safety plan at the project site. All of this is designed to ensure the safety and well-being of all personnel.

NOVAGOLD's most important objective right now is the health and safety of its employees, partners, and contractors. To that end, as shown on Slide 4, the Company has put in place measures to protect its personnel both in an office setting and in the field. Donlin Gold is regularly conducting safety meetings to address hygiene and sanitation practices. We request all in place to monitor their health and consult with health professionals if feeling any symptoms. We are committed to providing an environment, which all of our people make it home safe and healthy every day.

Slide 5 highlights the steady progress in the first half of the year for NOVAGOLD's operational activities even with the temporary pause in the drill program during the first quarter. The year started strong with the receipt of state permits followed by preparation of the drill program and mobilization of drill rigs to the site in early March, all before temporarily pausing activities as a precautionary measure as a result of COVID-19. The drill program we mobilized in late May, and we currently have four rigs operating. The multi-year site investigation that commenced in mid-2019 as part of the project's dam safety certification has been paused due to the prioritization of the ongoing drilling. It's not on the critical path