Thomas Kaplan, chairman of NovaGold Resources, is advancing plans for the Donlin gold project in Alaska, positioning it as America's largest gold mine. The billionaire investor is simultaneously pursuing financing and conducting a feasibility study to determine the project's viability.

The Donlin gold project, a joint venture with Barrick Gold, represents one of the most significant untapped gold deposits in North America. Kaplan's push comes as gold prices have surged, making large-scale mining projects more economically attractive. The project's development would create substantial employment opportunities in Alaska while potentially reshaping the state's mining landscape.

Securing financing for such an ambitious undertaking remains challenging, particularly given current market volatility and rising capital costs. The feasibility study will be crucial in determining whether the project can proceed profitably. Kaplan's reputation for successful resource investments suggests he's carefully weighing the risks against potential rewards in this high-stakes venture.