Novo Resources - De Grey Mining JV Update With Sale To Northern Star, A$11.5 Cash Generated Through Sale Of Marketable Securities, Exploration Update
Mike Spreadborough, Executive Co-Chairman of Novo Resources (TSX: NVO - OTCQX: NSRPF - ASX:NVO) joins me to discuss the impact of Northern Star's A$5 billion acquisition of De Grey Mining on Novo's joint venture with De Grey, the Egina JV, the sale of securities to generate A$11.5million, and a broad exploration update.
To start Mike explains how the De Grey transaction, expected to close by May next year, could positively influence the JV. I also ask about any changes or potential delays in exploration plans at the Egina JV.
We then discuss the sale of a portion of Novo’s holdings in San Cristobal Mining (private company), generating A$11.5 million. This sale increases the company's cash reserves to over A$16 million. Mike outlines how the funds will be allocated.
Looking ahead, Mike outlines exploration strategies for the upcoming year, emphasizing aggressive drilling and data analysis to identify major priorities.
Please email me with any follow up questions for Mike and the team at Novo Resources. My email address is Fleck@kereport.com.
