Novo Resources Corp. reports on an Australian mineral exploration portfolio focused on gold and selected battery-metal opportunities. Recurring updates cover exploration results, drilling programs, target generation, and project reviews across the Pilbara and Onslow districts of Western Australia, the Egina Gold Camp, the Becher and Teichman areas, the Wyloo gold-silver-antimony project, Balla Balla, Toolunga, and the Belltopper Gold Project in Victoria.
Company news also includes portfolio additions such as the Tibooburra Gold Project in northwestern New South Wales, joint venture activity including a Pilbara lithium joint venture with SQM, capital and presentation updates, and exploration leadership changes. The coverage reflects Novo's role as a multi-project exploration issuer listed in Canada, Australia, and the U.S. OTC market.
Novo Resources Corp. (OTCQX: NSRPF) has announced an additional A$2.5M exploration budget to expedite drilling in the Mosquito Creek Basin, home to the Nullagine gold project and Golden Eagle processing facility. Over 25,000 meters of reverse circulation drilling is underway, with identified high-priority targets, including the Parnell-Vulture prospect. Recent mapping and sampling revealed strong gold grading up to 7.8 g/t Au. Historical data is being re-analyzed for further targets. The exploration aims to increase mill feed for the processing facility.
Novo Resources Corp. (OTCQX: NSRPF) announced an operational and exploration update for its Nullagine gold project in the Pilbara region of Western Australia. Senior management will host two webinars: the first on August 9 at 1pm PST, and the second on August 10 at 5:30am PST. Both events will provide insights into the company's activities and future plans. Participants are encouraged to submit questions to management via email. Novo is focused on developing its gold resources while exploring a 14,000 square kilometre land package in the region.
Novo Resources Corp. has appointed Mr. Michael Spreadborough as executive co-chairman, marking a significant leadership change. He transitions from an independent director role as Dr. Quinton Hennigh becomes non-executive co-chairman but remains involved in exploration efforts. Mr. Rob Humphryson continues as CEO, steering the company from exploration to production. The executive shift aims to enhance Novo's growth in the Pilbara region and improve operational excellence as it focuses on its flagship Beatons Creek gold project and innovative sorting technologies.
Novo Resources Corp. reported a record gold production of 8,589 ounces in July, marking a 46% increase from June. The company sold 7,899 ounces of gold, generating C$17.8 million in revenue, a 50% increase over the previous month. The company's cash balance reached C$49 million as of July month-end, a 6% growth since June. Novo's investment portfolio has a fair value of approximately C$170 million. The company continues to focus on exploration drilling and operational improvements at the Nullagine Gold Project.
Novo Resources Corp. reported a strong quarterly operational update for the Nullagine Gold Project in Western Australia. In June, the project achieved a record production of 5,898 oz Au, marking a 16.5% month-over-month increase. Revenue for June reached C$11.9 million, an 11.4% rise from May. The company maintained zero lost time injuries, while operational improvements led to positive cash flow. Cash reserves stood at C$46.3 million, complemented by a significant increase in investment value to approximately C$200 million.
On June 22, 2021, Novo Resources Corp. (OTCQX: NSRPF) held its annual general meeting where all proposed resolutions were passed unanimously. Director nominees, including Quinton Hennigh and Robert Humphryson, received overwhelming support, with votes for the top nominee exceeding 87 million. The company continues to focus on its Beatons Creek gold project and the expansive 14,000 square kilometers land package in Western Australia. More detailed voting results are available on Novo's profile at www.sedar.com.
Novo Resources Corp. (OTCQX: NSRPF) has announced its annual general meeting (AGM) scheduled for June 22, 2021, at 4:00 p.m. PDT, followed by an investor presentation at 4:30 p.m. PDT. Due to COVID-19, shareholders are advised to attend virtually and vote by proxy. Pre-registration is required for both virtual and in-person attendance. The company is progressing its Beatons Creek gold project while exploring additional opportunities in Western Australia. More details are available on Novo's official website.
Novo Resources Corp. announced the Toronto Stock Exchange's acceptance of 5,176,500 new common share purchase warrants, named the 2021 Warrants, effective June 14, 2021. These warrants are priced at C$3.00 and are exercisable until May 4, 2024. Novo Resources currently has 8,596,184 existing 2020 Warrants, which are priced at C$4.40 and expire on August 27, 2023. Both warrants are governed by separate indentures with Olympia Trust Company. The company is focused on its Beatons Creek gold project in Western Australia and exploring its sizable land package.
Novo Resources Corp. reported significant operational updates from its Beatons Creek gold project in Nullagine, Australia. In May 2021, the project achieved record gold production of 5,064 ounces, generating revenue of C$10.8 million. The cash balance reached C$45.2 million, excluding investments valued at approximately C$204 million. Safety metrics remain stellar with no lost time injuries. The processing plant is operating at an annualized rate of 1.5 mtpa with expected increases. The company is transitioning to a long-term drilling contract to enhance operational efficiency.
Novo Resources Corp. (OTCQX: NSRPF) has launched a A$12 million exploration program for 2021, focusing on enhancing the Nullagine Gold Project (NGP) and exploring other regional targets across Pilbara and Victoria, Australia. Key activities include reverse circulation drilling at Beatons Creek and testing mechanical sorting techniques to optimize gold recovery. The program aims to identify high-potential gold resources, with preliminary drill results indicating promising grades. The company is developing multiple conglomerate-hosted and basement-hosted gold targets, potentially expanding its gold resource base.