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Novo Resources Corp. (NSRPF)

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1.8100-0.3100 (-14.62%)
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Neutralpattern detected
Previous Close2.1200
Open1.9400
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range1.7700 - 1.9400
52 Week Range1.0000 - 3.3000
Volume1,044,704
Avg. Volume181,711
Market Cap396.725M
Beta (5Y Monthly)1.48
PE Ratio (TTM)N/A
EPS (TTM)-0.0930
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Novo Provides Update on Partial Sale of Blue Spec Project
    GlobeNewswire

    Novo Provides Update on Partial Sale of Blue Spec Project

    VANCOUVER, British Columbia, Nov. 25, 2020 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX-V: NVO & NVO.WT; OTCQX: NSRPF) is providing an update on the previously announced sale (the “Transaction”) of a portion of its Blue Spec project comprising mining leases 46/115 and 46/244 and related mining information (the “Subject Blue Spec Tenements”) in Western Australia to ASX-listed Calidus Resources Limited (“Calidus”) (please see the Company’s news release dated September 21, 2020 for further details). The Company has executed an amended terms sheet (the “Amended Terms Sheet”) and agreed to a revised transaction structure and payment schedule with Calidus as follows: * Calidus will pay A$2.5 million to the Company by November 30, 2020 in exchange for a 10% interest in the Subject Blue Spec Tenements; * Calidus has the right to acquire an additional 10% interest in the Subject Blue Spec Tenements by paying the Company an additional A$2.5 million (the “Second Payment”) by January 31, 2021; * At Calidus’ sole discretion, Calidus can increase the Second Payment to A$5 million in exchange for an additional 15% interest in the Subject Blue Spec Tenements (the “Second Bonus Payment”) (for an aggregate 25% interest); * In order to acquire the remaining interest in the Subject Blue Spec Tenements, Calidus must pay the Company the remaining A$11.8 million or A$14.3 million (either being the “Remaining Payment”) of the total agreed purchase price of A$19.5 million by March 31, 2021; * If Calidus exercises its right to make the Second Bonus Payment, A$1.5 million of the Remaining Payment of A$11.8 million can be satisfied by the issuance of ordinary shares of Calidus at a 15-day trailing volume weighted average price prior to the date of issuance, subject to Calidus shareholder approval; * If Calidus does not make the Second Bonus Payment, the Remaining Payment must be made in cash for the full A$14.3 million; and * If Calidus fails to complete the Transaction in full by March 31, 2021, Novo will have an 18-month option to repurchase any residual interest in the Subject Blue Spec Tenements held by Calidus for 50% of the aggregate consideration paid by Calidus for that interest. Calidus paid a non-refundable A$200,000 deposit to the Company on September 22, 2020.The Transaction is still subject to the satisfaction of certain conditions precedent including the execution of various deeds of assignment between the Company, Calidus, and relevant third parties, and customary regulatory approvals for transactions of this nature.“Novo looks forward to completing the Transaction with Calidus,” commented Dr. Quinton Hennigh, Chairman and President of Novo. “Novo’s team is currently focused on moving its Beatons Creek project toward production. As mentioned previously, cash from the Transaction will allow Novo to aggressively pursue exploration at Beatons Creek, as well as test the Company’s numerous other near-surface gold targets in the region, part of Novo’s vision for growth in the Nullagine camp.”About Novo Resources Corp.Novo is advancing its flagship Beatons Creek gold project to production while exploring and developing its highly prospective land package covering approximately 14,000 square kilometres in the Pilbara region of Western Australia. In addition to the Company’s primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its shareholders. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.comOn Behalf of the Board of Directors,Novo Resources Corp. “Quinton Hennigh”Quinton Hennigh President and ChairmanNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Forward-looking information Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, the satisfaction of certain conditions precedent to the Transaction and the intended use of the proceeds from the Transaction. Forward-looking statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.

  • Novo Reports Scheduling of Annual General Meeting
    GlobeNewswire

    Novo Reports Scheduling of Annual General Meeting

    VANCOUVER, British Columbia, Nov. 19, 2020 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX-V: NVO & NVO.WT; OTCQX: NSRPF) reports that its annual general meeting (the “Meeting”) has been scheduled for December 17, 2020 at 4 pm PST. The Company is pleased to announce that its board of directors (the “Board”) has proposed that the size of the Board be increased to six directors and has invited Mr. Ross Hamilton of Perth, Western Australia to stand for election to the Board at the Meeting. Mr. Hamilton has over 20 years of international experience in sustainability, environmental stewardship, climate change, community engagement, indigenous affairs and stakeholder relations within the mining, metals and large infrastructure sectors. Mr. Hamilton is the founder and director of an environmental, social and corporate governance focused advisory firm and serves as an expert advisor to the International Finance Corporation and the UN Global Compact. He previously served as a Director at the International Council on Mining and Metals based in London, UK, and in several leadership roles at BHP in Western Australia. Mr. Hamilton holds a Bachelor of Science (First Class Honours) degree from Monash University and a Master’s degree in Sustainability Management from Curtin University.Due to the ongoing health risk related to the COVID-19 pandemic and continuing government restrictions on public gatherings in support of social distancing, the Company strongly recommends that shareholders cast their votes by proxy in advance of the Meeting and not attend the Meeting in person. Despite this, any registered shareholder wishing to attend the Meeting must contact Diane Barley at dbarley@owenbird.com in advance so that they may be informed of applicable safety protocols. Please see the Company’s notice of meeting and information circular, as filed under the Company’s profile at www.sedar.com, and on the Company’s website at www.novoresources.com, for further details of the Meeting.Recognizing the important opportunity that an annual meeting provides shareholders to both hear from, and communicate with, management, a presentation and virtual question and answer period will be organized, details of which will be announced in the near futureShareholders with any questions are encouraged to contact Leo Karabelas at leo@novoresources.com or +1-416-543-3120.About Novo Resources Corp.Novo is advancing its flagship Beatons Creek gold project to production while exploring and developing its highly prospective land package covering approximately 14,000 square kilometres in the Pilbara region of Western Australia. In addition to the Company’s primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its shareholders. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.comOn Behalf of the Board of Directors,Novo Resources Corp. “Quinton Hennigh”Quinton Hennigh President and ChairmanNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

  • Novo Provides Operational Update From Beatons Creek
    GlobeNewswire

    Novo Provides Operational Update From Beatons Creek

    VANCOUVER, British Columbia, Nov. 18, 2020 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX-V: NVO & NVO.WT; OTCQX: NSRPF) is pleased to provide a further operational update from its Beatons Creek gold project (“Beatons Creek”) and Nullagine processing facility (“Golden Eagle Mill”). Development at Beatons Creek and refurbishment at the Golden Eagle Mill continue to make excellent progress, on schedule and within budget. Recent key milestones achieved include: * Golden Eagle Mill refurbishment proceeding on schedule; * Mining contractor selected; * Ongoing grade control drilling; and * Site personnel (including contractors) now totaling 77.Please see the Company’s news release dated October 15, 2020 for the Company’s previous operational update.Mining contractor selected: * Iron Mine Contracting Pty Ltd (“IMCPL”) have been awarded ‘preferred contractor’ status for the surface mining contract. Mobilization planning is well underway. Mobilization of mining equipment to site is due to commence in December 2020. * IMCPL was selected after demonstrating strong key attributes, including: ○ intent to work collaboratively with Novo to optimize mining equipment, methods and costs, ○ cultural alignment with the Company’s approach to safety, personnel management and Aboriginal engagement.Development activities at Beatons Creek:Grade control program: * Grade control reverse circulation drilling is progressing well with high density (10m x 10m drill hole spacing and 0.5m sample interval). * Drilling was initially completed across an area of haul road excavation essential to providing initial haulage access. * Currently, drilling is being undertaken in some of the first areas to soon be excavated and stockpiled (see Figure 1 below). * Sample dispatches are frequently being transported to MinAnalytical for gold PhotonAssay.Civil works: * Construction of laydown pads for the major contractors has commenced. It is important to note that this, and haulage road construction, are the only significant pre-development items remaining ahead of progressing works at Beatons Creek. Refurbishment works on the Golden Eagle Mill:Plant refurbishment: * Works continue on the Golden Eagle Mill maintenance and upgrades. Offsite key componentry refurbishment including screens, cyclone underpan, pumps and other minor items continues in accordance with schedule. * Work in the leach tanks and launders continues to plan, with water blasting, sandblasting, tank repair and baffle replacement being completed as required. Painting is now well underway with the application of high quality paint which is expected to significantly extend the life of the tanks.Civil works: * The civil works contractor has mobilized to site to pour foundations for the upgraded Acacia reactor unit and for the major contractor’s workshop, in addition to remedying damaged tank bunding (see Figure 2, Figure 3, Figure 4, and Figure 5 below). The GR Engineering Services (“GRES”) scope currently stands at approximately 35% complete, with works continuing on schedule and within budget with no material issues or problems encountered thus far.Long lead items have all been ordered and arrival dates remain within the refurbishment schedule.Progress on other major tenders: * Submissions for the Nullagine camp management services have been received and are being assessed ahead of awarding the contract by the end of November 2020. * The surface haulage contract package is now out for tender, in addition to numerous other commercial agreements for fuel supply, processing reagents, assay laboratory services and flights.Novo CEO and director Rob Humphryson commented, “We are delighted to welcome IMCPL as Novo’s preferred primary mining contractor at the Nullagine Gold Project. IMCPL made a strong impression upon Novo management with their culturally aligned approach to safety, personnel management and most importantly their commitment to meaningful Aboriginal engagement. IMCPL has clearly articulated an intent to work collaboratively with Novo to optimize mining equipment, methods and costs as evidenced by mobilization of a predominantly new fleet to underpin high levels of productivity and reliability. We look forward to a long and productive relationship with IMCPL. GRES and subcontractors continue to perform an outstanding job with all works continuing safely and to plan.”Dr. Quinton Hennigh (P.Geo.) is the qualified person pursuant to NI 43-101 responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is President, Chairman, and a director of Novo.About Novo Resources Corp.Novo is advancing its flagship Beatons Creek gold project to production while exploring and developing its highly prospective land package covering approximately 14,000 square kilometres in the Pilbara region of Western Australia. In addition to the Company’s primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its shareholders. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.comOn Behalf of the Board of Directors,Novo Resources Corp. “Quinton Hennigh” Quinton Hennigh President and ChairmanNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Forward-looking information Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, the successful completion of development and plant refurbishments works on time and on budget, that Novo’s board of directors will make the decision to commence production at Beatons Creek. Forward-looking statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, the successful completion of site establishment works at Beatons Creek, the successful completion of grade control drilling works, MinAnalytical’s ability to assay the Company’s drill samples in a timely and cost-effective manner, the successful completion of mining, camp management, fuel supply, processing reagents, assay laboratory services, flights, and haulage services contracts, and customary risks of the resource industry.PDFs accompanying this announcement are available at:http://ml.globenewswire.com/Resource/Download/dc77c8cc-cfd3-4063-99bf-dee7d9528f6fhttp://ml.globenewswire.com/Resource/Download/2ce244e2-6b77-44c2-bb3d-4eda3385b963http://ml.globenewswire.com/Resource/Download/e0824cfe-d906-4d65-b455-1a8ff0c3fbbahttp://ml.globenewswire.com/Resource/Download/7eb3d11b-5c16-47f4-aa49-8de7732745f6http://ml.globenewswire.com/Resource/Download/909e7e1d-88c3-4643-ae02-8272e34f5fd5