Novo Resources Seeks to Sell Or Find Partner for Western Australia Projects, Shares Rise 3%

MT Newswires Live

2025/02/06

Novo Resources (ASX:NVO) will seek interested parties to acquire or form a joint venture in relation to the Comet Well gold project and Purdy's North gold-copper-nickel project in Western Australia, according to a Thursday Australian bourse filing.

It reported a cash balance of AU$12.1 million and investments of around AU$43.8 million as of Dec. 31, 2024.

It is developing drilling programs to test the high-priority conceptual shallow and deeper targets at its projects and it plans to conduct a maiden air core drilling program at the Balla Balla gold project, also in Western Australia, in the first half of 2025.

The firm's shares rose 3% in recent trading on Thursday.

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