Novo Resources Corp T.NVO

Alternate Symbol(s): NSRPF

Metals & Mining Gold

Novo Resources Corp. is a gold explorer focused on discovering gold projects. The Company is engaged primarily in the business of evaluating, acquiring, exploring, and developing natural resource properties with a focus on gold. It has a land package covering approximately 5,500 square kilometers in the Pilbara region of Western Australia, along with the 22 square kilometer Belltopper project in the Bendigo Tectonic Zone of Victoria, Australia. Its key project area is the Egina Gold Camp, where De Grey Mining is farming-in to form a JV at the Becher Project and surrounding tenements through exploration. The Company is also advancing gold exploration at Nunyerry North. It focuses on undertaking early-stage exploration across its Pilbara tenement portfolio. It has also formed a lithium joint venture with SQM Australia Pty Ltd (SQM) in the Pilbara, which provides shareholder exposure to battery metals. Its Belltopper Gold Project comprises the adjacent Malmsbury and Queens projects.

TSX:NVO - Post by User

Novo Resources Corp

Bullboard Posts

Comment by goldhunter11on May 08, 2018 9:37pm

185 Views

Post# 28001818

RE:RE:RE:RE:RE:RE:RE:ARV Halt

WisG,
Your recollection is correct, according to the link below.

https://novoresources.com/_resources/news/2017-08-15.pdf

The lock-in period is 12 months, hence the 4M shares cannot be sold before the 12 months (August 2018) unless NOVO agrees to change the condition (the customary lock-in period would be 4 months).
So, it must be some buyer that is influential enough for NOVO to waive the 12 month condition. It could be Newmont who wants to get back in the game? Anything above the current SP would bring over $20M cash to ARV treasury. DL is running low on cash?

Note: The trading halt announcement, link below
https://www.artemisresources.com.au/
talks about "finalising an agreement" to sell the 4M shares before the deadline. So, it looks like they would have the deal done before Friday 11 May 2018.
GH
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