Novo Resources & Argonaut
Novo Resources Corp. raises A$7.5M as part of a successful and oversubscribed dual listing on the ASX.
Argonaut acted as Financial Adviser and Lead Manager to the Initial Public Offering of Novo Resources Corp. (ASX: NVO, TSX: NVO, & NVO.WT.A) (OTCQX: NSRPF).
Novo is a leading Western Australian gold explorer which owns a 10,500km2 Pilbara exploration portfolio as well as the Belltopper Gold Project in Victoria. The Company has a well-defined growth strategy seeking to identify and define deposits with material development potential.
In June 2023, De Grey Mining agreed to invest up to A$25 million on exploration at the Company’s Becher project and adjacent tenements within 4 years, to earn a 50% interest and form the Egina JV. De Grey is managing all exploration efforts at Becher and is set to commence drilling this month with a planned program of 39,000m of aircore, RC and diamond drilling.
The Initial Public Offering received strong support from local institutional and sophisticated investors.
Argonaut is delighted to support Novo and looks forward to Novo’s ongoing success.
Additional information regarding Novo Resources can be found on the Company’s website at:
Novo Resources – $7.5m Initial Public Offering – September 2023