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Novo Resources Corp. (ASX:NVO)

ALERT: Price-sensitive ASX Announcement for NVO
Current share price for NVO : $0.060 -0.095 (-61.29%)+
Announcement
Release
29 Oct 2025 8:20AM
Price at Release
$0.155
Full Release
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Summary
In the third quarter of 2025, Novo Resources Corp. focused on its exploration and development activities in the Pilbara region of Western Australia, with significant efforts on high-grade gold and gold-antimony projects. The company completed a maiden reverse circulation drill program at Sherlock Crossing and undertook reconnaissance field mapping at Southeast Wyloo. Financially, Novo reported a decrease in cash and short-term investments to $2.418 million as of September 30, 2025, noting a net loss of $4.52 million for the quarter. The company successfully closed the sale of SCM shares, generating gross proceeds of $8.9 million. Novo continued to manage its financial and exploration activities amid challenges, including a reduction in general administrative costs and exploration expenditures compared to the previous year.
Key Points
  • No significant safety, environment, or community incidents were recorded during Q3 2025.
  • Maiden RC drill program completed at Sherlock Crossing in the Pilbara, Western Australia.
  • Cash and short-term investments decreased to $2.418 million as of September 30, 2025.
  • Net loss of $4.52 million reported for Q3 2025.
  • Successful sale of SCM shares for gross proceeds of $8.9 million.
  • Reduced general administrative costs and exploration expenditures compared to 2024.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.