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Novo Resources Corp. (ASX:NVO)

ALERT: Price-sensitive ASX Announcement for NVO
Current share price for NVO : $0.063 -0.015 (-19.23%)+
Announcement
Release
27 May 2026 8:22AM
Price at Release
$0.078
Full Release
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Summary
Novo Resources Corp. has announced an update on its Egina Gold Project. The company will resume control over the exploration activities at the Egina Gold Project following Northern Star's withdrawal from the earn-in and joint venture agreement. Northern Star had previously met an initial expenditure requirement but chose not to proceed with the additional spending needed to acquire a 50% interest. As a result, the Egina Joint Venture will not be formed. Novo plans to use the exploration data gathered by Northern Star and continue exploration in the second half of 2026. The Egina Gold Project is located in a strategically significant position within the Mallina Basin, near Northern Star's Hemi Gold project. Novo remains committed to its exploration program and aims to advance the Egina Gold Project as part of its rich portfolio of potential projects.
Key Points
  • Northern Star withdraws from Egina Joint Venture.
  • Novo to receive all exploration data from Northern Star.
  • Egina Gold Project is strategically located within the Mallina Basin.
  • Novo plans to advance exploration in the second half of 2026.
  • The project includes prospects like Becher and other high-priority areas.
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.