Sale of Nullagine Gold Project to Calidus Resources
2023年12月20日 - 11:38PM
Novo Resources Corp. (
Novo or the
Company) (ASX: NVO) (TSX: NVO & NVO.WT.A)
(OTCQX: NSRPF) is pleased to announce that it has completed the
sale of its Nullagine Gold Project (
NGP) to
Calidus Resources (ASX: CAI). This follows the conclusion of the
strategic review of the NGP outlined in the Company’s August 2023
ASX IPO prospectus. The sale occurred pursuant to:
- a share sale
agreement under which Calidus agreed to acquire all issued shares
in Millennium Minerals Pty Ltd (Millennium); and
- an asset sale
agreement under which Calidus agreed to acquire additional
tenements and assets in the broader Mosquito Creek Basin (from Novo
subsidiaries Beatons Creek Gold Pty Ltd, Nullagine Gold Pty Ltd and
Rocklea Gold Pty Ltd).
Both agreements were inter-conditional and
collectively provided for the acquisition of the NGP by
Calidus.
As consideration for the sale, Novo has received
A$250,000 in Calidus Shares. Novo also has a right to receive a
further A$5 million (as deferred consideration) upon the reaching
of a production milestone of 100,000 ounces by Calidus with respect
to the NGP assets within a 10-year period.
Calidus has assumed all obligations, royalties,
claims and liabilities relating to the NGP. This includes the
existing rehabilitation liability (of approximately A$45
million).
IMC HOLDINGS – DEFERRED CONSIDERATION DEED
At the time of acquiring Millennium, Novo
entered into a deferred consideration deed with IMC Holdings (the
main shareholder of Millennium). Under the terms of that deed, Novo
was required to pay deferred consideration, in certain
circumstances, up to a total amount of A$20 million. As part of the
sale of NGP (and given that Novo will no longer be able to satisfy
any obligation to make payment from any gold produced by
Millennium), Novo has renegotiated the terms of the deferred
consideration deed with IMC Holdings.
Under the revised arrangements, Novo has agreed
to pay a balance of a A$15.6 million to IMC Holdings by December
2026, with a mechanism for reductions for early payments by
Novo.
RELINQUISHMENT OF TENURE
The Company’s ongoing exploration program across
key Pilbara areas has been successful in identifying targets for
exploration follow-up in 2024, along with identifying land tenure
that provides no further exploration value or follow-up.
As a result, a planned relinquishment program
has been initiated to reduce land tenure holding costs. The
combined relinquishment program, transfer of some tenure in
accordance with the Harding Battery Minerals JV, and the divestment
of NGP has reduced the Pilbara tenure area held or managed by the
Company to an estimated ~7.500 sq km.
CONTACT
Investors:Mike Spreadborough +61 8 6400 6100
mike.spreadborough@novoresources.com |
North American Queries:Leo Karabelas+1 416 543
3120leo@novoresources.com |
Media:Cameron Gilenko+61 466 984
953cgilenko@citadelmagnus.com |
|
On Behalf of the Board of
Directors:
Novo Resources Corp.
“Michael Spreadborough”Michael
SpreadboroughExecutive Co-Chairman and Acting CEO
ABOUT NOVO
Novo explores and develops its prospective land
package covering approximately 7,500 square kilometres in the
Pilbara region of Western Australia, along with the 22 square
kilometre Belltopper project in the Bendigo Tectonic Zone of
Victoria, Australia. In addition to the Company’s primary focus,
Novo seeks to leverage its internal geological expertise to deliver
value-accretive opportunities to its shareholders.
Novo Resources (TSX:NVO.WT)
過去 株価チャート
から 4 2024 まで 5 2024
Novo Resources (TSX:NVO.WT)
過去 株価チャート
から 5 2023 まで 5 2024