In this company update, we sit down with Mike Spreadborough, Executive Co-Chairman, and Quinton Hennigh, Non-Executive Co-Chairman of Novo Resources Corp (TSX: NVO | ASX: NVO | OTCQX: NSRPF). to discuss the recent news out of the company. The team provides a deep dive into their recent C$5.8 million equity raise, the performance of their investment in San Cristobal Mining (SCM), and an ambitious drilling schedule set to kick off in Q2 2026.
Discussion Highlights:
- Strategic Equity Financing: Mike outlines the details of the C$5.8 million raise, explaining how the funds will be deployed to accelerate exploration programs across the Pilbara and Belltopper projects.
- San Cristobal Mining (SCM) Value: The team discusses Novo’s strategic stake in SCM, a private silver producer. Quinton explains the decision to hold the shares due to strong silver prices and consistent dividend yields, which help offset corporate overhead.
- Q2 Pilbara Drill Plans: A breakdown of the upcoming 12-week program starting in April, targeting high-priority sites including Wylloo (gold-silver-antimony), Balla Balla, and the maiden drilling at Teichman.
- Belltopper Project Potential: Quinton highlights the “Fosterville-style” characteristics of the Belltopper project in Victoria. With a target modeling 880,000 ounces of gold (upside case), the company is preparing for a major diamond and RC program later this year.
- Egina JV Update: Insight into the partnership with Northern Star (ASX: NST), including expectations for a resource update at the Hemi gold project and the broader strategy for the Egina Joint Venture.
Please email me with any follow up questions for Mike, Quinton, and the team at Novo Resources. My email address is Fleck@kereport.com.
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