Novo and Sumitomo Complete Earn-In Over Kangan Project at Egina With Essential Metals Limited
VANCOUVER, British Columbia, Dec. 16, 2020 (GLOBE NEWSWIRE) — Novo Resources Corp. ( “Novo” or the “Company” ) (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce that it has, in conjunction with Sumitomo Corporation of Tokyo, Japan, completed its earn-in obligations and earned a 70% interest in precious metals rights on Essential Metals Limited’s (formerly Pioneer Resources Limited) (“ Essential ”) (ASX: ESS) Kangan project. The Kangan project comprises a portion of the Company’s Egina project ( see figure 1 below ). Please see the Company’s news releases dated September 17, 2018 , and June 7, 2019 for further details.
“We are excited to continue progressing exploration efforts and align the parties’ strategic objectives to maximize the potential of the prospective Egina project,” commented Quinton Hennigh, Chairman and President of Novo. “We look forward to partnering with Sumitomo and our new joint venture partner, Essential, in order to advance the Kangan project and the broader Egina project.”
CLICK HERE to read the full news release.
Another great response in the stock. Holy cow!
Stop releasing “positive” news releases and MAYBE the stock will start to go up
A little….
Because Kirtland selling out its 12% ownership in Novo, it may be a long while before the stock improves its performance. Perhaps a year? Novo shares could be stuck in this range until it starts to produce gold in quantity. It may be dead money for 1-2 years or more? Perhaps that is why Kirtland decide to deploy its capital in more immediate projects… To me, the best factor is that Novo is in one of the safest jurisdictions. I am prepared to wait 5 years to see how Novo fares. Good luck to all Novo shares.
I meant, ( long suffering ) shareholders.
what are your comments re nulegacy after the recent dip in prices. The news release re the first 4 holes sounded positive . Am I missing something?