Subject to Toronto Stock Exchange (TSX) approval, Liatam Mining Pty Ltd has agreed to invest a further A$1.8 million to obtain 9 million shares at A$0.20 per share in Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO).
This will increase Liatam’s shareholding from around 3% to around 6% and means Liatam has exceeded the required spend of A$1.75 million to form the 80%:20% Quartz Hill Joint Venture with Novo in the Mosquito Creek Basin in East Pilbara, Western Australia.
The investment, along with the recent A$10 million transaction with SQM Australia in the Harding Battery Metals JV in the West Pilbara, puts Novo in a strong financial position to continue its aggressive exploration focus across key gold targets in the Pilbara and Victoria in 2024.
Earlier this week, the company’s shares soared on entering the JV agreement with SQM, the local subsidiary of global lithium producer Sociedad Química y Minera de Chile…
