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Novo Resources raises A$8.2M to boost gold drilling in Pilbara and Victoria projects

Company Fundamentals
28 May 2026
Proactive Investors - Finance
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Bullish
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Novo Resources Corp has completed the second tranche of an A$8.2 million placement, raising about C$1.93 million to accelerate drilling and exploration at its Pilbara and Victorian gold projects. The second tranche involved issuing units to Canadian and international investors, following a first tranche in March that raised A$6.2 million. Northern Star Resources remains the largest shareholder with nearly 9.87% ownership, and Novo has regained full control of the Egina gold project after Northern Star opted out of an earn-in agreement. The company plans an active 2026 exploration season targeting new discoveries and resource growth across its Australian assets.

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