Canadian Mining Journal

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Are the clouds parting for junior miners?

Junior miner Novo Resources (CSE: NVO) checks all the boxes: It’s led by a well known, connected and respected geologist; it has several prospective gold projects (one of which has an inferred resource) in the low risk jurisdiction of...



Junior miner Novo Resources (CSE: NVO) checks all the boxes: It’s led by a well known, connected and respected geologist; it has several prospective gold projects (one of which has an inferred resource) in the low risk jurisdiction of Australia; it has a tight share structure and supportive shareholders (including Newmont Mining [NYSE: NEM], which bought a 35.7% stake in the junior last year); and it has managed to deliver both positive news and an increasing share price over the past three tumultuous years.

But the next time Novo needs its next infusion of cash, company president and CEO Quinton Hennigh won’t be looking to the equity market.

“I’m looking at alternative means,” he said in late April. “I can’t speak too much about it at the moment, but we have two opportunities that could actually bring money into the treasury without having to raise equity.”

The company won’t need to raise cash until 2015 …

Read the complete story at MiningMarkets.ca/news/are-the-clouds-parting.


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