https://www.miningweekly.com
Exploration|Gold|PROJECT|Resources
Exploration|Gold|PROJECT|Resources
exploration|gold|project|resources

Novo buys Artemis’ licences, dissolves JV

12th March 2020

By: Creamer Media Reporter

     

Font size: - +

Canadian explorer Novo Resources, which started a gold rush in Western Australia, has announced plans to consolidate its mineral property holdings in the Karratha region by buying licences from its joint venture (JV) partner, Artemis Resources.

The company will be acquiring a 100% interest in exploration licences E47/1745 (Purdy’s Reward) and E47/3443 (47K). The remaining Novo-Artemis JVs will be dissolved.

As consideration for the Transaction, Novo will issue two-million common shares and pay A$1-million in cash for the Purdy’s Reward and 47K tenures. Novo will also grant a 1% net smelter returns royalty over the 47K project to one of Artemis’ 47K JV partners.

“This consolidation allows Novo to advance its Karratha gold project at its discretion and in tandem with our holistic Pilbara conglomerate gold strategy. It has been a pleasure to work with Artemis over the past few years, and we wish them well with their future endeavours,” said Novo chairperson and president Dr Quinton Hennigh.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 
Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.276 0.308s - 91pq - 2rq
Subscribe Now