Northwire Canada EditionMonday, July 13, 2026
Northwire
S 0.160 +3.2% OMI 0.315 +0.0% BMM 4.02 +5.8% CGD 0.630 +10.5% OCG 0.275 −1.8% CAMB 0.990 −1.0% HMR 0.600 −3.2% GOFL 0.025 +0.0% SIG 1.01 −1.9% SGQ 0.300 +0.0% AMCO 0.220 −12.0% TRS 0.055 +0.0% RRI 0.265 +0.0% GAL 0.390 −2.5% LIB 0.800 −12.1% SMY 0.290 +23.4% S 0.160 +3.2% OMI 0.315 +0.0% BMM 4.02 +5.8% CGD 0.630 +10.5% OCG 0.275 −1.8% CAMB 0.990 −1.0% HMR 0.600 −3.2% GOFL 0.025 +0.0% SIG 1.01 −1.9% SGQ 0.300 +0.0% AMCO 0.220 −12.0% TRS 0.055 +0.0% RRI 0.265 +0.0% GAL 0.390 −2.5% LIB 0.800 −12.1% SMY 0.290 +23.4%
M&A / Property Routine −

Egina Gold Project Update

Northern Star Exit Signals Egina JV Stalemate as Novo Pivot to Independent Pilbara Drilling

Executive Summary
  • Northern Star Resources (NST) has officially withdrawn from its earn-in agreement for the Egina Gold Project, preventing the joint venture formation.
  • Novo Resources retains all exploration data collected by Northern Star during their activities on the project.
  • Novo completed a 2,628m RC drilling program at the Wyloo SE Prospect and is awaiting assay results.
  • Novo plans to commence independent exploration activities within the Egina Gold Project tenements in the second half of 2026.
  • Shareholder status changes: IMC Resources holding fell below 5% (no longer substantial holder); Northern Star Resources holding fell below 10% (no longer significant shareholder/reporting insider).
  • Executive Co-Chairman Mike Spreadborough stated data retention allows for a fresh assessment of Egina as an outstanding asset.
Material Impact
  • The withdrawal of Northern Star is a specific negative event for the Egina Gold Project valuation, removing a major gold explorer partner and potential capital injection.
  • However, Novo retains all exploration data, mitigating total loss of intellectual property on the tenement.
  • The company maintains sufficient liquidity with A$11 million cash plus an investment portfolio valued at approximately A$21 million as of March 31, 2026.
  • Stock price has already declined significantly from $0.28 in January to $0.08 currently, suggesting the market may have priced in JV risks or financing dilution prior to this announcement.
  • The news confirms a shift back to independent exploration rather than partnership reliance, which is consistent with previous management commentary about advancing assets independently if partners do not meet spend requirements.
  • Overall impact is negative for Egina project sentiment but does not threaten company solvency given the diversified portfolio (Belltopper, Wyloo, Tibooburra) and strong cash position.
NVO · Price
Company Overview
  • Novo Resources Corp. is a gold exploration company with projects in Western Australia (Pilbara), Victoria, and New South Wales.
  • Flagship Project: Belltopper Gold Project (Victoria) - Updated 2026 Exploration Target of 2.1 Mt to 3.1 Mt at 6.7 g/t to 8.9 g/t Au.
  • Other Key Projects: Egina Gold Camp (WA), Wyloo Antimony Project (WA), Tibooburra Gold Project (NSW).
  • Management: Mike Spreadborough serves as Executive Co-Chairman and Acting CEO; Rohan Williams commenced as General Manager Exploration in April 2026.
Read the original news release →

More from Novo Resources Corp.