Novo Receives A$11.5 Million Through Partial Sale of Marketable Securities
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Novo Resources has sold 38% of its shareholding in San Cristobal Mining for A$11.5 million, exceeding the internal fair value per share on its balance sheet.
December 04, 2024 | 2:30 pm
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Novo Resources sold 38% of its stake in San Cristobal Mining for A$11.5 million, which is above the internal fair value per share. This sale could positively impact Novo's financial position.
The sale of a significant portion of Novo's stake in San Cristobal Mining for an amount exceeding its internal valuation suggests a positive financial impact. This could improve Novo's liquidity and financial health, potentially leading to a positive short-term stock price movement.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80