Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO) acting CEO Mike Spreadborough tells Proactive the company has entered a joint venture agreement with SQM (NYSE:SQM) Australia, the local subsidiary of global lithium producer Sociedad Química y Minera de Chile S.A., forming the Harding Battery Metals Joint Venture. As part of the agreement, Novo will sell a 75% interest in five of its prospective lithium and nickel exploration tenements in the West Pilbara to SQM for A$10 million. The agreement will further boost Novo’s cash reserves to continue its primary gold focus — as it works to define deposits with more than 1-million ounce development potential — while delivering shareholders potential upside exposure to battery metals exploration.
Novo Resources welcomes JV with lithium giant SQM
