“Both Novo and Calidus see strong benefits to this transaction,” commented Quinton Hennigh, Chairman and President of Novo. “Calidus plans to develop a sulfide circuit at Warrawoona that is capable of treating Blue Spec style mineralization and also have plans to develop underground operations that can complement development of the Blue Spec project. With its recent acquisition of Millennium Minerals, Novo is moving its Beatons Creek project toward production. Cash from this sale will allow Novo to aggressively pursue exploration at Beatons Creek as well as test the Company’s numerous other near-surface gold targets in the region, part of Novo’s vision for growth in the Nullagine camp.”
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