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Novo signs interesting gold JV with Sumitomo

Novo Resources has attracted Sumitomo Corp to explore its Egina gold project near Port Hedland in Western Australia with an unusual-looking joint venture that ultimately sees the Japanese company able to earn a 40% stake by spending up to US$30 million over three years.

Novo signs interesting gold JV with Sumitomo Novo signs interesting gold JV with Sumitomo Novo signs interesting gold JV with Sumitomo Novo signs interesting gold JV with Sumitomo Novo signs interesting gold JV with Sumitomo

Sumitomo in JV with Novo Resources in Pilbara, Western Australia

Sumitomo must spend a "minimum of $5 million per phase defined by a program and budget".

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