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Newmont cashes in on Novo's rise

A Newmont Mining (US:NEM) subsidiary is cashing in on the rise of Canada-listed, Western Australian-focused gold explorer Novo Resources Corp (CN:NVO), selling the bulk of its Novo shares to make C$18.9 million (US$15.3 million).

Newmont cashes in on Novo's rise Newmont cashes in on Novo's rise Newmont cashes in on Novo's rise Newmont cashes in on Novo's rise Newmont cashes in on Novo's rise

Gold nuggets found over 4 days in August at Purdy's Reward

Newmont Canada FN Holdings announced last week it had sold about 11.8 million Novo shares for C$1.60 per share through a private placement, reducing its stake in Novo from about 14.9% to 5%.

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