Novo Resources stock falls 6.67 percent as drilling plans expand

Published on 09/29/2026 at 10:28 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Novo Resources stock traded at CAD 0.07 on September 28, 2026, after 152,000 shares changed hands. Belltopper targets 460,000 to 880,000 ounces.

NVO, CA6529281069, Illustration mit AI erstellt.

Novo Resources stock (ISIN CA6529281069) was trading at CAD 0.07 on the TSX on September 28, 2026, down 6.67 percent from the prior close of CAD 0.075. On September 21, 2026, GlobeNewswire reported that the Australian explorer had released an updated presentation covering exploration progress and near-term project catalysts.

Drilling targets set the agenda

On September 23, 2026, Investing.com reported that Novo outlined work across gold, copper and antimony projects in Western Australia, New South Wales and Victoria. The company expects drilling activity at several projects through late 2026 and into Q1 2027, leaving execution and discovery results as the central variables for the small-cap investment case.

Belltopper carries the largest target

Belltopper in Victoria is the flagship project, with an exploration target of 460,000 to 880,000 ounces at 6.7 to 8.9 grams per tonne, according to Investing.com. The same presentation cited an 87,000-ounce Eleven Star resource and more than 12,000 meters of diamond drilling completed over three years, giving investors a defined resource alongside the larger exploration target.

The upper end of the Belltopper target corresponds to 3 million tons, while four processing plants sit within 60 kilometers of the project, according to Investing.com. Novo plans to return to Belltopper drilling in Q1 2027, making the project a measurable test of whether exploration targets can progress toward resources.

TSX quote stays under pressure

The September 28, 2026, TSX session saw 152,000 shares traded, with the CAD 0.07 price representing a 6.67 percent decline from CAD 0.075. Novo Resources had a market capitalization of CAD 29.0 million on that date, a valuation that leaves exploration results and balance-sheet deployment highly consequential for the share price.

TSX price sits at CAD 0.07

Novo Resources was last at CAD 0.07 on the TSX on September 28, 2026, at 3:59 p.m. ET. The company combines a defined 87,000-ounce Belltopper resource with a larger 460,000 to 880,000-ounce exploration target, but future value depends on drilling, permitting and resource conversion.