PRECIOUS METALS

Novo set for drilling start

Novo Resources’ rollercoaster share price ride of the past month is likely to continue as it starts deploying funds from its bulging treasury at a rate of up to A$2 million a month on the search for a Witwatersrand-style gold in Western Australia’s Pilbara region. “The money that we’ve raised gives us the latitude to go ahead and tackle this thing in a very aggressive way,” president Quinton Hennigh said on a Mining Agenda podcast.