Investment Portfolio
Novo’s balance sheet is supplemented by a A$46.2 million (C$42.3 million) investment portfolio of shares in ASX-listed and unlisted companies across the resources and technology sectors:
| Ticker | Number of shares held | Novo interest | Value A$’000 | Value C$’000 | |
|---|---|---|---|---|---|
| ASX-listed shares* | |||||
| Kalamazoo Resources Limited | ASX: KZR | 10,000,000 | 5.35% | $780 | $727 |
| GBM Resources Limited | ASX: GBZ | 11,363,637 | 0.98% | $102 | $95 |
| Calidus Resources Limited | ASX: CAI | 1,347,089 | 0.17% | – | – |
| Kali Metals Limited (commenced trading January 8, 2024) | ASX: KM1 | 566,947 | 0.39% | $73 | $69 |
| Unlisted shares** | |||||
| Elementum 3D Inc. | Unlisted (US$) | 2,076,560 | 9.01% | $20,484 | $19,117 |
| San Cristobel Mining Inc. | Unlisted (US$) | 2,000,000 | 3.85% | $23,142 | $21,598 |
*ASX-listed shares were converted to C$ using an exchange rate of 1.0715 : 1. Note” Calidus Resources entered voluntary administration on 1 July 2024.
**The valuation of the unlisted shares is in line with management’s valuation as at 30 September 2024, converted using an exchange rate as at 30 September 2024 from US$ to C$ of 1 : 1.3499 and C$ to A$ of 1 : 1.0715 and taking into account the methodologies described in the Company’s 2023 annual consolidated financial statements (2023 Annual Financial Statements).
As outlined in the 2023 Annual Financial Statements , shares held in Elementum 3D and San Cristobal Mining are initially recognised at fair value (and remeasured with reference to share prices at which funds are raised with third-party investors) or were based on independent valuations performed. For further information on Novo’s investment portfolio, please refer to Novo’s website.
