Investment Portfolio
Novo has an investment portfolio of shares held in ASX-listed companies and unlisted companies that is valued at A$39.3 million (C$34.8 million), as follows:
- ASX-listed companies, valued at a A$1.4 million (C$1.2 million) based on the closing price of those shares on ASX on 25 March 2024; and
- Unlisted companies, valued at A$37.9 million (C$33.6 million).
| Ticker | Number of shares held | Novo interest | Value A$’000 | Value C$’000 | |
|---|---|---|---|---|---|
| ASX-listed shares* | |||||
| Kalamazoo Resources Limited | ASX: KZR | 10,000,000 | 5.78% | $870 | $771 |
| GBM Resources Limited | ASX: GBZ | 11,363,637 | 1.55% | $102 | $91 |
| Calidus Resources Limited | ASX: CAI | 1,347,089 | 0.22% | $162 | $143 |
| Kali Metals Limited (commenced trading January 8, 2024) | ASX: KM1 | 566,947 | 0.39% | $238 | $211 |
| Unlisted shares** | |||||
| Elementum 3D Inc. | Unlisted (US$) | 2,076,560 | 9.01% | $21,572 | $19,112 |
| San Cristobel Mining Inc. | Unlisted (US$) | 2,000,000 | 4.32% | $16,387 | $14,519 |
*ASX-listed shares were converted to C$ using an exchange rate of 1.1287 : 1.
**The valuation of the unlisted shares is in line with management’s valuation as at 31 December 2023, converted using an exchange rate as at 25 March 2024 from US$ to C$ of 1 : 1.3494 and C$ to A$ of 1 : 1.1287 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[i], 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.
