VANCOUVER — Novo Resources Corp. announced the appointment of Eric Sprott to the company’s board of directors Nov. 1.
Sprott is a leader in the investment community and a gold and silver investor. After earning his designation as a chartered accountant, Sprott entered the investment industry as a research analyst at Merrill Lynch & Company Inc. In 1981, he founded Sprott Securities (now Cormark Securities Inc.), which today is one of Canada’s largest independently owned institutional brokerage firms.
After establishing Sprott Asset Management LP in December 2001 as a separate entity, Sprott divested his entire ownership of Sprott Securities to its employees. Sprott recently resigned from his position as the lead portfolio manager at Sprott Asset Management. He is the chair of the board of Kirkland Lake Gold Ltd.
The private company, Sprott Mining Inc., owns Jerritt Canyon Gold LLC in the Independence Mountains about 50 miles north of Elko.
“We are absolutely thrilled to have Mr. Sprott join our board at this time,” said Dr. Quinton Hennigh, chairman and president of Novo Resources Corp. “Mr. Sprott has been a long-standing supporter of Novo, and we look forward to working closely with him in order to realize Novo’s full potential.”
Sprott Mining President and CEO Greg Gibson also serves on Novo’s board, a position he has held for several months.
Novo stated that its focus is to explore and develop gold projects in the Pilbara region of Western Australia and build up a land package covering approximately 3,860 square miles. Novo also controls a 100 percent interest of just under 1 square mile in the Tuscarora district, where the company is reviewing its options.