Novo Resources Corp. (OTCPK:NSRP.F) is looking for acquisition opportunities. The company says it is well-funded for ongoing exploration activities and is keeping an eye out for possible future acquisition opportunities sitting on a strong cash balance of $17.4 million.

It also has an existing investment portfolio it values at more than $39 million, in several ASX-listed and unlisted companies. With most of its investment funds in two unlisted companies, Novo says it plans to realise the funds within the next 18 months via a share-sale agreement, with the resulting cash providing real impetus to any planned exploration programs, or potentially a value-adding acquisition.