HurricaneRick and Ore Sorting While we all have that WTF knot in our collective stomachs as the share price drops to ridiculous levels, I think it helps to remember just why we all invested here in the first place. For me that is ore sorting. I'm optimistically anxious to get the ore sorting results from Novo's Phase 2 bulk sampling program. That's the core of the company's future and why I invested in Novo. Everything else is gravy.
So I went back and listened to the Kereport interview from December 21, 2021 with Quentin and Mike to get a feel for just how imminent the results are and to gauge the company's level of confidence in the results. I tend to circle back and revisit my due diligence during times of maximum financial pain to make sure the reasons I invested are still intact. Shareholders tend to forget all the reasons they invested and all of the positives that are staring us in the face while the share price craters.
With that in mind, I've transcribed some of Quentin's and Mike's comments from that interview from just 5 short weeks ago. You can judge for yourself about the imminence of the bulk sample results and how optimistic they are about those results:
"We've taken bulk samples from Egina down to Nullagine. Those are going through the sorter. We're doing that test work and preparation and anticipation that we'll be able to use sorting out at the Egina gravels. And that work's going to be very valuable. That's work that's ongoing, but it's nearly done. We'll have results early next year. I'll say the bulk of these samples have gone through." - QH
"We do have very high confidence from the bulk sampling that we did in 2018 and even some more recent work like these bulk samples that we've dug up and putting through the sorter over at Nullagine. We have very high confidence that these conglomerate beds deliver gold." - QH
"We're very optimistic with the results we've seen so far out of the sorters that that will be achievable. That we can produce a high grade concentrate from crushing and sorting the conglomerate mineralization out of Karatha, out of Comet Well and
Purdy's Reward." - QH
"The ore sorter that we purchased from Steinhart is now at Nullagine. It's all been put together and we are running through those samples from 9 different deposits around the Pilbara. Egina is one of those. We're doing some more testwork from Beaton's Creek. We're doing some more test work from Comet Well and Purdy's, Talga Talga, all of those and their bulk samples we're putting through that facility. As Quentin said, we should see the results of those in late January, early February." - MS