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Novo Resources Corp T.NVO

Alternate Symbol(s):  NSRPF

Novo Resources Corp. is engaged in evaluating, acquiring, exploring, and developing natural resource properties with a focus on gold. The Company explores and develops its prospective land package covering approximately 7,500 square kilometers in the Pilbara region of Western Australia, along with the 22 square kilometer Belltopper project in the Bendigo Tectonic Zone of Victoria, Australia. The Company operates through two segments: care & maintenance operations and exploration operations.


TSX:NVO - Post by User

Bullboard Posts
Post by wwadehammeron Nov 10, 2017 1:49pm
322 Views
Post# 26941374

Piper Paid

Piper PaidFrom bythefan on HotCopper who is not a believer in this story:

$500,000 
$1,000,000
25,000,000 shares worth $12,500,000 ish
8,000,000 shares worth $4,000,000 ish
Grand total: $18M
buys you 70% valuing the tenement package at $22,500,000 ish.

That's, just eyeballing it, about $1.5M per strike kilometre of the prospective contact. Plus they have a whoooole bunch of moose pasture to the north, but hey, I guess that's not too bad. 

The vendors, collectively, will end up with 5.8%. Individually, though it's not stated the roportions to which these shares will be split up by the Vendors or their nominees, they will come in below 5% and won't show up on a substantial shareholder notice and can just flog out and hold their free carry while resting in Mallorca sipping mai tais. So not bad for them.

I am astounded by the price, but hey, scrip is cheap when you are priced on ounces you haven't discovered and your shareholders are already putting in the bank.

I think he meant Majorca sipping mai tais - oops, my mistate it's Mallorca in Spanishl.
Bullboard Posts