RE:RE:THH on kereport
Redflame wrote: It's time for an assessment of how Novo is doing. After the deal with Kirkland Lake in Mid 2017 Novo had around $75 million in cash. Since that time, Novo has received $35 million in additional cash from warrants and option exercises, and Canadian Goverment credits for investments. A grand total of $110 million. A staggering amount for a junior miner with less than 500,000 ounces of indicated resources. Lastest is there's less than $30 million in the kitty. $80 million spent in less than 3 years with no drilling occurring. Hennigh in his last interview said a production decision on Beaton's Creek should be made within the next 2 months. That doesn't sound like the negotiations for the Millenium Minerals mill is going according to plan. One wonders what will happen if Novo can't negotiate a deal with the multi-billion dollar company? I note that the Novo Board of Directors approved Kirkland Lake to exceed 20% ownership of Novo by exercising its warrants for $84 million. I guess so, another 3 years of funding with no strings attached. Gotta love Kirkland Lake. Rolling in dough and needing to find the next big thing to stay a major. Of course, Kirkland Lake could just pass on its warrants thinking that it will be another 10 years before Novo is actually in production. If so, one could see another cash raise by Novo before the end of the year. Wonder what discount Novo would have to give to raise more funds?
Preamb, not wolfie.
TTT