RE:RE:RE:QH: "Put it through the mill." 11:15Redflame wrote: Gosh, ore sorters and mills are all the rage now based on the posts of various Novo boards. Through dedicated hard work and scheming Novo has managed to keep it's share price well below $6 by never once doing ore sorting in the field. Now I see Novo has ordered a sorter to conduct field tests and it will be delievered to Karratha around the end of October. Gee, well after the Kirkland Lake warrants expire. Can't make it too obvious I guess. Had Novo demonstrated that the sorter concept actually works in the field, given the vast amount of terrace gravels and conglomerates, the share price would probably now be somewhere north of $10. In addition, Novo has managed to reduce Kirkland's ownership % by a couple of points by acquiring land and stock in other companies. Yes Tx, Kirkland is a gorilla that's hungry and not to happy with Novo at the moment declining to appoint anyone to the Novo Board of Directors. I guess when the vote is 5 to 1 against you why bother. How could Kirkland be happy when Novo has done everything it can to prevent the warrant exercise and a "friendly" takeover. I don't buy the premise that Novo and Kirkland are getting along swell but that's just MO.
I guess the plan for mining the terrace and maybe Beaton's Creek is this: continuous miners pile up the gravels, loaders scoop it up and load it on crushers and screeners located nearby. Where the screened material will go then is beyond me as the operation is out in the middle of nowhere. Loaders then transport the remaining gravels to the ore sorters located nearby. Loaders will take the waste rock and tranported it back to where it was dug up. Simple operation but there needs to be a lot of ore sorters given the sorters' tonnage speed and the grade of the gravels. There's probably $20 million left in the Sumitomo JV kitty and it should be enough to get Novo mining on a small scale at Egina.
Every major on the planet will be looking at the results of field tests. If the sorters are demonstrated to work and Novo continues to find valleys that contain economic grades, that will be the time that interested major's will make a bid for Novo and any other company that has a large amount of terrace gravels. De Grey and Kairos Minerals come to mind. Without knowing how much land containing gravels and conglomerates are economical overall will put the major's at great risk in a $2 to $5 billion takeout attempt. Notice Novo has not conducted any drilling or given any estimates of economical land areas or announced any big new discoveries like Comet Wells although it's geologist have been out in the field for 3 years.
Yes Tx, Novo has walked a fine line with all this and the test will come around the end of this year when someone offers $10 to $20 a share. WWESKLD? Only a few months of possible short time left and with the mill still up in the air I might not take your advice.
A well designed retort to the high priest of NOVO and to those who refuse to see and adhere to that silver tongued snake and his views of this POS company. The thought of my KL putting more cash into this dung heap of a company brings my stomach's contents to my mouth. If KL puts one more cent into this ...., that'll be the day I sell every share that I have in that company!