@AUinvestor (for you Arsehole) From @AUinvestor:@AUinvestor @ehbear "coming alive today. DEG up 14%" Yes, Novo's sister, De Grey Mining, is doing much better today being rewarded in its part helping to substantiate QH's Pilbara Wits-2 theory. And yet people remain in denial. What happened to the detractors when the few were buying the dip back in Feb 2020?! The mob of course disappeared when they were proven wrong and heard from no more.
As money seeks safe haven assets into Gold, companies that have proven Gold reserves appreciate in price. And as the market cap of the company grows larger, stock index managers eventually catch a clue and eventually add them to their index. In this case, De Grey is to be included on March 22 in the S&P/ASX 200 Index.
The significance is that when companies get added to an index with a broader exposure to investor funds, more and more index fund managers that track the ASX 200 must buy De Grey's shares to reflect the index. With broader, deeper exposure, more hedge funds managers become attracted and are now permitted to buy shares of De Grey listed on the ASX 200.
The market horde that hated De Grey at 3¢ suddenly loves it at 90¢. Glad we bought the dip in early 2020... congrats to several in this group that did - you know who you are!
To connect the dots to Novo Resources... (yes, stocks are speculative, full of uncertainty as is life), however in my opinion, you win more often than you lose when the odds are stacked in your favor. Among its vast land tenements in the Pilbara, Novo Resources has the ground from NE Egina down to the SE and West that extends from the expanding Hemi deposit. Kairos is also in that neighborhood (full disclosure, I also bought Kairos for a long-term spec play around that same time as De Grey in early 2020).
De Grey's success to date adds to the potential for QH's Wits-2 theory playing out for Novo. After accelerating its exploration programs last year, Novo announced their plan for 25,000+ meters of drilling this year along their high-grade reefs in Egina. The area has a history of very promising Gold mineralization targets: