Novo Resources Corp T.NVO

Jimbo

[BuccaneerBobbie]

I wonder how frustrated he will be when the pfs comes back a no go and they blame it on the consultants.

jimbowie Guess I’m just frustrated. When Novo announced that they wouldn’t need to go through a complete environmental review I assumed that the permitting process wouldn’t drag on from March 22, 2022 to December 15, 2023. From Novo’s June 14 NR below, I read that an updated Mineral Resource Estimate and Feasibility Study would be issued around October 15, 2022, which is a month away, and then the BoD would make a decision on whether or not to start mining the fresh ore. Maybe it takes the BoD a month to reach a decision. So at the latest, we should have a go or no go decision by the end of this year. So why does MS think it will take another 12 months after that to get permits and fire up the plant? We never hear what info MS is using to come up with these completion dates. Novo will spend around $1.5 million per month to keep the plant functional while it is shut down. We should be told why we have to spend so much money for so long just to get permits.




Bucco