Novo Resources Corp T.NVO

THANKS WISEGUY - SUMMARY OF JAYANT'S COMMENTS

[mrbubba]

For those who don't have a lot of time to listen to Jayant's interview published today, following is my version of what he said (editorial from me in [ ]):

Jayant sold Novo when the stock price went to Cad$8.40, because even though he saw value in the company it was not quite that high - at the time. He thought people were being irrational investing at that level just because they were hearing the Sprott name and Kirkland Lake.

Jayant says he recently spoke to QH.

He has recently began to accumulate, because of what he perceives to be too much negativity surrounding Novo, eminating from KL selling, tax loss selling, and then also downward pressure starting tomorrow (December 29) coming from the latest financing becoming free-trading. He actually expects a fall in price tomorrow.

On value, he sees Beaton's Creek (BC) as itself justifying the current Novo price (at which he is buying), without even considering Karatha and Egina which he regards as "free upside". He cites about 800,000 oz of NEAR SURFACE [not a good hair day for DocCopper] ounces coming from Millenium Mills itself which will keep the Mill busy for 7-8 years at capacity. He says a new report needs to be prepared and pubished BY NOVO for some reason, probably regulatory. To that, presumably one would add  the approx. 903,000 ounces Novo already had at BC [not a good hair day for Taylor Dart?].   From BC, Jayant predicts about $150 Million per year in NET profit (after payment of expenses). He also sees whatever RISKS there were before as having now been minimized (e.g. approval for the tailings will now be more of  a ministerial task). 

On Sprott/KL, Jayant says we need to keep in mind that their investment objective are different from ours. For example, he says a guy like Sprott is happy to make a minimal profit, thereby being more conservative and preserving his existing wealth [I imagine it can be an embarassment for a wealthy guy to screw up his investments, make sense]. People like us, on the other hand, are more apt to want to maximize our return and hold on for more growth. 

Jayant also touched on the fact that QH did a "fantastic job" of assisting KL in finding that big deposit [he did NOT say QH "discovered it - in fact, I recall QH saying himself he gave them the advice that they ought to drill a little deeper from what he could see - so I think QH helped, but it was a joint effort]. 

All in all, Jayant is accumulating because he likes the value that BC presents at current prices - and looks forward to production and the potential effect of Karatha and Egina. 

[waitingstill]

Yes, that was my take on the interview as well. Thanks for putting it out there.

[TXRogers]

That is essentially what Jay said.  But I don't agree with it all because it contains inconsistencies based on my observations. Leave alone his assessment of valuation, because we know that is all a personal opinion which can be justified by any intelligent conversationalist.  And he justifies his position well. The glaring inconsistency is Jay's assessment of ES's

[waitingstill]

Spot on TX. I was surprised by Jayant's comments about ES investing style as it is pretty obvious I - big bets across a broad swathe banking that a few multi-baggers will drown out the losers. That is an investing style most of us can not afford. One time I did a relative ratio of investment based on ES net worth of just over $1billion compared to someone with $1mil. It is pretty obvious. A

[TXRogers]

Remember who was in charge when this all happened - see link. https://stockhouse.com/companies/bullboard?symbol=v.nvo&postid=31383910 But he's now retired and playing Riverboat Gambler.  A well deserved retirement. We now sit back to see how QH repeats things with Lady Jane Novo. That's the play.  That's our gamble. Tx

[DocCoppr]

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[DocCoppr]

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[TXRogers]

Both you and I know Doc.  The bull$hit is nearing it's end. Novo has to, and is going to deliver.  For the ones that have been critical and sat on the sidelines, that's fine.  Absolutely nothing wrong with changing horses as this story morphs from one state to another. The argument of significant opportunity costs of holding  Novo has been valid.  But it has

[DocCoppr]

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