Novo Resources Corp T.NVO

Squandering money like going out of style

[oxinos]

I have never seen a company squander so much money in such a short time! In Q3 they squandered $8.2 million in exploration. Other juniors would get by with $1.0 million for a year. Novo was able to squander $23.6 million in 9 months, (to end of Q3). On top of that there was a writedown of $48.3 million for the Beaton's Creek project. How long will they go before they run out of cash?

[CliffBhooth]

This post has been removed in accordance with Community Policy

[PeterThomas]

They can issue 100M shares at 24 cents to raise enough cash for another 9 months.

[Sandiegobanned]

Well, looks like they have 36M in working capital. So that should tell you. I do agree that they need to slow it down or do something. This is one of those that could go BK or could go 10x., That is the problem with the jrs. Also, Beatons was always supposed to be the one that wasn't a big deal. I thought it was the other (i can't recall)... that was supposed to be the big one. I haven'