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Novo Resources Corp T.NVO

Alternate Symbol(s):  NSRPF

Novo Resources Corp. is a gold explorer focused on discovering gold projects. The Company is engaged primarily in the business of evaluating, acquiring, exploring, and developing natural resource properties with a focus on gold. It has a land package covering approximately 5,500 square kilometers in the Pilbara region of Western Australia, along with the 22 square kilometer Belltopper project in the Bendigo Tectonic Zone of Victoria, Australia. Its key project area is the Egina Gold Camp, where De Grey Mining is farming-in to form a JV at the Becher Project and surrounding tenements through exploration. The Company is also advancing gold exploration at Nunyerry North. It focuses on undertaking early-stage exploration across its Pilbara tenement portfolio. It has also formed a lithium joint venture with SQM Australia Pty Ltd (SQM) in the Pilbara, which provides shareholder exposure to battery metals. Its Belltopper Gold Project comprises the adjacent Malmsbury and Queens projects.


TSX:NVO - Post by User

Bullboard Posts
Post by sharkzon Jul 11, 2007 7:11am
379 Views
Post# 13068557

Nothing will happen

Nothing will happenThis is a boring but successful company but nothing will change with next quarters results, or the quarters after that. Very consistent earnings in the half million net income range ( yr) mean EPS of about 1.6 cents a share for the forseeable future. At hefty 20 x's PE 30 cents would be considered fair value, although some might argue with 6-7 % revenue growth the stock price should be much lower. Regardless the stock price will continue to meander slowly lower over the next several quarters. The most likely scenario will be eventually NUVO will be bought out by one of it's competitors or current clients. Remember, a good company does not necessarily make a good stock.
Bullboard Posts