Novo Resources Corp T.NVO

Alternate Symbol(s): NSRPF

Metals & Mining Gold

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

Novo Resources Corp

Bullboard Posts

Post by Skytronsmaon Nov 07, 2017 9:58pm

424 Views

Post# 26922568

Very objective concise summary by Rayz on HC

Kirkland Lake makes a deal with Newmont to buy a large chunck of Newmont’s holdings in Novo.
Newmont then tries to reneg on the deal but is forced to comply when Kirkland threatens with litigation.
Kirkland Lake takes down 100% of a private placement totalling $56 M at $4/share and claims they want to be in “early”.
Kirkland Lake’s investment in De Grey Mining is announced shortly after Novo’s video presentation.
Eric Sprott who is the largest shareholder of Kirkland and already the second largest shareholder in Novo (thus have a SIGNIFICANT stake in Novo already, both in terms of % as well as $) has bought large amounts of stock in the open market at around $6.30 just last week.
NO insider has thus far taken any profits EXCEPT a 2.5% reduction by Richmond Partners even thou first systematic “proof of concept” results should be coming within days, weeks or months. (Considering that probably much of management’s net worth is made up of Novo stock ATM, I am very surprised that they haven’t taken any profits at all).
Quinton supposedly owns about 4 million shares that are worth CAD$33.6 M at $8.40/share. Given his GAV is sub $0.60, I’m amazed that he hasn’t taken some money off the table already.
Jay Taylor’s personal RETIREMENT portfolio included a 30% stake in Novo prior to the run up based on Karratha (by far his largest holding).
Hearsay: Jay Taylor recently mentioned that Quinton SUPPOSEDLY responded with something along the lines”No, it’s better, it’s bigger” when asked if he thought he had find a new “Wits” (This is a judgement call based on ones perception of integrity/honesty and the fact that this whole theory is basically Quinton’s “baby”)…
In the same video, Jay stated that Novo now makes up 50% of his retirement portfolio…
Although Jay obviously has taken profits along the way (along with a lot of people), he has thus allegedly INCREASED his exposure to Novo in relative as well as absolute terms even thou market cap is way higher and perceived risk is higher according to many. (We have no way to confirm any of this of course).
Moriarty states that Novo is still his biggest holding even after making 600%+ gains (or thereabout.)
Final note: Most of the above parties have been on site.