Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

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
Comment by goldhunter11on Dec 25, 2017 12:18pm
800 Views
Post# 27225260

RE:More Bob Moriarty on Novo & Merry Christmas all

RE:More Bob Moriarty on Novo & Merry Christmas allAimH,
Yup, it's quite a big difference between surface mining and deep down at 15,000 feet. It's way too hot down there (55 deg C) and it could take 1 hour to get miners the surface. From 2003 to 2015 the Tau Tona mine, SA, has production drops to 1/3 (from 600,000 ozAu @12gpt, to 200,000 ozAu @ 8gpt) while production cost was up by a factor of 5 (from $170 to 900 per oz).

With the conglomerate near surface, Moriaty and Barron were talking less than $100/oz (never mind US or Cdn, or Aus) with simple portable  equipment such as rock crusher, screener, sluice boxes...Alright throw in a more expensive Steinert sorter! Total cost is still below $10M to get going with a quarry type operation. I would urge QH to go for at least 10x the current size. Instead of some 500kg (0.5 tonne) sample scoop up something like 5 tonnes, or even better, make it 10 tonnes, since he has 20,000 tonne sample permit to chew up, 20,000/10 = 2000 loads. It will take some time (several months) to get all this processed, but even at 15 gpt that would translate into 300,000 oz Au x 1000/oz profit = $300M (50% = $150M, not shabby at all). This is only a small part of Purdy (area of 100m x 80m), depth ~1m. My math OK so far? 

One nagging question: I have been searching hi and lo for the location of the site where they had the first sample (the one that shows 87gpt and 46 gpt), but so far I have not found it. Can you or someone provide me with some pointer?

Would this be near Trench 7 (along the strike and near the boundary between Purdy's and Comet Well) or at the NE end  Trech 1,2,3...8? Reference  Figure 1 of 2 November 2017 NR. Figure is attached, hope that SH does not wipe it out.

GH
Bullboard Posts