It’s Now a Matter of TrustWhat I walked away with from yesterday’s presentation was a few clear and simple messages from Quinton Hennigh delivered in classic QH style….
- We are not releasing grades for PR/CW until we file a mineralization report.
- Beatons’s Creek is much bigger than the current resource estimate and growing.
- Egina is Huge.
- There are more Eginas, Beaton’s Creeks and Comet Wells out there. Novo is going to buy more of these properties and as such is still in stealth acquisition mode. That’s what we do.
- The current priority is to buy up as much of the prospective land in the basin as possible.
- This is a very, very big gold system(s)… and It’s now trust me or don’t.
I was definitely disappointed there were no grades released and no 3D model. It seems clear that NVO believes releasing a limited number of bulk sample results now would not give the market a representative picture of the overall average grades for the area. Sample grades are too inconsistent. They do however meet the requirements needed to complete a mineralization report and get an “M” license for CW/PR. That’s what these bulk samples were intended for.
For me there was no
bad news yesterday, only a lack of news. The overall picture is even brighter now with the Egina acquisition adding millions of ounces to Novo’s growing (but unknown) resource base.
I’ll go forward now without expecting news on grades. I’ll look forward to the mineralization report release. I will also look forward to corporate news that could come at any time, because I believe as TXRogers has suggested this will legitimize the Pilbara as a viable gold district and the market will revalue plays accordingly.
From reading the posts over the last 2 days I see many have thrown in the towel. I truly believe that this play has come down to a matter of trust. Either you trust Quinton Hennigh (and the evidence he and others have presented so far) when he shows us the vastness of the Pilbara from a drone and tells us it’s covered in gold, trust me and be patient a while longer…
or you don’t.
I’m definitely still in.
gc