RE:RE:RE:RE:RE:RE:RE:Novo share priceIskyhigh
I am not necessarily disputing that the deal was a bad one - if I could invest in that business concept alone for something like the price they paid for it, maybe I would?
But Novo has almost a $500M MC. At the end of the day this was created and IMO continues to be supported on the belief that a hard-rock reef system is intact and high grade. The company has utterly failed to prove those two things so far - I hope they do with their assay results (if only over a small footprint). It is a shame that the lower cannonball unit is so poorly exposed - that is really where I think the best value is, if anywhere here. It seems to have some thickness and good grade (from the 2! samples released to-date plus some flashed nugget sheets in Denver). Unfortunately they dont really seem to have a plan for testing that outside of the small drainage exposure (which leads to another question - why is the exposure so poor? Basement topoography is rising?).
Anyway, my inclination is still to believe that they will have a sheet or two of mineralization at Comet Well that runs good enough grade - I just think the shares are going to see more pain before that is put into focus. They need to drop the statistically significant assaying BS. Take a rental crush plant out there, detect, weigh and release the gold quantities. Then say, well there is probably a bit more gold in the fines that we are missing - they can never over-state assays this way. I dont see the issue..... Shareholders would be infinitely better informed. The mining ministries would accept that data for the boogey-man mineralization report (why wouldnt they accept conservative values without the fines?).