RE:RE:RE:Glass half empty...glass half fullGreenmahine12 posted "Do you own stock in Novo??? Who is we? Lmao"
Not sure to whom the above was addressed.
It may be me as I started the thread. Yes, like virtually everyone on this board, I’m a looser if you take the change in value of my Novo holdings
over the last 12 months.
I first bought into Novo some 5+ years ago. I added further between Aug and Nov 2017. I sold 1/3rd in July 2018 after a series of repetitive general waffle presentations by QH and “in denial” partial disclosures regarding the samples at Perth. I explained my reasons at the time to this board back in July 2018.
I’ll take this opportunity to make two observations:
- Consider the crushing of samples to ca. 2mm (as reported by BM, and probably a bit of a guess - we have never been formally advised) compared to the smallest sub-fraction of “below 10mm” (in the Tomra PR from Novo yesterday): if you reduce the grain size by a factor of five then you increase the number of grains 125-fold (5x5x5=125). We don’t know what grain size the Perth plant was optimized for but if it was somewhat larger than 2mm then it will have been overwhelmed by the sheer number of small particles. I’m not a geologist but wonder whether Bilbo’s 1000 artisanal miners with their pans and donkeys could do the job better, i.e. when the grains are so small gravity separation may be better than technology!!!
- QH’s strength lies in his strategic thinking. Novo appears to be adrift when it comes to the practical implementation of smart ideas and clear lines of responsibility. More of the same would be disappointing. Individual Novo staff need the chance “own” their responsibilities; less of QH, more of the team.