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

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Comment by DavidHasselhoffon May 09, 2019 11:49am

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Post# 29729256

RE:Her Name Was Lola

WolfmanJack wrote: This is my first post on Stockhouse. I've been looking at Novo for sometime and have made some money shorting it. My take on Novo is that it's not going much higher than this. I wouldn't buy it because hennigh pumped it at Comet Wells to get funding to do his science on Wits 2. I don't see how you could trust the man after that. But, just my opinion

Beaton's Creek is about as big as it is going to get. There's only been infill drilling for the last 3 years. Now there going to drill Taiga and Virgin and everywhere else but Beaton's. Why would you drill elsewhere if Beaton's is so great and ready for expansion? Because Creasy owns 30% the profits for land around Beaton's and down dip is low grade and not economical.

Comet Wells is limited in size. Wonder why Novo hasn't drilled down dip at Comet.? Becasue it's not economical to do underground mining at Comet given the very low grade. It will be over $1,200 an ounce to go underground so what's the point. Hennigh is now taking about not renewing leases. Guess where that will be (Hint Hint). Notice Novo hasn't drilled the last 4 miles to the southwest of cannonball. That's because the grade gets lower and lower the farther away from the fluvial area at Purdy's Reward. The size of economical mining at Comet Wells looks to 2500 by 400 (1 square kilometer). Hennigh says 600,000 ounces per square kilometer. And Novo only owns 70% of that. Purdy's Reward is probably about the same being a little smaller and a little richer being a fluvial area. Novo only owns 50% of that. Novo hints it's found several other areas of interest. Doesn't sound earthshaking given Novo is in no hurry to announce it. The shell game swithch to Egina was a tip-off that Comet Wells/Purdy's turned out to be duds. Artemis right next door to Comet Wells has miles of exposed conglomerates and hasn't found anything worth mining. No, can't get excited about CW/PR.

As for Egina, there's been small scale mining operations of the terrace going on for a century. If people were making it big in a large area it would have been mined by now. The grade is so low and the margins so small it will never drive Novo's share price much higher if at all. Looks bleak to me but to each his own.

Oh by the way Huff, I always put you on the same leval as Barry Manilow.

Best,

Huffman Jack