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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 Jan 15, 2020 5:16pm
168 Views
Post# 30557622

RE:RE:RE:Kalamazoo

RE:RE:RE:Kalamazoo ike,
If you just look at the facts and ignore the details as an investor then your worries/confusion would go away. Since, to get to the bottom of this you would need to do some research on the rules and Fed/State regulation on mineral exploration and mining and their power to impose conditions  (there are all kinds of conditions, including compliance with aboriginal requirements, but they have an established process to go through, on the license owner.  As the quote says, "tenement EL 3539 was taken out of KL hands...". This is true, and becomes a fact as part of a deal with KL. Now, this tenement plus other bits get larger and surround Forsterville mining lease. This much larger  tenement is now up for an auction (results will be announced late Jan or Feb). Bet that KL is in the running and already put in a bit. KZR and others are doing the same presumably. If KL were not a winner in this auction, then it would be very disappointed. But there would be a fallback position, if KZR somehow got a much better bid and became a winner...Entering QH, Uncle Eric with 8.2% each, and an option to double down at 0.80 for a total of 2 x8.2% = 16.4%.
Some more facts
- KL is a major shareholder of NVO, ES is next in line (he sits in NVO BoD); KL has an option to get more shares of NVO at $6 (They have invested at $4/s for 14Ms x 4 =$56M in NVO. Another 14Mx6 = $84M to invrease the hold in NVO is chump change for his $600M+ in Tony's petty cash box.
-Tony Makuch has high regard for QH (see his fireside chat with NM)
Speculations: NVO +ES buy-in KZR is an insurance policy, just in case AZR is a winner of the acution. Besides, AZR has some excellent drill results at Castlemaine some 45km away from Forsterville.
BTW, if you look around, there is a map that shows the location and the size of Block 4 compared to Fosterville. I don't recall the link at the moment, but this could be in one of related articles. Or it could be in KL website when they talk about Forstervile and the exploration ground around Forsterville mine. Good luck.
GH11
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ikebalinski wrote: I am confused....could someone explain why this tenement was taken out of Fosterville?

Was it just not interesting?

The exploration tenement previously known as EL3539 was taken out of Kirkland Lake’s hands in February as part of a deal that absorbed portions of the tenement into the Fosterville mining lease


Bullboard Posts