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

Bullboard Posts

Comment by JRafflesUKon Nov 16, 2020 6:30am

99 Views

Post# 31905074

RE:RE:RE:RE:RE:RE:RE:Wiseguy and Tx!

KL could argue that a sale of NVO shares at ~ C$3.5 would give it a tax loss based on its C$4 purchase price in 2017.

This could be set off against Osisko capital gains.

Notwithstanding this, $1m is petty cash to KL and would seem to be short sighted to piecemail sell off a strategic block of shares in Novo.

Moreover, if KL wished to exit NVO, then they could have offered their substantial share block to Sumitomo.

Bullboard Posts

The top 10 artificial intelligence penny stocks