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 > Investment Case

<< Previous

Bullboard Posts

Next >>

Comment by HuberPeteron Mar 21, 2021 3:58am

93 Views

Post# 32846342

RE:RE:RE:RE:RE:RE:Investment Case

I think we had a misunderstanding. Compared time from may to end of October.

ex sedar Financials

07.06. 2019. 3 year earning JV (40% for 29.66m usd)
31.10. 2019. 1059
30.01. 2020. 4598
31.07. 2020 5792
31.10. 2021. 5656

spending of sumitomo has to be evaluated very carefully after the exit of KL. It's a critical factor for the investment these and very important for scaling up. As you mentioned spending was low the first quarters of this year. Explorationplans and Mak results shows no Sign of lower potential:
https://www.novoresources.com/news-media/news/display/index.php?content_id=399

Overall it looks like a strategy not some trouble Shooting. Q.H. was waiting for fail of Millenium res and took the mill fitting for the BC ore. It makes much sense to focus on nullagine district too:

https://www.novoresources.com/news-media/news/display/index.php?content_id=429

PP, sprott facility, good mechanical sorter improvements and good Project Management for restarting nullagine give some confidence.

Peter

Harmonicka wrote:

HuberPeter wrote:
Checked sumitomo. They spent about 1.1m the last 2 quarters. Not much but spending was at low pace before too. In December they went in a new JV with novo for some new Egina tenements.

peter

No Peter. The liability Oct 31 shows $5,656,000 and Jly 31 5,792,000. You dont add them. Thats the cumulative theyve spent at each date carried on the books as a liability. It was adjusted downwards over the previous quarter for some reason, but regardless, Soumi stopped spending money back in the Jly ended period. We will see what the next financials show when they come out.

H