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 6,700 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 lithium joint ventures with both Liatam and SQM in the Pilbara which provides shareholder exposure to battery metals. Its Belltopper Gold Project comprises the adjacent Malmsbury and Queens projects.

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Novo Resources Corp > simsalabim

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Comment by HuberPeteron Mar 22, 2021 11:54am

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Post# 32850414

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:simsalabim

they changed because they know a PEA with such low Ressources would be much to weak (IRR) to get financed the capex. Particularly in times of weak gold price. in addition the inability to prove Ressources economically because of nugget ore in a traditional Jorc Standard.

I wrote twice the purchase of the mine was the best strategic move they could do. That changes everything when it works out. Then they have a CF machine. They will feed the mine for a long time without jorc defined Ressource from additional BC drilling/bulk sampling. In addition they can prove many other tenements.

For me the risk/opportunity changes dramatically on a positive way.

Peter

BuccaneerBoris wrote:

BuccaneerBoris wrote:

HuberPeter wrote:
You compare Apples with oranges in the case of marlatic mine.

1.8mt p.a. is a small mill in nullagine. But together with excellent open pit grade and the the current Ressources it is Perfect for novo, 120k-140k oz per year will be a nice FCF.

Marlatic has about tenfold capacity. 1.1 gpt reserves. You can divide it by two when you compare with novo because of half grade. Then the Open pit ist down to 400m; not 70m like BC. Cash costs about 630 usd.

As you see my assumption of 650 usd Cashs costs for BC is not out of limit.

.

peter

Harmonicka wrote:

HuberPeter wrote:
Tpd is Important for IRR. But novo has the mill. Relevant are Cash costs. And with 2 g/t I have no fear. Conglomerate or not.

Q.H should have made DD while waiting for bankruptcy of millenium. M. Spreadborough with good reputation went on board of directors. Some insider buying too. And that all in the critical phase of ramping up. Confidence is high that BC works.

we will see soon

peter

If you have the mill paid for and you process only 1 tpd are you going to be cash flow positive if that tonne contains 2 gm a tonne? Extreme example to prove a point. But I "liked" you anyway.

Ok I will shut up now for a while. Back to your regular programming. Ronnie, and Bull, go nvo go. Rah rah.

H

You are the one who brought up pits that mine at 1 gm and make money not me Peter. I am telling you that they can make money at a much higher tonnage which is why I brought up CMM. So find me one that makes money at 1 gm doing 5000 tpd. Ditto for the aisc. You wont get an aisc of $650 at 5000 tpd either.

So I repectfully disagree with you.

Boris

Which btw is precisely why nvo moved on from PR Cw to Egina and then back to BC. The only reason they are testing a sorter at Karratha is to try to keep the 14000km sq story alive. I dont expect that to be ecoonomic in the end.

Boris