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 > PP all filled

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Comment by BetontheFed1on Apr 15, 2021 11:07pm

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Post# 33008903

RE:RE:RE:PP all filled

Based on QH's comments in the Kereport interview, Novo is still spending more cash to mine Beaton's Creek than it's getting from selling the gold. Might be because they started mining in a low grade area. Whatever. Expect a cash cost per ounce of $1,900 U.S. and an AISC of $2,2200 U.S. for the quarter ended March 31. The second quarter will probably be around $1,750 cash cost with AISC of $2,000. My guess they won't start making a profit until the third quarter. This will be a horror show for the next 5 months.

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