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 > Ref: Cash burn in the article

<< Previous

Bullboard Posts

Next >>

Comment by mortgages101on Apr 18, 2021 11:48am

116 Views

Post# 33018925

RE:RE:Ref: Cash burn in the article

Hate to say it but QH looking more and more like a man out of his depth.

Looking back the only not scripted interview he's made was the Crux interview last year and that has not aged well of QH.

Expected Mill cost mentioned in the interview around $50M. Actual cost 100% more.

Repairs/drilling $25M-$30M. Safe to say that say that's now 100% more with a running total.

Then 2-2.5 gpt now talk of .5-1gpt

Good financing terms available to the company. Ended up costing 20% for the facility and further dilution.

float has increased by some 62M shares. Loan of $40M. We got a freshly painted mill and 3 gold bars in exchange.

<< Previous

Bullboard Posts

Next >>

Advancing flagship Ishkõday Gold Project in Ontario