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.

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Novo Resources Corp > Petr'

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Comment by HuberPeteron May 01, 2021 9:37am

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Post# 33107996

RE:Petr'

BuccaneerBob wrote:
Peter

I had no intention of reading the pea because they used the aisc of other miners, Australian miners if I recall, and Q says himself no one in Australia has mined Horizontal deposits before. So they have no clue what the aisc is going to be. But thanks for reading it and posting your points.

Comments on your points:

The deposit dips to 80m under overbudern not the 65m I had been estimating based on one of their drawings. So even worse.

Fresh start in year 1 in minor amounts, not year 2. Will they be permitted to mine even minor amounts without the fresh permit? I doubt it if its acid generating which it is.

They have 6 yrs of reserves/resources. Why would the market give it any kind of p/e multiple? If the mineralization continues further out is it under even more than 80m of overburden? We know that 3 km thataway its under 500m of overburden as they drilled a deep hole in 2016??

This stuff:

- 0.5 m samples through the mineralised zones (nominal 20 kg sample)

• sampling from 2 m above and below the mineralised zones

• RC chip logging

• mineralised material spotters to control the mining process

• face mapping to assist control and visual identification of the mineralised zones.

Forget it, its too demanding, too expensive and too onerous for a commercial operation.

"Plan once went badly in the pants.” Lol, you got that right Werner. I bet hes wearing a diaper lately.

"I assume with about 1000 drills.” I didnt know Germans had a sense of humour:)

Inferred grade: Why would anyone assume the inferred grade is higher than the indicated grade as per Crux. Wishful thinking.

"My risk profile has changed dramatically. 20% investment - 80% speculation". There is hope for you Werner. At least you are seeing the red flags now. I suppose the question is “ wheres the upside”, and are there better risk reward stocks out there than this pos run by people who wont even tell their shareholders the grade and go to extreme lengths to hide it.

Finally, dont count on sorters to save the day. They are a fairytale. No company uses them as the primary means of extracting gold. They are bolt ons for specific issues.

Bucc

@aisc / Cash costs: it's not possible to take Economic numbers as you like in a PEA. Some grade of certainty (+/- 35%) has to be validated.

@fresh air: you are right. Less in q1. Don't know know how to handle.

@depth: most is about 50m

@inferred grade difference overall:
most of it is referred to fresh oxide. 2,7 g/t indicated; 2,9% inferred. Not much difference ;)

@multiple:
Novo is not only producer. Without mill they traded also about 400m cad. But now they have to prove some kind of profitability; otherwise it will be very hard.

peter