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 > STUNNING NEWS - MARK THE DATE!

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Comment by Mineshackon Jun 02, 2021 9:31pm

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Post# 33316583

RE:RE:RE:STUNNING NEWS - MARK THE DATE!

ValuePro. I respectfully suggest you reconsider. If the world returns to demanding gold for payment, the 1930's may become very comparable.

"Back then, POG was dictated by the government."

I must disagree. It was only dollar price the US government dictated. Same as now.

"Changing the "official" value of gold by nearly 70 percent caused a boom in gold mining stocks back then."

Once again, the value of gold did not change. The boom Homestake experienced was due to world demand for gold and the depreciating value of dollars the company traded in.

"It also helped to finance the US government during the Great Depression."

Actually, it was the confiscation of the peoples gold that served the government as income.

ValuePro wrote:
I appreciate the thought, but making comparisons to the price of gold and gold stocks in the 1930s is a useless endeavor.

Back then, POG was dictated by the government. But they then confiscated all the gold in circulation and made it illegal to use within the United States. Once accomplishing that, they raised the official exchange rate from $20.67 to $35.00 for international trading purposes, effectively stealing the difference from the public.

Changing the "official" value of gold by nearly 70 percent caused a boom in gold mining stocks back then. It also helped to finance the US government during the Great Depression.

Let's hope that free markets in gold and silver will prevail in the coming crisis as we can count on government to get anything right.