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 > Is @Tradeahead a paid pumper?

<< Previous

Bullboard Posts

Next >>

Comment by Mineshackon Jun 09, 2021 1:37pm

131 Views

Post# 33355924

RE:RE:Is @Tradeahead a paid pumper?

Though the question wasn't asked of me and I may not fully understand it, I would like to try answering.

There is a break-out of financial details later in the news release titled Novo Financial Position and as described in footnote 1.

Novo Financial Position
The Company’s cash reserves increased to C$45.2 million as at May 31, 2021 as a result of the Company’s recently closed special warrant financing ( refer to the Company’s news release dated April 14, 2021 , May 4, 2021 , and May 26, 2021 ) along with operational revenue of C$10.8 million (A$11.5 million) from the sale of 4,754 ounces of gold and 543 ounces of silver in May 2021. The Company does not have any hedging facilities in place, allowing full exposure to the improving gold price of approximately A$2,440 (US$1,890). In addition to its cash reserves, the Company’s portfolio of investments held a fair value of approximately C$204 million as at May 31, 2021.

Footnote 1
This value excludes the fair value of warrants held in GBM Resources Ltd. and Kalamazoo Resources Limited. Novo’s ability to dispose of its investments is subject to certain thresholds pursuant to its senior secured credit facility with Sprott Private Resource Lending II (Collector), LP. Please refer to the Company’s management discussion and analysis for the 11-month fiscal year ended December 31, 2020, which is available under Novo’s profile on SEDAR at www.sedar.com. Novo’s investment in New Found Gold Corp. is subject to escrow requirements pursuant to National Instrument 46-201 Escrow for Initial Public Offerings . The value of Novo’s holdings in Elementum 3D, Inc. (“ E3D ”) is based on E3D’s most recent financing price of US$2.50 per share. The fair value of Novo’s investments is based on closing prices of its investments and relevant foreign exchanges rate as at May 31, 2021.

Dormie18 wrote: WisGuy1, is there a breakout for this statement anywhere? Is this all NFG and if so, at what price?

"(excluding fair value of investments of approximately C$204 million)"

It's odd that they would tack this on to the month-end cash balance if it's not immediately convertible to cash and they aren't intending to sell all or part of these assest anyway. (at least I hope they aren't)