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Novo Resources Corp T.NVO

Alternate Symbol(s):  NSRPF

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

Comment by roberto146on Jun 21, 2021 6:02pm
92 Views
Post# 33424700

RE:RE:RE:RE:ES LIKES QH

RE:RE:RE:RE:ES LIKES QH"I don't think the intention is necessarily to have a gold backed currency that can be interchangeable with gold itself per say."

Then what's the point? Some country says they have a gold-backed currency. Some other country presents that currency, which they may have obtained by trade, and asks for gold because at this time they may need or want it. They are told No, you can't have gold. So they may just have paper, (like when you go to a bank, exchange paper, for ... paper of a different denomination, or maybe base-metal coins) or maybe just keep the paper, or flog it off to some other country at a discount. 
If it's not convertible, it's not gold backed. It is mandatory that it be convertible. Country A could have 50,000 tons of gold and print money forever. If people take that money, and can't redeem gold for it, there will be no confidence in the currency; it's still just fiat money.
The gold backing/convertibilty is what provides the confidence.
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