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 > Some observations

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Post by Mineshackon Jul 07, 2021 1:08pm

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Post# 33505862

Some observations

Novo’s cash position and working capital remains robust, with cash reserves of C$46.3 million as at June 30, 2021, a 2.4% increase over May. The critics who claimed Novo will need another private placement must be very disappointed.

June average grade was 1.45 g/t Au, an increase over Q2 2021 average grade of 1.30 g/t Au.

Mining productivity has continued to improve, with record movement of 232 kt gold-bearing conglomerate material in June, a 57.8% increase over May. A total of 134 kt of gold-bearing conglomerate material was processed in June, a 2.4% increase over May. This exponential increase of mining production versus mill capacity must be resulting in significant stock piling.

Onsite lab development and bringing the Chrysos Photon Assay machines online offers significant potential for additional increases in gold production as do other mill feed sources and pre-processing with ore sorters. And the land package size suggest further improvements will be sustainable for decades to come. Novo appears to be a safe and rewarding store of wealth.

While these June numbers are not radically surprising, they do demonstrate the team's determination to continually improve operations. Their impressive success makes me wish I were shacked onsite and a part to it.

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