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 > Something is not right ?

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Comment by bull_runzon Jul 19, 2021 4:20pm

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Post# 33570589

RE:RE:RE:RE:RE:RE:RE:RE:Something is not right ?

@Tradeahead 1yr RSI for SILJ is at 25 and for GDXJ 30, signals very oversold conditions. That is like the levels 10 days before the march 2020 low. And has only happened about 3 times in 3 years at the respective lows of the year. Not saying today is a low for mining stocks. But we are due for at least a bounce very, very soon. (metals like silver on the other hand sport an RSI of 34 which is a more "normal" reading, and indicates metals could likely go lower from here, but at least a positive divergence from miners is a possibility in that case). An 8% drop in 10-year today is a positive fundamental backdrop.

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