NovoNovo appears to be at a cyclical low right now .For a long time I used to listen to Eric Sprott on his weekly podcast .He suddenly disappeared without an explanation .A few days ago I discovered that he had reappeared on June 18th for a guest appearance .The gold stock area that he was talking about was Newfoundland and more specifically New Found gold which has a major discovery there perhaps world class ,high grade and similar to Fosterville (though higher grade).
Eric owns 20% of New Found gold and Quentin Hennigh is on thier board (he is a busy man) and swapped NVO shares for a 10% share of Newfound .The share price of Newfound since this transaction has gone up by about 6 times valuing the NVO stake in New found at about 150 million Canadian at current prices .
New Found is drilling like crazy but is down a little from its peak ,it is clearly is in the process of a major discovery .NVO,S stake in New found is worth approximately half the current value of NVO,some of these shares can be sold in the future if NVO needs capital without dilution .
No question that NVO is as cheap as chips right now .