RE:RE:RE:nice action todayI'd add that worst comes to worst. Burning more thant 10$ M a month they will be with no cash in a couple of months. How long do you take to arange a financing?...a month?...so how long do you guys think a new financing announcement will be out?....It is only a matter of time.
Moreover, If you think NFG may save NVO's @ss you are probably wrong. I have the feeling that NFG is a "smoke and mirrors" story like NVO and it will follow the price's cycle of NVO. That means it will trade 1/5 of today price in 2 to 3 years if you are lucky and it would still be over valued for what it is known and not known today.
You can dream, hope and speculate as much as you want but keept in mind that all your money invested in this shitshow is most probably lost....but hey...money is not the only important tthing is life eh....
Have a great week end !!
BuccsLaundromat wrote: BetontheFed1 wrote: Expect a lot more days like this until production problems at the mill are addressed. The exploration video reeked of desperation trying to get the shareholders attention away from the fact that the grade of the ore delievered to Beaton's Creek have been a disaster and they won't say when and how things will improve. They won't say when the fresh ore at Beaton's Creek will start to be mined and if we can expect 40% dilution for that type of ore too. I don't think dilution will be any better for the fresh than for the oxide as the gold is still in certain conglomerate layers. A 40% dilution rate for the fresh would raise the grade through the plant to 1.74 gpt ,if you believe the PEA, which is a lot better than the 1.2 gpt from the oxide. That would be 100,000 ounces per year if they can keep the plant from breaking down once a month. Where are the permits for the fresh? Have the request for permits even been submitted? What is all this drilling showing in regards to Beaton's Creek grades compared to the PEA. How is the feasiability study going. Why aren't we getting answers. Anyone here think Novo can get permits to mine any of these exploration areas in 2022? Anyone think they can mobilize another mining operation in the 2022. Novo needs to do an hour and a half webinar on what to expect from mill production in 2022 and how much profit (if any) to expect.
Well, since you arent getting answers from the company how about getting answers from the resident troll?
They have applied for the permit. I have heard it will take 2 years to get because it requires a P1 or high risk permit. The fresh is below the water table and its acid generating. The town is also nearby. The permit is harder to get because of these issues. They say its not an issue. I hear otherwise. I hear they are running out of oxides already even though they were supposed to have another year of reserves, thus the search for other ore nearby including refrac ore from GE of which 70% of the gold below 20m m will go out to the tailings. The oxides above that have already been picked over by moy, and the drilling to date has been mostly to confirm old hole results.The lower grades of late also would indicate they might be mixing in old moy refrac stockpiles because they are running out of oxides.
The fresh is a lot harder than oxides. Harder on everything. And bigger boom boom and mixing of multiple layers with waste so I expect dilution will be even worse, if they make it long enough to mine it ,which I doubt. And if they do I would expect both the grade and number of ozs to be less than the 43-101. I also expect it to be much less economic than the current uneconomic oxides despite the grade because the stip ratio increases to as high as 11 to 1 in the fresh.
If you have other questions that you cant get straight answers to I am here to help.
Bucco