AUinvestor @AUinvestor Imagine what a Gold price of $2500 in late May will do for this cashed up producer... I imagine the NOVO shorts will now be forced to run for the hills (those that thought for sure Novo was going to do another capital raise by selling more Novo shares just got screwed when the deal was cut to sell 15 million shares of NFG to the corporation controlled by Eric Sprott for C$125.9 million representing an aggregate 9.3% premium to the market). Novo will be debt free cashed up C$97 million (along w/ approx. C$21 million in securities) to continue their massive exploration program of their dozens of different mine sites throughout Australia.
This chart shows Novo's share price when it rose over 1,200% in 2017 and then took back all it since to fully retrace its initial largely promotion-driven move... and in the process, shake out the weak monkeys that ran it up. Those of us with a long-term view have remained accumulating shares at the significant dips.
I imagine a Gold price tag of $2500 by end of May with drill and ore sorting results will put some pizzazz back into the share price, and start the rocket launch.