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Novo Resources Corp T.NVO

Alternate Symbol(s):  NSRPF

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.


TSX:NVO - Post by User

Comment by mortgages101on Apr 26, 2022 11:20am
116 Views
Post# 34632182

RE:Why I'm still long

RE:Why I'm still longMineshack, correct the best option for BC is to be put on C&M. And Sumi is not buying any novo shares past, present or future. Don't get it twisted they solely took the shares to recoup as much as possible the small amount of funds they  put in at Egina. So no, they will not be buying any shares. They were burnt by Novo, and also 99% sure QH and Novo ask Sumi to finance the mill acquisition. So said no. I'm sure they don't regret that decision. In other words Sumi has seen novo fall flat on their face multiple times. Novo is a long shot exploration company with a huge cash burn. Makes it a riskier investment then your usual explorer. 
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