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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

Post by WisGuy1on May 18, 2022 7:53am
181 Views
Post# 34691582

Sorters

Sorters
shanplus43 The sorters have been moved from the Mill to Karratha. But Novo has permissions to process only around 20 to 30,000 t of ore at these locations. So these are not commercially viable operations at this point. I believe the process of permissions to deploy ore sorters for commercial mining is about 12 to 18 months long. 
 
We should expect the sorters to be deployed for production by Q1 of 2024. My guess it is going to be about 5 sorters operating in parallel. The lead time to manufacture these sorters machines is about 8 to 10 months and so Novo should be placing orders by Q4-2022 or Q1-2023. Perhaps a bit too early to talk about production numbers.. but at the very least, we should have about 50,000 Oz from sorters in 2024. 
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