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Novo Resources Corp T.NVO

Alternate Symbol(s):  NSRPF

Metals & Mining Gold
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

Novo Resources Corp > Wall of Worry
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Post by Mineshackon Jun 15, 2022 5:04pm
275 Views
Post# 34759534

Wall of Worry

Wall of WorryThe market slapped-down Novo 26% today on news the company is responding to its negative cash flow problem and the delays in obtaining fresh rock mining permission from the government.

  • Production to pause by a phased wind-down of operational activities finishing by the end of October 2022.

This news proves management is concerned about its own success and reputations. What incentive is there in allowing the company to fail?

 
  • Production expected to commence in approximately 12-18 months.
 

Ending the steady bleed of negative cash flow while defining and permitting higher grade resources is what we knew management needs to do.

I think the market is wrong today. The future just got brighter for shareholders. The stock price should be up on this good news and may currently be the best value among resource opportunities.
 
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