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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 Perambulatoron Jul 21, 2022 12:40am
87 Views
Post# 34839210

RE:Keep cranking it out

RE:Keep cranking it out
Buccaneersllnd wrote: At a larger and larger loss with each passing day. Shutting it down today would make too much sense.

I wonder if this is good for the pfs:

https://www.mining.com/gold-price-sinks-below-1700-ahead-of-key-central-bank-meetings/


Bucco


I have seen companies mining and processing at a loss before, but in EVERY case they had a plan to improve recovery by trying new methods or additional processing or the promise of higher grade ore just around the corner. I have never seen a company just keep producing at a loss without a plan to improve production, and to keep it up for so long is just sheer stupidity. Not only have costs risen and the gold price reduced, but key personell must have already left in droves knowing shutdown should have occurred six months ago. So who is running production? Clown show run by incompetent idiots.
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