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 6,700 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 lithium joint ventures with both Liatam and 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 > LOL trading below cash value...

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Comment by Bigredlark12345on Dec 01, 2022 12:01pm

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Post# 35143337

RE:RE:LOL trading below cash value...

Obliviously you can't as of Sept 30th the company had over $46 million in cash and over $20 million in Marketable securities.They took a one time impairment charge on the mine they are closing down.That is not a real loss yet and most likely won't be.Under GAAP,an impaired asset must be recorded as a loss on the statement.This company can drill for years....

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