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Novo Resources Corp NSRPF


Primary Symbol: T.NVO

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

Post by GildedWillie1on Feb 20, 2023 9:25pm
485 Views
Post# 35295546

Comparison with DeGrey

Comparison with DeGreyWhile AuInvestor likens Novo to DeGrey, it misses many important points. Like DeGrey leases are pegged out along a 150 km major crust deep shear zone that has been around since the Archean era and it a conduit to lots of mineralisation and intrusion.  Novo on the other hand is pegged out on erroded areas generally away from faults/shears because it was based on the discredited witts theory around alluvial transport into conglomerate.  DEGREY  also did a a massive 20 to 1 consolidation a few years ago when it ran out of  funds and support. So it's success really depends when you bought into its story. Despite that, now the false witts story and focus is over, Novo still has some good prospects  , Becher included, as well as real geologists for once.  Actually DeGrey held some of that historically as well from memory and did some drilling there over 15 years ago. So when Novo does a consolidation  , or gets to 2.5c a share , it might approach the value in MC that DeGrey was before its luck changed. But the Mill is just an albatross now. Unless high grade, low sulphur gold is found nearby,  it's just a long term loss in maintenance costs. There is a nearby new mill (BEING FED IN PART FROM A MINE THAT  NOVO SOLD IT after inheriting it feom Millenium!) that is properly set up to deal with sulphide ore that will otherwise out compete the  Golden Eagle mill anyway making it redundant to any regional discoveries. Buyer beware .. do your research 
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