RE:WG and the millYes at least he's honest! Really there are two choices for Novo, invest around $200-250 million to upgrade the mill with an oxidation plant to treat the sulphide ores that are the predominant gold source in the region, or hope to be able to give the mill away to a taker who will also be ok with taking over the environmental liabilities. If it was the latter option, Calidus Resources might be interested, as they bought Blue Spec off Novo two years ago and are looking at upgrading their new Worrawoona CIL plant to treat high sulphide ore. They could upgrade the Novo mill instead and save a lot of trucking distance from Blue Spec and adjacent deposits, as well as taking over the old Millenium mines that are associated with the mill that have plenty of gold once it can be profitably extracted by an oxidation plant. If Novo can offload that liability by giving it away, they may just about be worth their current market Cap.
My guess is they will try to get a shelf company with zero value to buy the mill for $1, and walk away, leaving that company to fold in a year or two, leaving the clean-up of the mines and mill to the WA government. Thats the tried and tested approach if you can find some dodgy directors to take the heat if the government decides to come after them for liabilities!