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

Bullboard Posts

Comment by nambuon Sep 30, 2005 4:57pm

147 Views

Post# 9639087

RE: Is NVO getting ready to breakout?

No. But we can all dare to dream I suppose... Clear descending pattern and watch out as there is no bottom if we cross .41 on the 90 day descending line and then into a clear death spiral if we test .36 (or God forbid a new all time low). There isn't any support here let alone lower with the miserable volumes - even on news! Be patient to get back in those that have sidelined as I have - or true-blue longs you'll get a shot to average down. (I know I seem to post this every several months but haven't been wrong so far

As a sidebar, not many should be worried about a penny like NVO specifically - when we find out how deep the fraud goes at Fannie Mae and the entire US mortgage refinance and re-insurance system falls apart... get your helmets on. Charges from Katrina and Rita are just a drop in the bucket compared to the huge fallout coming from Fannie and Freddy - the US government and banking establishment are going to be bleeding from every orifice. cough - buy gold... or water, canned food and shotgun shells hehe... There's time for NVO after the smoke clears. Just hope the exchange rates don't shrink their US margins into the red when it does. Longs will be averaging down after the NEXT consolidation! IMHO of course.