Post by
Perambulator on Mar 26, 2023 7:54pm
Hilarious...Bellary Dome Exploration.
Im not always right but I was about Novo pursuing its next project. I predicted all the mining companies in the Pilbara would be lining up to sell there junk projects to cashed up Novo...anything that looked like it could be a Hennigh promotion. And here is Bellary Dome...Novo couldnt find anything on their own ground despite spending millions with there team crawling through minedat data looking for old mines on their tenements they could sell as the next best thing...nothing but kangaroo pasture. So they bought Bellary Dome.<br /> <br /> A bit of history...at the height of the conglomerate hype back in 2018 Bellary Dome was held by Marindi Metals under a % deal with the tenement owners. When it was known that prpectors had found conglomerate gold nuggets in the area and Sprott found out, Geoge Mehri, the Pilbaras gold exploration expert geologist, was made available to Marindi to conduct exploration. Unfortunately George didnt find anything new....conglomerate gold had been trenched and assayed decades ago and as it the case throughout the Pilbara, pockets of concentrated ore were found in drainiage channels which were great for prospectors but thats it...no where near economic. Marindi tried to sell off the dome to Pacton Gold...they had accumulated huge areas in the Pilbara, but none had any known conglomerate gold outcrops...Bellary Dome woukd give them some badly needed conglomerate gold so they would look like a legitimate player in the conglomerate scam started by Novo. Sprott was providing up front cash for the deal, but he pulled out when he relised the tenement owners were demanding such a high free carried % from any gold mining. Pacton were not in a position to offer any up frontu cash so the deal fell through. Now Novo are "exploring". This has exited the dumb Novo Holders on CEO forums, and maybee some clueless newbys will buy shares given the recentt gold price action.....
Comment by
GildedWillie1 on Mar 28, 2023 3:55pm
I guess it's all in the balance sheet as Bucc suggests. A close look ain't pretty, but if you turn a blind eye, they have cash, some ground to explore, and might get lucky. But they certainly have no more potential than a host of other Pilbara explorers at present, who also have no dead Mill around their neck