Novo Resources Corp T.NVO

The information is there if you search!!

[smilingmickey]

Here is part of the RNS NVO issued re the purchase of the Millenium Mill

"A decision by Novo to place the Beatons Creek Project into production following the completion of the Acquisition might be made without being based on a technical report, preliminary economic assessment, pre-feasibility study or feasibility study of mineral reserves demonstrating economic and technical viability, and, as a result, there may be an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. It is further cautioned that the mineral resource is preliminary in nature and includes inferred resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral resources that are not mineral reserves do not have demonstrated economic viability."

Maybe the ore will not be suitable for the Millennium MIll? Enough to suggest to some that NVO was taking a great risk with shareholder's money? Maybe including the accountants at Kirkland Lake? Is this the reason for the plunge in the share price?

A trawl through NVO's many RNS's plus 43 101 resource estimate reports related to the Beaton Creek deposit would suggest that NVO has very good reason to expect that the ore will be of suitable quality to feed the newly refurbished mill, despite the lack of a written Feasibility Study. eg Novo has an RNS dating back several years, suggesting that an upgraded gravity separation plant (of a type much used in Australia) would be just the job!  Is this not what  "Acacia" is?

Why was Beatons Creek Ore never likely to be put through the Millennium Mill  or a Feasibility Study  never written?

Answers on a post card.

SM

[TXRogers]

Yes , the information is all there. So, why do you think the BC PFS will be released around the same time the mill commences production?  Seems a bit out of sequence, doesn't it? The information is indeed all there.  But that does suggest that the overall understanding is included. Tx    

[smilingmickey]

Thanks TX. I guess (from afar)  to enshrine the value of the assets. Or maybe at least (given the current main discussion points on this board,) not to mask them!! SM