Novo Resources Corp T.NVO

Novo pockets more cash from Blue Spec sale

[WisGuy1]

"However, with Calidus installing a sulphide circuit at its plant to process the deeper ores at its Warrawoona operation, the ASX-miner is providing a ready-made processing solution for not only Novo’s sulphide deposits but a swag of isolated discoveries across the eastern Pilbara. With both cash and shares set to hit Novo’s accounts in the coming weeks and the company already pouring gold from its Beatons Creek operations, Novo is proving to be a rising star in the gold sector as it mines a wealth of mineralisation from the emerging Pilbara goldfield.”

https://thewest.com.au/business/public-companies/novo-pockets-more-cash-from-blue-spec-sale-c-2425799

[ronreagan]

Thanks again, Wiseguy.  So, MOY screwed up in that they were trying to process sulphide ore in a mill that was designed to process oxide ore. And, instead of resorting to proven technology to make the fix (e.g. the Albion Process, as Prof. Tx pointed out some months ago), they were hard-headed and simply failed to get the job done. The ultimate result is they ended up mining and processing

[smilingmickey]

Hi Wise Guy, I am under the impression that a major reason that the MIllenium guys finally  went bankrupt was the they ran out of oxide ore and were processing the ore that remained  on their land which was mainly sulphide. Is this true? If Novo now own this land they have access to sulphide containing ore remaining,  would it be economic to ship this ore to Calidus? SM

[WisGuy1]

SM, I think so, but I really don't know.

[SamTroy]

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[ronreagan]

Hey Sam, Wiseguy impresses me as somebody who likes to get answers straight from the horse's mouth - and then SHARE same with everybody around, which we definitely appreciate. If there was something bad, I'm confident he (and QH) wold tell us.  You might want to try that. NOTE TO FILE: There's a BIG difference between the horse's mouth and the horse's @SS, so making up

[SamTroy]

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[bull_runz]

There are barely any sellers at this level, so Bashers will say anything to trigger bids.

[SamTroy]

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[HuberPeter]

Good News; about 250k ounces still in the mill deposit ready to mine