Bullboard - Stock Discussion Forum 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... see more

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TSX:NVO - Post Discussion

Novo Resources Corp > Novo Resources Looks To Raise $22 Million Via Special Warran

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Post by AwareInvestor on Apr 14, 2021 8:50am

Novo Resources Looks To Raise $22 Million Via Special Warran

Novo Resources is the latest firm to announce a financing this morning. The company is looking to raise $22.0 million via a marketed private placement led by Stifel GMP and Clarus Securities.

https://thedeepdive.ca/novo-resources-looks-to-raise-22-million-via-special-warrants/

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Comment by ValuePro on Apr 14, 2021 9:38am

Was this foreseeable? Am I wrong in taking this as a surprise? While the market is taking this as bad news, it may not be that at all. Had I extra cash this morning, I'd be a buyer. Explanatory news to follow soon, I'm sure, and it will probably more than makeup for this morning's knee-jerk response. VP in AZ

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Comment by TXRogers on Apr 14, 2021 9:45am

Forseeable? I wouldn't say so. But loan sharking has been around for a while now. Tx

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Comment by ValuePro on Apr 14, 2021 9:57am

One does not go to loan sharks except out of desperation. As far as I can tell, the company has displayed no evidence of being in desperate straits, at least to this point. Man, the selling is brutal! More weak hands here than I thought possible. VP

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Comment by TXRogers on Apr 14, 2021 10:03am

It's not all weak hands. The conditions have been created where high value investors are now dumping their positions to purchase the Special Warrants. The leverage with these SW's is extreme. It's not a nice thing for the average Retailer though. Tx

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Comment by ValuePro on Apr 14, 2021 10:18am

"The conditions have been created where high-value investors are now dumping their positions to purchase the Special Warrants." Ah, that makes sense - privileged positions exercising privileged positions. Even so, this looks to have created a window of short duration for retail investors to get in cheaply. Two sides of the same coin? VP

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Comment by bull_runz on Apr 14, 2021 10:22am

I bet Quinton is buying something strategic with the money :)

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Comment by TXRogers on Apr 14, 2021 10:25am

Somehow, I doubt that. Tx

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Comment by HuberPeter on Apr 14, 2021 10:49am

It's really a pity after promoting that recovery works excellent and everything is going smoothly. Then the 'backup' of sprott. Looks like sprott didn't provide more money after seeing ramp up phase; then the joke with the reason of drawing 5m of the sprott facility because of the change of the blue spec payment conditions. grade problem is the most likely reason. PP price und ...more

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