Novo Resources Corp T.NVO

Yes WG

[BocaneerIsland]

Ignore anyone who questions. And lose all your wife's money.

@WisGuy1 @Eginaswale IMHO, it's best to put @Islandlogger on ignore/ block .


Bucc

[oldfx1]

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[BetontheFed1]

Another day with no news.  Sigh.  Looks like no news until their forced to issue quarterly results next month. 

[BetontheFed1]

They have to sell over 5,000 ounces of gold per month to break even if they're spending $12 mm (A) per month.  Production is running less than that surely with all the ramp-up problems.  If their losing $6 million per month the recent rasie will last less than 4 months.  Could be another pp in the next few months.

[Armonica]

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[oldfx1]

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[BetontheFed1]

QH says they can do 1.9 mm tons per annum.   5,200 tons per day.  They need a recovery grade of  around 1 gpt to break even.  They should be able to do that eventually, maybe.

[Armonica]

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[BetontheFed1]

If the dilution is 30%, they need 1.6 gpt to break even.

[Armonica]

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[BetontheFed1]

The strip ratio in the PEA is 8.43 to 1.  With multiple mineralized layers its hard to get a handle on how much dirt they have to move but if there's 2 layers at 1.5 meters in thickness then they have to move 17 meters of dirt to get at the gold.  Sure be nice to have a FS instead of a PEA.

[Armonica]

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[BetontheFed1]

The following is from a 16 Sept; 2016 news release on bulk mining at BC.  Please note that the strip ratio was 2.5 to 1 and the cost to deliver a ton of ore to the crusher was less than $10 per ton.  What we don't know is how much the costs increase with a strip ratio of 8.43 to 1 and the cost of trucking the ore to the mill::   Results of Bulk Sampling

[BetontheFed1]

Dilution was listed at 10%.  Who believes that?

[Armonica]

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[BetontheFed1]

Note actual dilution results of 20 to 30%:  VANCOUVER, BC / TheNewswire / January 10, 2017 - Novo Resources Corp. ("Novo" or the "Company") (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce results from bulk sample processing at its 100% controlled Beatons Creek gold project, Western Australia. In 2016. The resource block model of the