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Bullboard - Stock Discussion Forum Novo Resources Corp T.NVO

Alternate Symbol(s):  NSRPF

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

TSX:NVO - Post Discussion

Novo Resources Corp > Beatons Creek Gold Project was Earned
View:
Post by Mineshack on Aug 08, 2022 1:49pm

Beatons Creek Gold Project was Earned

I have two points to make for anyone new to Novo Resources Corp. or this forum.
 
First, the following details are excerpts from past news releases that may be reviewed on Novo's website.


  • In March of 2020 when Novo announced the issue of 6,944,444 common shares in exchange for 15,000,000 common shares of New Found Gold Corp., Dr. Quinton Hennigh explained at the time that Novo's board agreed the deal was good for its shareholders.
 
  • August 4, 2020, Novo announced a signed agreement to acquire all the outstanding shares of privately held Millennium and its Beatons Creek conglomerate gold project to accelerate Novo’s planned transition to a producing gold company.
 
  • In September of 2020, the Company announced that it closed the initial tranche of its $60 million four-year credit facility (the “Sprott Facility”)
 
  • Today, August 8, 2022 Novo advised it has closed the sale of New Found Gold Corp shares for total gross proceeds of approximately C$125.9 million and its intention to pay-off the Sprott Facility.
 

The investment actions of Dr. Hennigh and the directors largely earned Novo its Beatons Creek conglomerate gold project.

After being locked-out of Australia for over two years, Dr. Hennigh returned there this past weekend. Look forward to his direct, hands-on influence and interview updates in the near future.
 

And my last point for those who may not already know, investors visiting this discussion should be warned about the multiple user names one basher tools to disrupt our conversation and dominate the board with offensive attacks. We can't always recognize a good post by the number of likes because that person likes itself. This miserable individual's time is cheap and the ignore option is very applicable.
 

Good luck to everyone else though.
 

Nullagine Gold Project
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Comment by BillieBass on Aug 08, 2022 2:10pm
This post has been removed in accordance with Community Policy
Comment by PeterThomas on Aug 08, 2022 2:15pm
Novo and QH both frauds.
Comment by BillieBass on Aug 08, 2022 2:37pm
This post has been removed in accordance with Community Policy
Comment by likeike on Aug 08, 2022 4:06pm
Good post Mineshack ....think you hit the only points you need to know before  getting into a very complicated story with so many sidebars. IKE
Comment by mortgages101 on Aug 08, 2022 6:03pm
Mineshaft correct novo made $125M less taxes for the NFG sale in exchange for novo shares which are rather worthless to NFG. Good deal for one not for the other. Problem is they spent $300M around BC only to put it on care and maintenance so any gain on the NFG transaction was swallowed by the loss at BC. 
Comment by PeterThomas on Aug 08, 2022 10:29pm
What about that midnight video.  Faked ?
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