Novo Resources Corp T.NVO

Comparison with DeGrey

[GildedWillie1]

While AuInvestor likens Novo to DeGrey, it misses many important points. Like DeGrey leases are pegged out along a 150 km major crust deep shear zone that has been around since the Archean era and it a conduit to lots of mineralisation and intrusion.  Novo on the other hand is pegged out on erroded areas generally away from faults/shears because it was based on the discredited witts theory around alluvial transport into conglomerate.  DEGREY  also did a a massive 20 to 1 consolidation a few years ago when it ran out of  funds and support. So it's success really depends when you bought into its story. Despite that, now the false witts story and focus is over, Novo still has some good prospects  , Becher included, as well as real geologists for once.  Actually DeGrey held some of that historically as well from memory and did some drilling there over 15 years ago. So when Novo does a consolidation  , or gets to 2.5c a share , it might approach the value in MC that DeGrey was before its luck changed. But the Mill is just an albatross now. Unless high grade, low sulphur gold is found nearby,  it's just a long term loss in maintenance costs. There is a nearby new mill (BEING FED IN PART FROM A MINE THAT  NOVO SOLD IT after inheriting it feom Millenium!) that is properly set up to deal with sulphide ore that will otherwise out compete the  Golden Eagle mill anyway making it redundant to any regional discoveries. Buyer beware .. do your research

[ValuePro]

"So it's success really depends when you bought into its story." That is true of any investment.  What's important are the market conditions within the market segment and the current news flow.   "Novo on the other hand is pegged out on erroded areas generally away from faults/shears because it was based on the discredited witts theory around alluvial transport

[GildedWillie1]

Hey VP. It's unknown if there are the right intrusives in Becher, but certainly that's what Novo is now sensibly looking for. There was historically some mugget gold in the area, that at some stage had to errode from intrusive lodes, so there's a chance that the  source rocks are still there somewhere and Novo might find them. Just like Deg are searching to the north of there on

[GildedWillie1]

Oh, and not suggesting that the new Novo crew are doing anything other than serious searching for new intrusive gold. They know that the conglomerate story was just bullshit as they say up that way, and now have a serious geological approach to exploration using the  funds remaining,  which is still substantial if they could only get rid of the Mill 

[ValuePro]

You wrote: "Novo on the other hand is pegged out on erroded areas generally away from faults/shears because it was based on the discredited witts theory around alluvial transport into conglomerate." I asked:  "How do you know this?  Are you saying that the company is mistakenly (or fraudulently) pursuing oxide gold when DeGrey is focused on intrusives?  Are there no

[GildedWillie1]

Umm VP, my respose covered intrusives, which may well be there, but maybe not. Worth looking for, for sure.  I'm not sure you mean by oxide gold in this context? Many intrusives will have a weathered oxide component above the main body. But I think you mean free gold as in alluvial or colluvial gold as in conglomerate gold, Witts style? In which case, yes, their own efforts showed what

[ValuePro]

Your responses are compelling, and you are knowledgeable about exploration.  Still, I find your postings creatively slanted.