Novo Resources Corp T.NVO

New Press Release - Novo Resources: Drilling Underway at Highly Prospective Becher Project

HIGHLIGHTS +20,000 m aircore (“AC”) drilling program underway in the northern Egina Gold Camp at Novo’s flagship Becher Project, located in the Pilbara, Western Australia.Becher is situated adjacent to De Grey Mining Limited’s 10.6 Moz Au (JORC 2012)1 Mallina Gold Project and 2.5 km south of...read article.

[Perambulator]

If Becher is Novos "flagship project", can anyone explain why this minor junior explorer could possibly have a market cap of $75m given they have a rehabilitation obligation of $30-40m?

[GildedWillie1]

Fascinating isn't it! Perhaps someone values the Mill at Nullagine , but as they have clearly given up on exploration in that area , even for the real gold in ore bodies rather than the conglomerate wet dream,  the mill has negative value rather than positive.  Because all the real ore in the region is refractory, needing POX, a technology well beyond the budget and capacity of NOVO.