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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Novo Resources Corp > WG and the mill

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Post by mortgages101 on Jul 10, 2023 7:11pm

WG and the mill

Mike was on Jay Taylor pretty much saying they will be getting ride of the mill as it's a a money pit and they can't produce economical gold, They've spent to date about $250M on it to date which is 4x the current market cap. Two question Wisguy: 1) can they get $25M for it ? 2) who's brilliant ideas was it to purchase that thing?

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Comment by GildedWillie1 on Jul 11, 2023 12:24am

Yes at least he's honest! Really there are two choices for Novo, invest around $200-250 million to upgrade the mill with an oxidation plant to treat the sulphide ores that are the predominant gold source in the region, or hope to be able to give the mill away to a taker who will also be ok with taking over the environmental liabilities. If it was the latter option, Calidus Resources might be ...more

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Novo Resources Corp