Comments on Novo and the Egina Project
Erik Wetterling joins me today for a discussion focused on Novo Resource’s Egina Property. Erik released an article today where he outlines a possible production scenario and breaks down different operating costs. This is just one of the many projects in Novo’s portfolio. We also discuss what news could drive Novo’s share price since it has been stuck in a range since late 2018.
Click here to read over the full article over at Erik’s site.
OMG Blonde BOZO now starts to attack his own flu dr. Fauchi . Our whole system of picking presidents [noninateing ] is very poor. Again 2 unpopular people are being offered by both partys . how about Amy Klobuchar versus Mark Cuban . Or maybee just pick the winners on Jeapordy Quiz show . Best of health and wealth to you all rsh
Just gotta share this comment I got on the article:
“”You are quite correct in your assessment. I worked for nine years as Metallurgical Manager then Assistant General Manager at CDM (Consolidated Diamond Mines now Namdeb) in then South West Africa (now Namibia) from 1975 to 1983. We mined the gravels along the coast from the Orange River up the coast for 100 kms. CDM was the flagship mine for De Beers and the ore body was similar, but not as easy to mine as Egina. Only projects that paid for themselves within a year were tackled.
Novo Resources has appealed to me for that reason, ever since I heard of it. I have acquired a large share-holding (for me) in the company because of that. We were one of the first mines, if not the first, to introduce X-ray machines to diamond recovery plants. These were later replaced by laser machines.””
Thanks Erik. I have held Novo since the 30 cent days. I have not added as been concentrating on Irving and Lion One thinking that they would move first. They all fell asleep. I blame algos and that is why I am still positive and looking forward to the future. I used to look forward to people in Banking going to jail but that has less chance of happening than QH ‘s stocks going higher.
Your Novo WILL go higher and probably soon. Considering the massive rise in 2017, the correction that followed looks perfectly normal and even good. Vertical moves tend to get fully retraced but NVO bullishly refused to fall the final 30%+ to get it done…
https://stockcharts.com/h-sc/ui?s=NVO.V&p=W&yr=3&mn=3&dy=0&id=p35530550300&a=754272588
Matthew:
Thank god :D. I’m loaded and ready but it has been somewhat of a torture to “see” all this potential, betting on it and talking about it while the SP has been dead for like two years. Thanks for your TA insights!
All the best
Matthew:
What he said!
Like so many miners right now, NVO has some short term technical headwinds but you have to like where it bottomed during today’s session.
The whole sector needs to finish the week with an extension of today’s action.
Good luck to us all!
https://stockcharts.com/h-sc/ui?s=NVO.V&p=D&yr=1&mn=1&dy=0&id=p39322706308&a=754293448
I envy your average David!
I suspected that too. This Corona thing surely didn’t help. IRV limited to one rig is frustrating given the amount and size of targets they got. Still think they will be taken over in the future. LIO not being able to drill as deep as they wanted was also frustrating but with PQ and 3 rigs getting mustered I think the second half of this year could get quite exciting since I think the market is just waiting for “proof of concept” before daring to discount the somewhat obvious blue sky potential.
Those are my core for better or for worse.
Cheers!
I hope they stagger their success so I can move things around for leverage. But, if they all move at once, I will suffer through it. Thanks for all you do with keeping up with QH. That must be quite an experience in and of itself.
I checked my average as I sold about a third over the years. It’s still around 75cents. I just haven’t added. Like I mentioned, hope it doesn’t run off. May have to rethink from what Matthew is saying.
Lets just say that a big portion of the day is spent on theorizing and piecing together Novo, no matter how hard I try to get another hobby hehe.
You’re very welcome and kudos for being able to sit still and let 2/3 ride from such low levels. Cheapest shares I ever got was around 0.70 and my average now is 3X that or more, but I ain’t complaining 😀
Spot on David……..The bankers are never going to jail…..
Someone said ….”never, say never”…….. 🙂
It’s ok to say never as no one is listening anyway. Never used to be that way.
Bankers jail never ! The Only Way Out !https://m.youtube.com/watch?v=GI7sBsBHdCk
In addition to its upper Bollinger Band and 50 EMA envelope, SLV managed to close above its post-crash high of exactly one month ago…
https://stockcharts.com/h-sc/ui?s=SLV&p=D&yr=1&mn=0&dy=0&id=p63844538325&a=754284629
Erik, I hope you have some silver stocks!
I still can’t get myself to buy most silver juniors. I have a bit of Orex, but that’s it :P. As soon as I feel like I’m straying away from value investing I immediately feel like I am full blown gambling… Probably because I am since my TA skills are poor at best lol. I do look at charts for my own amusement though but I’d rather trade on yours hehe.
With that said, maybe I should put on a silver trade hmmm…
All the best and thanks!
I understand and you are correct. My silver stocks are only bargains if I am right on the gamble that silver will be much higher in the future. But that’s where the explosive option-like moves come from.
Cheers! 🍻
Speaking of silver options, Impact and Kooteney and Brixton are looking pretting great!
Yes they are and I’ve been adding to all three lately, especially Brixton.
Today’s high happened right where it should have:
https://stockcharts.com/h-sc/ui?s=BBB.V&p=D&yr=1&mn=0&dy=0&id=p46804625161&a=642531471
I remember 2015/2016 when I had bought first Majestic around $4 and sold it around $5, and then just watching it go to $19. I had a simple spread sheet that said it was overvalued all the way up… Didn’t stop it at all lol.
Nothing runs like a silver junior when sentiment wills it as you say. Maybe I will put on a few silver “boosters” that I can hopefully just re-invest into value stocks later hmm!
I wish you had an email link on this website so that I could easily email articles like this one to friends who might be interested.
There will be rants!