Novo Resources – Operation updates from Beaton’s Creek and the bigger exploration plans for the Karratha area
Quinton Hennigh, President and Chairman of Novo Resources (TSX:NVO – OTCQX:NSRPF) joins me for an update focused mostly on the production results from Beaton’s Creek and to answer some of your questions both on production and future exploration outside the Beaton’s Creek Project. We discuss the growth in production, grade dilution, and positive cash flow achieved in May and June.
Please keep sending me your questions for Quinton. My email address is Fleck@kereport.com.
Click here to visit the Novo website and read over the recent news.
I’m losing confidence in NULGF bonzo – surely they have result from at least half the holes….the silence is deafening
Some questions on Novo –
Cashflow positive but what is the cost to mine? Did it decline month over month? I guess we have to wait for 10-Q.
Recoveries and throughput are strong but grades are well below PEA right now – sounds like it is going to improve with grade control though.
2mm tons of throughput per year would be great but really need to get that grade up to drive revenue growth too.
2mm tons at 95% recovery at 3-5gpt would be great assuming costs are driven down over time.
Mechanical bulk sample from Karratha – crushing, screening, sorting – how much materials can they take without drilling it all, getting a PEA done and permitting for a mine?
How many sorters do you need to make an impact on grade being mined?
Those look like reasonable questions. Maybe you could find some answers at their website since there is no response here.
I own some Nulegacy just in case but to be honest I don’t think they will ever announce a Elephant deposit. I’ve tried to keep positive for years only to be disappointed over and over, kind of like Peanuts and Lucy and the football.
Nulegacy is just a lot of hot air. Nothing will be found.
I could see NULGF putting out a press release selling the company for 0.075 a share on poor assay results, letting someone else spend money to try and find the hidden elephant.
I believe Novo is beginning to hit on all eight cylinders and feel confident in my investment in the company.
My question is more of a personable one for Quinton.
I’ve been a beer drinker from an early age(my mother was German).
Quinton has made reference to enjoying drinking beer. What is his favorite beers?
Thanks
Why is Novo not listing on the ASX? Research of the shareholders domicile would be interesting. My thesis is that most Canadians are bored with the Novo story. That was demonstrated with the cannabis legalisation when gold stocks dropped markedly, while the top 4 cannabis stocks were north of 40 billion. The are now sexier gold plays available in Canada such as New Found Gold. In fact Novo doesn’t even make the top 10 Canadian juniors based on capitalisation. Listing on the ASX provided a wider audience and Australian and New Zealand investors have easier access and tax advantages. It is a low risk/ high reward play that needs action. I have conveyed this to Leo previously but nothing happens. It’s time for Novo to wake up to the fact it’s basically an Australian company and act accordingly. End of rant. I’d love Bob Moriaty’s thoughts on this.
Thanks. Maybe Novo should buy NULGF before it finds a whale…