Novo Resources – Exclusive details on the plans at the Karratha Gold Property
Novo Resources continues to draw attention from investors thanks to its Karratha Gold Project. I had the chance to chat with Quinton Hennigh (Chairman and President) and Rob Humphryson (CEO) to discuss the plans in Karratha. We look at the type of drilling they will be undertaking as well as the strategy behind staking and acquiring the large land position in the area.
I am a shareholder and plan to hold my shares as the exploration progresses. Even though I expect some weakness just after Labor Day due to the new free trading shares from the financing in early May I am still confident about the potential for the project.
If you have any follow up questions for Quinton or Rob please comment below or email me directly at Fleck@kereport.com.
Click here to visit the Novo website.
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ASCOT RESOURCES INTERSECTS 321.00 G/T AU OVER 2.50 METERS IN THE NEW HIGHGRADE SUBZONE AT NORTHERN LIGHTS
Ascot Resources Ltd. has released new drill results for the Premier property. The property covers more than 100 square kilometres near the town of Stewart in northwest British Columbia, and includes the old Premier mine, a past producer of 2.1 million ounces of gold and 44.9 million ounces of silver.
Spooky news from the Charles Nenner research group.
Cummins Unveils Next Generation of Energy-Diverse Products and Technology Solutions
(BUSINESS WIRE)–Aug. 29, 2017
http://investor.cummins.com/phoenix.zhtml?c=112916&p=irol-newsArticle&ID=2297183
Santacruz Silver Reports Second Quarter Financial Results
August 30, 2017
* Outlook
“During the first half of 2017 management continued with its key objective of de-risking the Company’s operations by assigning/selling the Company’s interest in the Gavilanes Property, the San Felipe Project and the El Gachi Property. The gross proceeds realized from these transactions, inclusive of the applicable IVA payments, amounted to $19,140 of which approximately $7,357 was paid to JMET, LLC to settle in full the amount owing to them. In addition the Company made payments, inclusive of IVA, to the underlying vendors of the properties, of $3,480, with the residual funds retained for working capital purposes. ”
“Further, in May the Company entered into the Membrillo Agreement pursuant to which it acquired the Exclusive Mining Right to explore, develop and mine the Membrillo Vein. This transaction will provide further diversification of mineralized feed to the Rosario Project’s mill thereby providing management much greater flexibility in developing and executing its operations plan at its Rosario Project. The Company expects that once full mining operations are achieved at the Membrillo Vein the combined daily production from the Membrillo Vein and the Cinco Estrellas Property will range from 450 to 500 tpd with an additional 100 to 150 tpd of mineralized material being delivered to the Rosario Project mill facility from the Rosario Mine. ”
“The Company’s focus for the duration of 2017 will be to continue the systematic improvement and production increase of mining and milling operations at the Veta Grande Project and Rosario Project. ”
http://www.santacruzsilver.com/s/news_releases.asp?ReportID=801419
MARMAR & $MXSG MEXUS OPERATION (START UP)
On July 30th the operation was checking with different flows in order to assure do not have any problem with the columns and and finally we are operating with 4 m3 /Hr.
– Also, it was placed mesh in the discharge of the columns to avoid the loss of the Charcoal, and the next day the operation was estabilized.
OPERATION (START UP CONDITIONS)
• Pregnant Solution (pond) 1,288 m3
• Cyanide 800 PPM • PH 11 • Barren 500m3 • Cyanide 700 PPM • PH 11
• 3 Activated Charcoal Column System (ADR) • 300 kg activated Charcoal Column each one( total 900kg)
• Flow 4 m3 /hr • Assays of head and tail
>> NEXT STEPS
* Will be increased more Activated Charcoal Columns and implemented a system of filtration in order to increase the flow from 4 m3 / hr to 20 m3 / hr .
* The irrigation process will be reactivated includes the extension of the leaching pad
* Complete the 38,000 tons carrying material from Julio to the leaching pad assuring high values
* Build and implement the electrolysis process (working on that) • Will be evaluated if the Merrill Crowe process can be reactivated in parallel or just Works with Activated Charcoal Column System (ADR)
* Will be installed a filter between the leaching pad and pregnant pond in order to avoid Clay on pregnant solution and saturation in the Charcoal
http://mexusgoldus.com/wp-content/uploads/Santa-Elena-Report-05082017.pdf
Mexus is a strange case. I wonder when the heck they will get going. Could easily move 10 x in no time. Just the thing that nothing happens in that regard. Oh well, maybe next week. .-)
I agree, that it is weird how hard Mexus has sold off, but it isn’t too surprising considering they are just going through the normal ramp up issues getting into commercial production. They’ve loaded the leach pads now though and will be mostly done once they get that 38,000 tons of material from Julio loaded as well. They are just tweaking the process with those carbon filters to remove the clay and other impurities before the solution pond.
Their goal was to have this producing more in Q1 and Q2, but they decided to slow down before they sped up to get it right and get better metals recovery. I’m fine with waiting for the best economic solution, so that they are able to keep their cost in line with expectations.
In the meantime, the stock is super cheap at these levels, and even though I’ve had a free ride position since the end of last year, I’ve recently been adding a bit more to my MXSG position over the last 2 months with some of the profits peeled off other trades.
I do expect MXSG to easily go up 10x from here as you mentioned Ulf.
Hope you are right, Excelsior. I still don’t understand what is taking so long as it has sort of been presented as “minor” issues. And the CEO said production and sales of gold was imminent. Sure hope it won’t be ages of continuous hiccups. Hard to understand the information given. If they can crank out the gold at such low costs, it simply MUST go to the moon. I just would like to get some kind of update on what is left to do and the time it will take. Paranoia is a good friend to have in this business 🙂 If you hear any whispers of what is going on, please feel free to write a post. Have bet the farm on Mexus and Theralase, so I’d like at least one of them to do well. It looked so good for Mexus in December and then nothing happened. And the share price imploded back. Hopefully, not much is left to do before everything finally starts. That $1/share is something I’d like to see.
best regards
Anyone have thoughts or comments about that osisko financing being upped to with an additional 7M + of shares at $4.20???
I did not like the pricing of the second tranche. It stinks of a deal with brokers or insiders.
Thanks. Agreed. When Auryn did their deal with goldcorp and even bonterra which is in same area as osisko they did things at a premium
Is anyone watching Macarthur minerals MMSDF. They have lots of land in the area near Vovo. They have iron and have found some gold and copper. I have been watching them on Stockhouse and they are excited about them.
I noticed every time there is an interview with Quinton Hennigh everyone loads up the comment section with info about other miners other than Novo. Are any of you paid or is this intentional for some other reason.
no David I am not paid by anyone i donot own any of their stock and i am a old man and they are out of my time frame. i looked at them after looking at a stock I own. i went to their web site and saw they was in the same area and same country. They could be the next NOVO maybe so maybe not. i have them on my watch list with many more. May someday buy a few shares for my grand kids.
Thanks. That is useful information on point.
PREMIER GOLD UPDATES HASAGA RED LAKE DRILL RESULTS
Premier Gold Mines Ltd. is providing an update on the 2017 drilling program at the company’s 100-per-cent-owned Hasaga project in the Red Lake gold mining district of Northwestern Ontario. The program is targeting potential higher-grade mineralization along the Hasaga porphyry trend at depth, proximal to historic results and includes wedged holes from historic drill sites.
Selected drill hole highlights include:
HMP 161 with 1.21 grams per tonne gold across 181.0 metres from 998.0 m, including 2.14 g/t Au across 19.0 m and 2.21 g/t Au across 18.0 m down plunge from the Hasaga porphyry open-pit deposit;
HMP 162 with 9.55 g/t Au across 8.0 m from 799.0 m in a new target west of the Hasaga zone.