Company Updates From Management – Fri 26 Oct, 2018

Novo Resource – More Information On The Comet Well Bulk Sample Results

If you missed the news that Novo put out today on the much anticipated bulk samples from Comet Well. Quinton Hennigh joins me to outline the overall sampling process and the next steps to move towards test mining. We also discuss some of the comparisons being made to the Witwatersrand. An update on the next steps at the newly acquired Egina Property is shared at the end of the interview.

Quinton and I will be chatting again in a couple weeks to address a number of questions that I have received. Please keep those questions coming –

Click download link to listen on this device: Download Show

Click here to read the full new release on the bulk samples.

Quinton HennighCory Fleck

  1. On October 26, 2018 at 12:24 pm,
    Charles says:

    Thanks Cory for bringing Quinton on the show to discuss the new bulk sample results.

  2. On October 26, 2018 at 12:30 pm,
    Joel Lovingfoss says:

    Thank you for the opportunity to ask questions. I view the report as bullish in that the LCC and UCC Cores ranging from 1.22 – 10.4 gpt average about 3 gpt which in my view is not bad given the LCC continues into the basin and may open up to the east and given that the UCC open at both ends and into the basin appears to be related to the Purdy’s Reward conglomerate of which only 3.6 km has been tested. I understand that today’s NR points to an important step to acquire the mineralization report to get the exploration license and then the mining lease.

    Question: Do you think that there’s enough data to secure the mineralization report? And if so, how long does it take to to get the exploration license leading to the mining lease?

    Once the mining lease is secured, would it take 6 months, a year or longer to begin trial mining?

    Question: Concerning trial mining to begin in March/April 2019, if everything goes as planned, approximately how long would it take before the first results begin to come from the lab? 6 months or more from April 2019?

    Finally, if everything goes as planned, would Comet Well be mined at the same time as Egina?

    Thank you for any light you can shed on this process and timeline!

  3. On October 26, 2018 at 12:34 pm,
    Charles says:

    The below article from thehedgelesshorseman about Novo is really good. I posted it a few days ago, but I am posting it again given this interview. In the article one of the considerations is the fact that Beaton’s Creek is a forgotten asset in terms of the valuation of the company and how a spinoff of this asset would really unlock a lot of value and send the stock price flying. There is a lot more good general information in the article (its fairly long, but worth reading).

    Cory, next time you have Quinton on, please ask him about Beaton’s Creek and what the long range plans are for the asset.

  4. On October 26, 2018 at 12:51 pm,
    Bonzo Barzini says:

    Thanks, Cory. I bought more this morning at 1.81

  5. On October 26, 2018 at 1:08 pm,
    Bonzo Barzini says:

    I believe that the Pilbara will be bigger and beter than Bre-X

    • On October 26, 2018 at 1:13 pm,
      Matthew says:

      We should hope so!

    • On October 26, 2018 at 1:37 pm,
      Charles says:

      I just gave you my thoughts about the price levels to watch in the comments under the last interview (Craig Hempke?) in case you are interested. am holding shares from back when it was 50 cents. Fortunately I sold have my position when it was up 200 percent. Unfortunately I rode the rest down to the current level so we have something in common. Ouch!