Company Updates From Management – Thu 18 Feb, 2021

Novo Resources – A discussion on the first gold pour from Beatons Creek

Quinton Hennigh, President and Chairman of Novo Resources (TSX:NVO – OTCQX:NSRPF) joins me to discuss the initial gold pour from the Beatons Creek Project. This gold pour is coming in under 6 months from the acquisition on Millennium Minerals and the Mill. We discuss project throughput at the mill and where future growth will come from. This ties into a discussion on the Karratha Property and the move toward test mining there.

I still have a couple questions saved up from all your emails but please keep them coming. I wanted to keep this interview focused on the production aspect of the Company. My email address is Fleck@kereport.com.

Click here to read over the recent news highlighting the gold pour.


Comments:
  1. On February 18, 2021 at 12:50 pm,
    bonzo says:

    Hooray for QH, BM, and Novo. Now they have cash flow to explore and find Witts2 under their 14000 sq km. I don’t like the looks of the chart but I ain’t selling.

    • On February 18, 2021 at 1:47 pm,
      Jay Linn says:

      Actually the chart looks great to me. Novo may be forming a long term basing patterns, inverse head and shoulder, larger bowl shaped bottom, etc. I am not selling even a share! I am happy to be a long term investor in Novo. If NSRPF goes above $3, anything is possible to the upside.

      • On February 18, 2021 at 4:31 pm,
        RICHARD/DOC says:

        Jay, very astute. NSRPF appears to be topping again and rolling over. The monthly chart is a thing of beauty—-it’s forming a beautiful inverse head/shoulders. Everytime the stock hits 2 or below I add to my position. https://schrts.co/yAVXnDVX

    • On February 18, 2021 at 11:16 pm,
      Sach says:

      >> Now they have cash flow to explore…<<

      Do they? How do you know? Have you seen ANY projected cash flow statement for the mine or highlights of a detailed operating projection released by management? If so, please share? If not, why isn't this information being shared with shareholders? I can't seem to find it.

      IMHO, mining companies and explorers are mostly brain dead when it comes to financial management. Don't believe me? Look at the "financial impatience" of Kirkland Lake in selling ALL of its shares in Novo. Look at the ineptness of the previous management of the Beaton's Creek $100 million dollar mine.

      I will not invest one more dollar in Novo until a financial projection for the mine is shared with shareholders. I want Novo to be more financially competent than nearly everyone else in the industry, which isn't hard to do since most junior minors apparently have never mastered 6th grade math.

  2. On February 18, 2021 at 2:41 pm,
    Mike in Albuquerque says:

    I have a nice Novo position I bought a while ago but wonder about buying more for my and a friends account. This is a big step forward for this company and I’m looking forward to news. The penny stock time for this company is over.

  3. On February 18, 2021 at 3:00 pm,
    Excelsior says:

    A big congratulations to Quinton and the Novo Resources team on first gold pour.

    That is quite an achievement, and something 99% of gold juniors will never achieve.

    Now, where are all those Novo haters that repeatedly told us they’d never get into production or the NVO was a “scam”? (gone on the hot air they sailed in on….) 🙂

    What is the most exciting is that now with the revenues that will come in from Beaton’s Creek, they can work on exploring and developing their other projects like Egina, and Comet Well/ Purdy’s reward, and with the assistance of ore sorting, take things to the next level.

    • On February 18, 2021 at 6:03 pm,
      OOTB Jerry says:

      One must thank Bobby M…..for introducing Novo….. I THINK…..JMO

      • On February 18, 2021 at 8:51 pm,
        Excelsior says:

        Agreed. OOTB. It was because of Jay T. and Bob M. that I first heard of Novo resources, back in 2015. Bob’s recent book also helped educate a number of new Novo investors.

      • On February 19, 2021 at 6:16 am,
        David says:

        I bought my first Novo after a Bob M post. My initial average cost was around the low .40s. Then I moved to the low .70s. Didn’t hold those, but I am at a break even with those I own now. So I am ready to go.

  4. On February 18, 2021 at 4:46 pm,
    Champuga says:

    I see a gap on NOVO’s chart at 2.12-2.14 – probably fill that gap before moving higher. People might also use $2 as a natural stop, which will make the pros try to push it below that to shake people out. Long-term there’s no reason why it won’t test all time highs especially if they can in fact avoid further dilution.

    • On February 18, 2021 at 11:45 pm,
      Sach says:

      IMHO, the market makers churn the stock in the USD $2.40 to USD $2.68 range and wait for any unusual, large selling blocks to materialize. Why? Because there are a substantial amount of new shareholders that purchased at the last offering and those shareholders might want to get out at break-even to pursue other “hot” stock transactions. I call it Financial Impatience.

      I hope Novo’s stock performance will be different than Pure Gold after its first pour. I think (not sure) Pure Gold’s stock is performing poorly because their mine will need quite a few months to get to volume production. As for Novo, they appear ready to “hit the ground running”.

      • On February 19, 2021 at 1:13 am,
        Dick Tracy says:

        Hi Sach, I was thinking along similar lines about Pure Gold Mining, I’m out for now but will get back in soon if gold holds. DT

  5. On February 18, 2021 at 4:49 pm,
    Champuga says:

    Does anyone own NuLegacy on here? Another meh result this evening. I hope the market doesn’t over-react though. Still along way to go with this one but it should be proved out this year at least.

    • On February 18, 2021 at 4:53 pm,
      RICHARD/DOC says:

      C; I own a boatload of Nulegacy.

      • On February 18, 2021 at 5:14 pm,
        Champuga says:

        Hi Doc – I do as well – I guess we just have to be patient on it. With all those shares outstanding, everyone who knows anything about gold probably owns a few shares.

      • On February 18, 2021 at 7:02 pm,
        bonzo says:

        I also own a big wad of NULGF. Quinton says anyone who sells now is like someone who leaves a baseball game in the 2nd inning just because his team has not scored.

    • On February 19, 2021 at 6:19 am,
      David says:

      I still own Nulegacy but not as much as one time. Just watching it and waiting for a hit.

  6. On February 18, 2021 at 5:16 pm,
    David says:

    About the only thing positive is the dollar. And that would be why…? If we find out, will there be any more prisoners amywhere?

  7. On February 18, 2021 at 7:15 pm,
    Dick Tracy says:

    If Novo does start to correct and head back down, I won’t wait and hold what I already have, I will sell in a flash and wait for lower prices. I have played this game long enough to know that gold stocks can correct to the downside very quickly when the POG tests support. Buy and hold rarely has a successful outcome compared to in and out and back in again. DT

    • On February 18, 2021 at 7:22 pm,
      Dick Tracy says:

      Especially after the first gold pour, I am still waiting to get back into Pure Gold. DT

      • On February 19, 2021 at 10:58 am,
        David says:

        DT:
        Good move on exiting Pure Gold at the top. I took profits until I was left with half…and it has just been staring at me.

    • On February 19, 2021 at 5:05 am,
      OOTB Jerry says:

      Great comment….jmo

    • On February 19, 2021 at 7:20 am,
      Glenfidish says:

      +1

  8. On February 18, 2021 at 9:22 pm,
    cfs says:
  9. On February 19, 2021 at 1:02 am,
    Dick Tracy says:

    It looks like Gold has looked over the edge and just might hold and start to trend up again, everything is crossed, we shall see in the morning, here’s hoping! DT

  10. On February 19, 2021 at 6:14 am,
    cfs says:

    Fokus Mining drills 120.3 m of 1.12 g/t Au at Galloway
    2021-02-19 08:27 ET – News Release
    Mr. Jean Rainville reports
    FOKUS MINING INTERSECTED 120.30 METERS AT 1.12 G/T AU INCLUDED IN A BROADER SEGMENT THAT RETURNED 367.45 METERS AT 0.72 G/T AU ON HENDRICK ZONE, GALLOWAY, QUEBEC

  11. On February 19, 2021 at 6:17 am,
    cfs says:

    Granada drills four m of 107.8 g/t Au at Granada
    2021-02-19 07:52 ET – News Release
    Mr. Frank Basa reports
    GRANADA HITS 107.8 G/T GOLD OVER 4 METERS INCLUDING MULTIPLE HIGH-GRADE VEINS AT DEPTH
    Granada Gold Mine Inc. has released additional high-grade gold results from its continuing drill program at Granada,Que.

    • On February 19, 2021 at 7:32 am,
      Glenfidish says:

      Gold Morning Update!

      I think it’s extremely important that we can all sense we are getting closer or we are close! I listened to Gary’s video last night and I could not disagree anymore with his assessment of another 10 weeks for a cycle low. I honestly think this is another one of those times he has his cycle mistaken. The intermediate cycle has not ended and is in a 6 month and counting downward pattern.. For the record it is still not the longest in history.

      Me and doc have been saying the same thing for sometime that gold is headed lower. The miners are getting whacked and they will get whacked next week even more. The blood bath phase. I have no doubt whatsoever as my pattern is bang on until it fails.

      So gold won’t and should head higher today then that $1791 it out in maybe another dollar or so above it but that’s it.. Even with this mini fake out bounce the miners across the board are heading lower except for a few and that will always be the case. I’m talking grander scale gdx and all mining indices majority are heading down.. and will continue to do so..

      There is one thing that I differ then doc and I have mentioned it to Cory and Matthews advice the other day regarding if we do head lower it will be a quick reversal can’t see it hanging down there is 100% spot on and I hope he still has that mindset.

      My pattern is sweating gold price low next week and intermediate cycle low next week! You heard it here first and if this plays out, please give me a
      Holla lol..

      I believe Monday will see possibly another mini pop or not but make no mistake Monday Tuesday or Wednesday will produce the low and blood bath phase with a massive reversal on Thursday and Friday mini red candle close for a mi they red candle close..

      Good luck and get ready to buy I see this in the final week before the end to this carnage..

      Cory I hope your listening and Doc double check your charts as I don’t see another 2 months for a low.. If I’m wrong I can live with it and wait it out.

      Glen

      • On February 19, 2021 at 10:16 am,
        OOTB Jerry says:

        Glen,
        Thanks for the update…keep up the good work!

  12. On February 19, 2021 at 8:45 am,
    confused says:

    GLEN,
    My 35+ year veteran TA guy who I follow……got 100% out of PM’s near the last week of January…before the Reddit B.S….now he is saying that we are
    close to a “potential-bottom” and we can start putting our fishing lines back in the water during this low…but for the record he is NOT doing any fishing this week or probably next. He is concerned of a longer issue which could see another 6 month or more or even a longer draw-down altogether in the PM space. He plays all markets with caution, but strikes hard when the charts allow. Until he sees these “dark-clouds” dissipate….technically, it could be months until he returns to those waters. I hope this is not the case! At the end of January, he poured even more into the general markets like bio-tec 3x, oils 2x leveraged and 3 x retails….and Palladium/Platinums. He is NOT a “paper” or “gold bug”, but makes money everywhere he sees an opportunity. For now it is not in the PM’s. Doc could be right on this. However, Matt’s bets looks good too. It is not easy playing this game; especially with excellent TA folks on either side of the bets. What is a little Turkey to do!?? 🙂

    • On February 19, 2021 at 10:19 am,
      Matthew says:

      Confused, we did not get the action that I was looking for to sustain my “outright bullish” view of just a couple weeks ago but I am still tilted in favor of a low here or very near. I get the feeling the sector is getting seriously wrung of weak hands despite the lack of gold plunging below the November low. If that’s the case, such anticipatory selling just might forestall that plunge or cause the miners to bottom well ahead of gold should the plunge still happen.

      I do not think Doc will be right about the miners even if gold does perform relatively poorly for an extended period. Gold is plenty high enough (with room to spare) to allow for the miners, especially the juniors/explorers, to have a very good time. Big/smart money knows that gold’s elevated price is secure and not going anywhere so 1600/1700 gold will be seen as a floor rather than part of a fleeting high that would cause fear and more selling in the miners.

      Still, Doc’s odds of being right are much better now than they were at the crash lows last March. It seems Doc is more of a deflationist than he lets on. As silver hit its lowest level versus gold in at least a century, he preferred gold and the big gold producers. He wrongly thought that the Fed was “impotent” and out of bullets so silver and the explorers would have a long, hard time recovering and so would the stock market. He thought that any possible “V” bottom would be a small one that would only lead to a low, slow recovery.
      At the same time, I saw the opposite and was very bullish silver and the juniors right at the lows and stated that we could get a big V bottom that was even quicker/sharper than the one we saw in 2008. And it was, big time.

      On March 16, 2020 at 4:06 pm,
      Matthew says:
      The action today goes with what I said on Saturday (before the Fed announcement):

      On March 14, 2020 at 1:15 pm,
      Matthew says:
      The positive thing about the collapse in the miners is that it was due to a general market panic. So any psychological relief has a higher probability of resulting in a snap-back move like we had in 2008 — and possibly better since the fundamentals are much better now

      On March 16, 2020 at 8:30 pm,
      Matthew says:
      If gold continues to levitate versus silver for a little while longer, it will probably be because stocks continue to plunge. But once the crash phase of this young stock bear is over, I expect gold to fall hard versus silver (and the miners, of course). We’re very close…
      — — —

      And that’s what did happen. Gold CRASHED versus silver and the junior miners smoked the seniors.
      http://www.kereport.com/2020/03/16/do-technicals-even-matter-in-these-fear-driven-markets/

      • On February 19, 2021 at 11:43 am,
        OOTB Jerry says:

        Some nice history in that post…. 🙂

        • On February 19, 2021 at 11:52 am,
          OOTB Jerry says:

          Ex…..quoted…….that day…..”Now Gold is back at $1540 and Silver is just a few clicks away from $13.”

          • On February 19, 2021 at 11:54 am,
            OOTB Jerry says:

            Matthew, thanks for posting the review……

          • On February 20, 2021 at 10:47 am,
            Matthew says:

            🙂👍

      • On February 19, 2021 at 5:41 pm,
        confused says:

        Matt,
        as always, I really appreciate your qualified thoughts on these matters. There is a lot of complexity in aIl scenarios (even the one we can’t anticipate!) I hope you are right and resume the climb of that “wall of worry” that the general markets have completely forgotten. It is in a manic phase that now relies 80+% on the “FED Printing” and 20% on forgetting the history of debt…..I wonder why gold has taken so so much time with a backdrop like that? Should be north of $3000+++ by now. This is psychological warfare! I sometimes wonder that gold is ahead of the next general market correction by a couple of months. If the markets get hit, gold won’t go down any more from here and a firm decoupling asserts itself.

        • On February 20, 2021 at 10:46 am,
          Matthew says:

          I agree completely that gold won’t go down when the markets get hit. The same goes for the miners. For many years I have showed that the stock market and mining stocks trend opposite one another most of the time yet the myth persists that pressure on stocks equals pressure on the gold miners. Nothing could be further from the truth and now is not going to be the exception. Here’s GDX priced in DIA:
          https://stockcharts.com/h-sc/ui?s=GDX%3ADIA&p=D&yr=1&mn=11&dy=0&id=p83901610159&a=699627862

  13. On February 20, 2021 at 11:18 am,
    confused says:

    Matt, Now that is a promising notion!!

    • On February 20, 2021 at 11:44 am,
      Matthew says:

      Take a look at the action from 2000 to 2003. The HUI went from a low of about 36 to a high of 148 in that time while the Dow went from 11,000+ to 7,600:
      https://stockcharts.com/h-sc/ui?s=%24HUI&p=D&st=2000-06-30&en=2002-09-30&id=p04163656137&a=507999498

      The risk to our miners is not falling stocks but crashing stocks. Even days that look like mini crashes can negatively affect our miners but they will come right back while the stock market continues lower. So we can see single days in which correlation is high but that won’t alter our very different destination, as the chart above shows.