Novo Resources – Answering Your Questions On Operations, Management Changes and Selling Of New Found Shares
Mike Spreadborough, Executive Co-Chairman and acting CEO of Novo Resources (TSX:NVO – OTCQX:NSRPF) joins me to recap four recent news releases encompassing operational results for Fiscal 2021 and Q1 2022, management changes and the sale of New Found shares for C$125.9million.
Starting with the Fiscal 2021 financial results we focus on the production costs that remain elevated. We look ahead to what will help bring down those costs as the Company transitions into mining the fresh ore.
We then move to the selling of New Found shares for C$125.9million. The focus is on the cash in the Company and paying down the current debt. Plus building cash for the continued drill program across a number of the Company’s assets.
Finally we discuss the management change with Rob Humphryson leaving his roll as the CEO. We discuss who will take over his rolls on the production front and with ore sorting.
If you have any follow up questions please email me at Fleck@kereport.com.