Thoughts on the recent news out of Novo

December 5, 2019

Erik Wetterling joins me today to share his thoughts on the recent news out of Novo Resources regarding the finer grain gold results. We discuss the ore sorting progress and how this could be a game changer for the overall project economics. Erik and I are both shareholders of Novo but we are just sharing our thoughts on the recent developments that have been driving the stock higher.

Click here to visit Erik’s site – The Hedgeless Horseman.

    Dec 05, 2019 05:01 PM

    How many oz of gold is Novo sitting on— a billion? Why doesn’t Barrick or Newmont or Goldfields or Anglo buy Novo pronto?

      Dec 05, 2019 05:56 PM

      There’s no way to tell how much gold they are sitting on.
      They have a bunch of land in the middle of nowhere that has a few scattered nuggets in small patches.
      Huge risk with this company, nobody is buying them because there’s no way of telling what they’d be buying.

        Dec 06, 2019 06:17 AM

        One of your equally-obtuse ancestors probably said the same thing about the Witwatersrand in 1886 ; play the role of skeptic, though, it suits you and we need you and your ilk.

        Dec 06, 2019 06:20 AM

        KL.TO, NEM.TO, Eric Sprott are not exactly nobody, so your post is 50% BS. You are correct this spec play is risky, that’s why I am making tons of money on it as we speak. It’s all about getting in and out early.

        Dec 06, 2019 06:43 AM

        Wrong, Joe. Bob Moriarity, Eric Sprott, NEM, KL, Mitsubishi, Jay Taylor, Erik Wetterling, Cory, and I are buying and think this could be the biggest story of the 21st century.

          Dec 06, 2019 06:49 PM

          I couldn’t agree more. I’ve been following the NOVO story since beginning of 2017 with my first $10K purchase at $0.66/share. Every $43 is a $1M value for me. It doesn’t take much imagination to see if you only look at the 2,000 square km of gravel property and take even a major conservative number like 0.5g Au/cubic meter of gravel, that you have billions of oz of gold. I did a calculation at 0.8g and assumed on 1m thick target. You get 100B oz. If you take just 1% of that, you have 1B oz. A bet on investing in Novo doesn’t seem to risky to me. In fact, there is more risk in not having a position.

            Dec 06, 2019 06:49 PM

            You left out another plus for buying shares of Novo as I have. The deposits all seem to be NEAR surface ones which means the cost of product will be extremely low. Novo is my largest position that I have and it’s up nearly 400% from when I first purchased it. Since the deposit area appears to be about the size of the state of Mass. it looks like to me that they will be still pulling gold out of the ground for the next 80 years or so meaning the dividend checks will tide my grandchildren over when they’re my age now.

    Dec 06, 2019 06:52 AM

    What I don’t understand is why there aren’t 10 Steinart ore sorters onsite already sorting and mining? Novo has the cash to purchase them, if their financials are to be believed.
    Who would want to sell out.

    Dec 06, 2019 06:37 AM

    If you are looking for certain returns on your investment, small exploration miners arn’t for you. Novo is a punt, but what a punt. Buy what you can afford to lose and hang on for the ride.

    Dec 06, 2019 06:36 AM

    Share price & volume have virtually 2x on both North American exchanges since May 31

    Dec 06, 2019 06:09 AM

    Go bonzo, I made a similar comment twice last hour & got pulled down,

      Dec 06, 2019 06:31 PM

      Hey Marty, sorry your comments were automatically being filtered into the moderated area. Seems as though they were coming from a different IP address…
      I went threw them this morning and approved them. Your comments should be automatically approved here out.

    Dec 06, 2019 06:49 AM

    Placer gold is profitable at 10 cents per yard with a bucket line dredge. This placer has grades ranging from .3 to 3 grams per yard, this is $13 to 144 dollars per yard. So although it is not a typical placer, it can be mined with placer like methods at placer like prices. It should be extremely profitable!

    Dec 06, 2019 06:21 AM

    Referring to Joe and Bonzo above…There you have both the Bull and Bear thesis in a nutshell. You pay your money and you take your chances, but for me and the hundreds of hour of DD I’ve done on Novo, I’m also a buyer!

    Dec 06, 2019 06:09 AM

    If all these things are true of Novo, aren’t they also true of Pacton which also holds claims on thousands of hectares of terrain similar to and adjacent to Novo? Yet its shares are 10 cents US.

      Dec 06, 2019 06:53 PM

      I own Pacton for that exact reason. I think they will hit big in Canada and sell out their Pilbara land package to Novo to put the Canadian property into production.

    Dec 06, 2019 06:13 AM

    How many machines are they running? Even in test mode they could be generating gold. I’ve noticed in other posts they have at least 3 full crews. How many actual people? How many months can they work?

      Dec 11, 2019 11:36 PM

      My guess is that Mr. Henning is looking to purchase a number of the sorting machines but it’s the summer down there and it may just be too hot to work right now and they need to make sure that the machine that they now have doesn’t have any special problems that he haven’t anticipated.