Jayant breaks down how he is valuing Novo Resources

December 28, 2020

Jayant Bhandari joins me today to share his thoughts on the Novo Resources. We discuss the Company’s current market cap of around $550million CND balanced with some estimated production numbers form Beatons Creek. We also discuss the recent sale of shares by Kirkland Lake.

I have an upcoming webinar on January 8th at 11am PST (2pm EST) featuring Newcore Gold (TSX.V:NCAU – OTC:PRCNF). Please click the link below to signup for free and have first access to the recording. Also please email me any questions you have for the Company –

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    Dec 28, 2020 28:40 PM

    Son of a gun! I bought more NSRPF this morning, as well as more AUIAF, IRVRF, and LOMLF.
    And they are all up! Hooray!

      Dec 28, 2020 28:45 PM

      Here’s the chart I posted a few weeks ago when I said NSRPF was a good buy (and it looks better now):

        Dec 28, 2020 28:27 PM

        Thanks, Matthew. I missed that chart a few weeks ago, but It’s nice know you and Jayant like NSRPF. If their production works out OK when the mill gets going we may never see Novo under $2 again. Moriarity’s book on Novo comes out the day their production begins and that will generate interest too.

          Dec 28, 2020 28:44 PM

          I added to my Novo Resources position 2 weeks back, and will be fine if it just wants to start climbing higher as it moves towards first production during it’s “Golden Runway” phase. After that I want to see them take their organic revenues and their ore-sorting equipment and really get things moving at their other properties.

        Dec 28, 2020 28:32 PM

        Thanks for the update Matthew. Today was a great day for me. I had 8 stocks increase by 10 percent or more.

          Dec 28, 2020 28:49 PM

          Nicely done Charles. Today was a pretty good day for me as well, but I’ll be interested to see what happens tomorrow when the Canadian markets open up.

          Many of the stocks will have some catching up to do with their OTC counterparts trading in the US, but usually when one market is closed and the other surges, then there is a meeting in the middle of the two price points the following day; where the exchange that surged pulls back the following day, and the one that was closed does advance, but not as much as the exchange that was open the prior day. We’ll see how it goes…

          (of course, my feelings will not be hurt if the US resource and energy stocks still surge again tomorrow, and the Canadian stocks really surge big). 🙂

    Dec 28, 2020 28:54 PM

    U.S. Gold Corp. Drills Continuous Mineralization of 1.003 g/t AuEq over 176.8 Meters for its Second Metallurgical Hole at the CK Gold Project in Wyoming

      Dec 28, 2020 28:03 PM

      That is a pretty nice hole!

    Dec 28, 2020 28:02 PM

    Interesting perspective from Jayant. Thanks for bringing him on Cory.

    Dec 28, 2020 28:54 PM

    The One Number That Mattered Most To Global Markets In 2020

    By Robert Burgess – December 29, 2020

    “When it came to financial markets in 2020, the most frequently asked question was why. Why, in the midst of a global pandemic that has killed some 1.7 million people worldwide and plunged the economy into the worst crisis since the Great Depression, did equity markets stage a historic rebound to reach new highs and become completely disconnected from reality?”

    “True, the market is always about what will happen rather than what has happened, and it’s been highly profitable in recent years to buy whenever the market pulls back. Still, neither adequately explains the jaw-dropping 66 per cent surge in the MSCI All-Country World Index of stocks from its low in late March, the record-low yields in junk bonds, the more than five-fold increase in the price of Bitcoin or any of the other seemingly inexplicable market moves.”

      Dec 28, 2020 28:56 PM

      continuing on in the editorial above…

      “The answer is much simpler and comes down to one number: $US14 trillion ($18 trillion). That’s the amount by which the aggregate money supply has increased this year in the US, China, euro zone, Japan and eight other developed economies. To put the surge in perspective, the jump to $US94.8 trillion ($125 trillion) exceeds all other years in data going back to 2003 and blows away the previous record increase of $US8.38 trillion ($11 trillion) in 2017, according to data compiled by Bloomberg.”

      Dec 29, 2020 29:55 AM

      Litecoin could flip with Ripple and move into number four spot.

        Dec 29, 2020 29:06 AM

        XRP is in major trouble.
        If you didn’t believe it last week or don’t understand the impact please research- it’s very likely to be entirely delisted from crypto exchange in the US and no banks / almost no institutions or investors with any US customers or ties will use or hold it
        Bruce Fenton Dec 28th

    Dec 29, 2020 29:20 AM

    Still early but still looks like the algos are doing alternating days on miners. Meanwhile record highs in the zombie general markets like the zombies buying them.

    Dec 29, 2020 29:41 AM

    Matthew and Excelsior, do you own NULGF? I just bought more @ 10.1 cents
    Quinton studied Nevada for years when he was at Newmont and this was his favorite place to drill in the whole state, but it was a Barrick property then. Now NULGF owns it all.

      Dec 29, 2020 29:03 PM

      Hi bonzo – No, I don’t own any Numeracy.

      My Quinton stocks are Lion One, Nov, and Precipitate Gold. I also have a position in Defiance Silver where QH is helping and consulting them.

    Dec 29, 2020 29:53 AM


    Newcrest International Pty. Ltd., a subsidiary of Newcrest Mining Ltd., having completed its initial minimum work commitment of $1.1-million (U.S.) at the Miocene gold-copper project in Chile, has elected to exercise its option to advance to stage 1 under the farm-in agreement with Cornerstone Capital Resources Inc., dated Dec. 7, 2018.

    In connection with this option exercise, Newcrest will be making a payment of US$500,000 to Cornerstone (see Miocene Farm-in Agreement Terms, below).

    Due to the COVID -19 pandemic, drilling has been deferred and is now planned in the next austral summer season between December 2021 and April 2022.

    Figures referred to in this news release can be seen in PDF format by accessing the version of this release on the Company’s website (
    Newcrest has the option to earn up to a 75% interest in the Project in stages, as follows:

    Initial option period: making an up-front payment to Cornerstone of $100,000 (paid), and spending a minimum of $1.1 million (completed);…….

    Dec 29, 2020 29:01 AM

    U.S. Gold Corp. Drills 244 m (800 ft) of Continuous Mineralization, Including 78.3 Meters (257 ft) of 5.708 g/t AuEq from Surface for its Fourth Metallurgical Hole at the CK Gold Project in Wyoming
    2020-12-29 09:32 ET – News Release

    – Earlier test hole CK20-04cA, which was lost at 29.6m (97 ft) and averages 29.2 meters of 5.075 g/t AuEq, shows similar grades and mineralization thicknesses as CK20-04cB.
    – 04cB also includes an interval of 104 meters (342 ft) of 1.41 g/t AuEq below the higher-grade intercept.
    – Drill hole location was to obtain metallurgical sample for process optimization from the center of the deposit as outlined by historical drilling, 380 ft east from CK20-01c
    ELKO, Nevada, Dec. 29, 2020 /PRNewswire/ — U.S. Gold Corp. (NASDAQ: USAU) (the “Company”), a gold exploration and development company, is pleased to announce additional results of the recent twenty-nine hole drilling program for its CK Gold Project, an advanced stage gold and copper exploration and development project located just outside of Cheyenne, Wyoming.

    Dec 29, 2020 29:07 AM


      Dec 29, 2020 29:11 AM


        Dec 29, 2020 29:53 AM

        On December 29, 2020 at 7:02 am,
        cfs says:
        If you are asking a question of me, Jerry, could you please ask it again at the bottom, so I can find it. Thanks.
        I see th

        “the WAITING” but don’t know the question.

          Dec 29, 2020 29:02 AM

          I already , have done that several times…..

            Dec 29, 2020 29:04 AM

            Waiting….. without an answer…..”bullshit”, look under that one….

            Dec 29, 2020 29:10 AM

            No sense in going on…….I THINK , I have MADE MY POINT….. 🙂

            Dec 29, 2020 29:29 AM

            Jerry,Your vscreen must show something different from mine, because I cannot find a question

            Dec 29, 2020 29:51 AM

            Well how convenient……. 🙂
            I will give you a pass for the day….. not worth the continued effort…..

    Dec 29, 2020 29:39 AM

    copperfox,cuu, is up over 20% at this point.

    Dec 29, 2020 29:50 AM

    Does First Majestic know something? M&A ?

    Vancouver, British Columbia–(Newsfile Corp. – December 29, 2020) – Silver Dollar Resources Inc. (CSE: SLV) (“Silver Dollar” or the “Company”) has completed a non-brokered private placement of 400,000 common shares at a price of $1.40 per share to raise $560,000 in gross proceeds (the “Offering”).
    First Majestic Silver Corp. (“First Majestic”) subscribed for 200,000 shares or $280,000 of the Offering. This investment results in First Majestic holding approximately 16.3 percent of Silver Dollar’s issued and outstanding common shares.
    All securities issued pursuant to this Offering will have a hold period expiring four months after the closing date.
    The net proceeds of this financing will be used to fund the Company’s exploration and development work on its projects in Red Lake, Ontario, Canada and Durango, Mexico, and for general working capital purposes.

    Dec 29, 2020 29:09 AM

    Santacruz back after several days of being kicked in face.

      Dec 30, 2020 30:22 AM

      Overall Santacruz has done well in 2020, but that is coming off a great 2019, where it outperformed all the other Silver producers when the metals really started to surge.

      I lightened up a little on SCZ lately because it was growing too large of a weighting, but still have a solid core position in place, and like that they extended their mining lease at Zimapan recently, and have continued bringing down costs at Rosario.

      Ever Upward!

    Dec 29, 2020 29:50 AM

    COQUITLAM, BC, Dec. 29, 2020 /CNW/ – Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) is pleased to announce the intersection of a new, additional, high-grade silver vein within 60 metres of the Robinson Zone Discovery hole CA-1108. The Robinson Zone Project is 100-percent owned by the Company, in the 78-square-kilometre Castle Silver Mine property, in Gowganda, Ontario, Canada.

    This company previously had .45 metres of 4 kilograms/ton of Ag at this site.

    Dec 29, 2020 29:27 PM

    What the heck is wrong with brixton and ipt?

    Copperfox ended up over 30% today, it sure has had a run.

    Jan 03, 2021 03:31 AM

    What wasn’t dicussed fully is that Kirkland is selling/sold shares at a huge loss. Why wouldn’t Kirkland wait until Novo has the forecasted terrific cash flow next year and sell their shares in tranches at a much higher price? That is the reasonable thing to do.

    If Kirkland needed the cash right away for their own share buyback, it is better to finance their need at 6% and wait for Novo shares to go up 100%, My unsupported hunch is that Kirkland did not like Novo’s economic assessment of Beaton’s Creek or lack thereof. But then again, if Novo shared that info with Kirkland, then they are obligated to share it with all the other Novo shareholders.

    I admit I am stumped and I am not buying into Jayant’s viewpoint. Quite frankly, I own both Novo and Kirkland and I am looking to fully sell both companies when the shares recover from the current down cycle. For now, I own enough of both companies and will not average down.