Novo Resources – Answering Your Questions On Operations, Management Changes and Selling Of New Found Shares

April 20, 2022

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




Click here to visit the Novo website and read over the recent news releases we discussed.

    Apr 20, 2022 20:45 AM

    By Daniel Avis
    Bloomberg News
    Wednesday, April 20, 2022

    Israel’s central bank has made the biggest changes to its allocation of reserves in over a decade, adding the Chinese yuan alongside three other currencies to a stockpile that last year exceeded $200 billion for the first time ever.

    Starting this year, the currency mix will expand from the trio of the U.S. dollar, the euro, and the British pound to include the Canadian and Australian dollars as well as the yen and the yuan, which is also known as the renminbi. The additions mark a change in the Bank of Israel’s “whole investment guidelines and philosophy,” Deputy Governor Andrew Abir said in an interview. …

    Apr 20, 2022 20:11 PM

    I wonder if Novo will find anything in the outback as good as their 10% of NFGC? I wonder what Moriarity thinks of this deal?

      Apr 20, 2022 20:08 PM

      Bonso, you purchasing at these nice low prices—-I am slowly accumulating.

        Apr 20, 2022 20:57 PM


        You are a brave man. It it seems that the market has given up on the company. The chart looks like death warned over with only one direction – down.