Novo Resources – More Information On The Production Pause, Possible Restart and Ongoing Exploration

June 20, 2022

Mike Spreadborough, Executive Co-Chairman and Acting CEO of Novo Resources (TSX:NVO – OTCQX:NSRPF) join me to recap the recent news of pausing production and moving forward with the feasibility study. We discuss everything from shut-down and substituent start-up costs to possible staffing issues and ongoing exploration.


I tried to get all of your questions answered but if I missed anything or if you have any other question please email me at




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

    Jun 20, 2022 20:23 AM

    Now we know why they sold the NFG shares.

    Jun 20, 2022 20:25 AM

    Mike mentions a time frame of 12 – 18 months for Gov. approvals – is that from last March or now?

    It seems we are looking at 2 to 3 years before any cash flow from Novo. I wonder if they have enough money to make it to the next startup.

    Jun 20, 2022 20:48 PM


    Jun 21, 2022 21:41 AM

    I don’t own NVO but for those that do, what about selling and switching into another loser like PGM, which might provide a better chance of getting some money back.
    Novo looks like dead money or worse for the next year.

      Jun 21, 2022 21:59 PM

      Terry: I fear I agree with you re: Novo being dead money – not sure though I’d move it into PGM. If you really wanted to take a flyer what about Abcourt Mines/Pershimex Resources – at least they are producing something or any number of other companies. Unless Novo strikes something real, you are right – it is dead money for a long time.

        Jun 21, 2022 21:32 PM

        Mike, you got my point. At least the companies you mention are producing something unlike NVO running around 11,000 of Australian desert in dune buggies looking for something.
        Wallbridge(WM) for example have already found a bunch of nickel in Quebec whereas NVO have just started their nickel story.

    Jun 21, 2022 21:24 PM

    Let’s see what’s going on here:
    (1) Abrupt CEO departure of Rob Humphryson;
    (2) Mike Spreadborough as acting CEO, but no sign of what the plan is for a permanent CEO – is there a search underway, is Mike the guy?
    (3) Complete miscalculation of the delays associated with transitioning from oxide material to fresh material, now putting the mill in shut-down mode, risking extra costs, labor issues, etc. to get things restarted again down the road;
    (4) Only just submitted regulatory approvals in March 2022, suggesting this wasn’t on the radar for a years and makes one question why the team didn’t submit this earlier? 12-18 month estimate, which in this industry means 18-24 months at least.
    (5) No sign of a share repurchase program with the stock price in the toilet and cash available;

    What a disaster over the past 18 months

      Jun 23, 2022 23:01 AM

      Tyler, Terry – Thanks!

      If you are going to loose money on a stock you might as well learn something in the process. What I have learned:

      1) In the mining stocks – don’t catch falling knives unless you start out doing in and know you are trying to buy around a bottom and a real turnaround is possible.

      2) Don’t trust QH – he has a very spotty track record. Right now his win/loss record is near a coin toss.

      3) Ask yourself why someone hasn’t mined this before? In this case why haven’t the Aussies done this already – perhaps its because there ain’t much there!

      4) The more hype the worse it is for the individual investor.

      5) Position size matters – the more hype, the more QH the more important this is.

      6) Trust my gut to bail – better to loose a little than a lot more.