I think I’ll probably wait until say the first week of January to buy more (just bought some shares a week or so ago) … depending on the facts as they develop. Something tells me that with all the downward pressure these days QH might be feeling the pressure - and he just might come out with some news about Egina. Who knows - but I think I’ll cool my jets for a bit longer.
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Rick,
Where do you think the chart goes price wise? Thanks.
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Well Rick - I couldn’t help myself, I just had to splurge on another 2,950 shares of Novo. Even if it didn’t hit ROCK bottom, I think it might be pretty close, although tax loss season continues through December 31 … either way, the pain shouldn’t be too long since we start pouring dore bars in February “hopefully” …
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I wasn’t expecting this. I was putting all my eggs in the Paterson Range drill results to be released soon. This should add some pop to
Artemis.
Artemis - Carlow Castle Update - Outstanding Drilling Results - 2gtAu 0.71%Cu 0.15%Co 44m - 4.24gtAu 1.58%Cu - 11m - 2.98gtAu 0.85%Cu 0.25%Co 53m - 1.15gtAu 0.36%Cu 0.05Co 75m
Alastair Clayton, Executive Director commented:“These outstanding results from the latest batch of assays from Carlow Castle further underlines our belief in the potential for this project to be a regionally significant gold-copper-cobalt resource.Step out drilling to grow the resource to the South has hit impressive grades over some very large widths and infill diamond grade and structural drilling to support future resource upgrades just highlights the impressive characteristics of the gold, copper and cobalt mineralization at Carlow Castle.Drilling has discovered a totally new zone of shallow, high grade gold and copper mineralization over 250m north of the Carlow Castle Resource Area. This new Northern Discovery Zone will be immediately followed up as part of a10,000m RC drill program that is due to commence before Christmas.We are expecting more assays to be available in the coming weeks, including much of the deeper diamond drilling that targeted further examples of the high-grade gold mineralisation discoveredbelow the existing resource shells*. Our Paterson Central 2020 updateis also due imminently.”
Rod
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JCN,
Tough to say. Chartwise NSRPF is a mess in an obvious steep downtrend since November. That’s attributable to Kirkland Lake selling off 18.5 million shares which not only put selling pressure on the stock, but the news was not taken favorably despite all of the favorable developments going on with the company. On top of that we have end of year tax-loss selling adding to the downward pressure.
The stock is well oversold so I could see buyers nibbling a bit at these levels. The downside risk is $1.00 at this point (Covid panic point). I’d be surprised if it ever got that low without a macro-event, but what the heck do I know?
On a positive-looking side, if the chart reverses around these levels, we’re looking at a potential long-term inverted head and shoulders pattern which technically is bullish longer term if it plays out.
I’m definitely going to be buying more before yearend because I think once January comes shareholders are going to be looking towards production within 3 months and tax loss selling behind them.
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Thank you sir appreciate it
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Also, if we treat the Covid meltdown this year as an anomaly, which is a reasonable assumption, there has otherwise been a solid support line for the last 2 years at $1.50.
I’d be interested in Rich’s analysis on the NSRPF chart.
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This is a FANTASTIC Christmas present from Karora!!
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I’ll take care of that soon here Rick.
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Rick,
I couldn’t be more pleased with Karora. They absolutely keep on delivering the goods with so many more good things pending. They are piling up the cash and cutting debt, buying back shares, drastically expanding their resource with more proven reserves to come in 2021, more aggressive drilling planned/ongoing, more pits to open, more coarse gold finds etc. What’s not to like?!!! 
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The chart is up on the charting page.
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FYI…KRR is now quite close to an all time high.
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Yep, congratulations to all, a nice .25 bump this morning for starters.
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Price target for KRR jumps to $8.50 Canadian:
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Novo Receives Conditional Approval to Graduate to the Toronto Stock Exchange
VANCOUVER, British Columbia, Dec. 17, 2020 (GLOBE NEWSWIRE) – Novo Resources Corp. ( “Novo” or the “Company” ) (TSX-V: NVO & NVO.WT; OTCQX: NSRPF) is pleased to announce that it has received conditional approval from the Toronto Stock Exchange (the “ TSX ”) to graduate from the TSX Venture Exchange (the “ TSXV ”) and list its common shares and certain common share purchase warrants (the “ Warrants ”) on the TSX.
Final approval of the listing is subject to the Company fulfilling the TSX’s standard listing conditions. Upon, and subject to, receipt of final TSX approval, Novo’s common shares and Warrants would be delisted from the TSXV and begin trading on the TSX under the symbols “NVO” and “NVO.WT”, respectively.
The Company’s common shares will continue to be listed on the OTCQX under the symbol “NSRPF”.
“This is a significant milestone for the Company,” commented Dr. Quinton Hennigh, Chairman, President, and a director of Novo. “Novo has grown dramatically since the Company’s initial public offering and listing on the Canadian Securities Exchange in June, 2010. I would like to thank the TSXV for its years of continuous support after accepting Novo’s listing in May 2015. Given Novo’s international exposure, we believe it is time to graduate to the TSX, one of the premier exchanges for publicly traded companies, in order to enhance liquidity of Novo’s stock and extend Novo’s appeal to the international investment community.”
About Novo Resources Corp.
Novo is advancing its flagship Beatons Creek gold project to production while exploring and developing its highly prospective land package covering approximately 14,000 square kilometres in the Pilbara region of Western Australia. In addition to the Company’s primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its shareholders. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.com
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Beatons Creek Operational Update
VANCOUVER, British Columbia, Dec. 17, 2020 (GLOBE NEWSWIRE) – Novo Resources Corp. (“ Novo ” or the “ Company ”) (TSX-V: NVO & NVO.WT; OTCQX: NSRPF) is pleased to provide an operational update from its Beatons Creek gold project (“ Beatons Creek ”) and Nullagine processing facility ( “Golden Eagle Mill” ).
Beatons Creek and Nullagine Gold Project Update:
Development at Beatons Creek and refurbishment at the Golden Eagle Mill continue to progress safely, on schedule and within budget. Recent key events and milestones include:
- Iron Mine Contracting Pty Ltd (“ IMCPL ”) has commenced ramping up activities from today;
- 1 in 500 year rain event on Dec 11 th and 12 th (320mm in 48 hours) caused flooding in the town of Nullagine and some damage to the haulage route and communications. Site access and regional communications were re-established without impacting project schedule;
- Haulage of material to the Golden Eagle Mill will commence from 21 st December once the main Newman to Marble Bar road is satisfactorily repaired;
- As a result of the recent rain event, the site now has in excess of 6 months water supply in the Golden Eagle pit adjacent to the plant to complement the site borefield supply;
- Site is preparing for a scheduled holiday hiatus in processing plant construction activities from 22 nd December until 4 th January; and
- Site personnel (including contractors) now total 90.
Please see the Company’s news release dated December 8, 2020 for the Company’s previous operational update.
Development activities at Beatons Creek:
- IMCPL and Edwards Earthmoving P/L continuing with mining development works;
- IMCPL Mining equipment mobilized to site includes 1 x D10 dozer, 1 x PC850 excavator, CAT 740B watercart, 14M grader and 3 x CAT 745 trucks, with additional fleet scheduled to arrive within a week ( see figure 1 and figure 2 below );
- Lacy Contracting Services P/L are preparing to commence haulage from Beatons Creek to the Golden Eagle Mill from 21 st December;
- Grade control reverse circulation drilling by Castle Drilling continues on two shifts across the Edwards and Grant’s Hill areas, with this initial grade control program schedule for completion by 22 nd December;
- Beatons Creek ROM pad has been widened;
- Topsoil stripping of Grant’s Hill waste dump location has been completed; and
- Office buildings have been relocated from the Golden Eagle Mill to Beatons Creek ( see figure 3 below ).
Refurbishment works on the Golden Eagle Mill:
Plant refurbishment:
- The GR Engineering Services (“ GRES ”) scope currently stands at approximately 60% complete, with works continuing on schedule and within budget with no material issues or problems encountered thus far;
- Works continue with refurbished key componentry returning from Perth for installation – all continues according to schedule;
- Preparation and painting of the tanks will be completed prior to Christmas with only the inter-tank launders remaining to be painted in the first working week of January;
- Gravity section steelwork erection continues ahead of receipt and installation of the upgraded gravity circuit components;
- All long lead items have been ordered, with arrival dates remaining within the project schedule; and
- Commissioning planning is well advanced and on schedule.
Civil works:
- Foundations have now been completed for the upgraded Acacia reactor unit and new elution tank footings in the gold room.
Other major tenders:
- The permanent surface haulage contract package is currently out for tender, with solid progress being made with numerous other commercial agreements for fuel supply, processing reagents, and flights.
Novo CEO and director Rob Humphryson commented, “Despite the challenges created by some recent heavy rainfall, the project is tracking safely, within budget and to schedule. All contractors at the site continue to perform outstanding work and we thank them for their cooperative efforts.”
Dr. Quinton Hennigh (P.Geo.) is the qualified person pursuant to NI 43-101 responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is President, Chairman, and a director of Novo.
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The “Company” forgot to say; The reality TV film crew will be filming in the months to come.
Ho, ho,ho, May all stay healthy. Now wheres that snow???
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On top of the two Novo news releases today that I just posted, they just finished a 1 hour and 45 minute investor presentation which I listened in on. I’ll post the link once it’s made available.
After listening to the presentation I’m convinced Novo is going to have a breakout year in 2021 and the current anomalous price decline is a terrific buying opportunity with so much anticipated in the upcoming year. You figure the commissioning of the Nullagine mill and first gold pour are both scheduled in Q1 2021. Both events will surely cause an anticipatory rise and a bump in price upon the news. From thereon it will be rapidly increased revenues and increased exploration at all of their highly prospective properties along with a TSX listing. I bought more shares yesterday and will probably add more tomorrow. I’ve complete confidence in this company as a core holding in my portfolio.
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Thanks for the continued DD Rick and the rest of you MDMN misfits! Happy Festivus to all!
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