Australian NP title A Pilbara gold rush guide, page-91

Err - not really in my opinion, while ARV and Novo are in JV earn-in phase at the moment where Novo have to spend $2M to earn in to ARVs tenements, Novo have no choice, they have to explore in ARVs exploration tenements because Novo have heaps of their own ground but haven't got the native title and environmental approvals to do any meaningful drilling or trenching yet. Since the JV has been signed Novo share price has shot over the moon to silly high valuations whereas the ARV share price has had a slower trip, although the fact that ARV negotiated to obtain ownership of some Novo shares means that there must be some linkage between the share prices of Novo and ARV

Everyone else seems to be a "nearology" play with DEG, KAI, VXR, IPT, PIO etc etc (the list seems to grow by the day) all riding on the coat-tails of the Wits 2.0 / Pilbara Conglomerate hosted nuggets story/theory.

I could be wrong but Novo's work on the ARV tenement is only advanced to the point of nuggets in rather random trenches and slim-line stratigraphic diamond drilling and large diameter RC drilling that has only just commenced, i.e. too early to evaluate gold zone grades, depths and thickness at any depth at all yet.

It will only take a few duster drill hole results or a few more empty trenches without coarse nuggets or fine grained gold and things will get really interesting because the Wits 2.0 story/theory may be replaced by a much more difficult paleo-placer or limited extent series of coarse nugget geological oddities. If/when that happens we do know that it will probably happen on ARV/Novo joint venture ground (because no-one else has yet got government, native title, enviro approvals for high impact "truth machine" activities such as systematic drilling and trenching), and the reaction in share prices of Novo, ARV and all the other nearology plays will be epic.

I find it very intriguing that Mike Jones has brought IPT into the story, given his experience and background knowledge, he either suspects that there is a possibility or it's a calculated risk.

I got into IPT for Commonwealth gold and silver, ARV for the high grade Co drill results and VXR for Sulphur Springs base metal stuff, all pre-Wits2.0 Pilbara Conglomerate action, so most bemused to be following all these threads now. I would be extremely nervous if I were a recent holder in Novo whom has come late to the party.....