Almost no one understands Novo and I think the company has a good chance of becoming the best Cindarella story in decades for reasons I have written extensively about in other forums.
Castlemaine was one of the richest alluvial gold fields ever with over 2,500 shafts recorded in a relatively concentrated area. The first drill permits that KZR got was for the Pine Plantation area in the northern part of the Wattle Gully tenement, which is actually outside of where all the alluvial gold was found in that claim block:
... The eastern part of the Castlemaine project and the new Queens application is near the Tandarra fault (spelling?) where Malmsbury of GBM is located (the one Novo will be earning into as well). Overall the gold around Bendigo and Fosterville etc seems concentrated to the west of the deeper source faults and you can see that in the slide above where the historic prospects are mainly located east of the Muckleford Fault, East of Slicer Gully Fault and KZR (with the help of QH) has outlined most targets as being west of whatever larger fault is in the area (like in the Wattle Gully South tenement where the big orange target ring is west of the Tandarra fault).
... In other words: KZR has not even begun drilling their main targets which includes "Wattle Gully" which already has a historic 400 Koz resource at 11 gpt. The best is yet to come.
The acquisition of Mt Olympus surprised me but KZR has stated that they started out having claims around the Paulsens mine so they probably know that area quite well. Secondly, it looks to be an incredibly cheap pickup right when the gold sector is start to heat up for real. Thirdly, it will help offset any "Boredome" of waiting for the crown jewels in Bendigo to get drill permits. Also consider that DEG's Hemi probably is a refractory system (most gold from those shear zones are and DEG has not commented on metallurgy so one could almost assume it's not "great"). Still DEG has a market cap today of close to $1 B based on multi moz refractory gold in Pilbara. Who am I to say Mt Olympus which starts out at 1.65 Moz does not have something similar given what I have read from NST and KZR about the area.
FSX on the other hand has one claim south of Fosterville but it only clips the two main hot spots of historic activity in that area. There ought to be potential at depth as well but it's obviously much harder to find if there is no smoke on surface. The company has a lot of ground in the Melbourne zone which is very different from the Bendigo zone.
... Still FSX has a MCAP twice as high as KZR, which I can't really explain other than it being listed in Canada and named Fosterville South.
For reasons explained above I consider KZR to have higher quality projects than FSX overall but half the Market Cap.
/My 2 cents cheers
