NVO 3.23% 15.0¢ novo resources corp.

Im curious where this "cash" is going to come from. We know that...

  1. 2,359 Posts.
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    Im curious where this "cash" is going to come from. We know that $50m is needed to rehabilitate the mine site and this figure far exceeds the scrap value of whatever can be salvaged from the mill machinery.

    Remember that NVO only have a 50% share in the Becher deposit that NVO are drilling. Its not a Toweranna style of mineralisation like found at Hemi...its the same style as Withnell (600k oz), Mallina (310k oz), Mt Berghaus (180k oz) and Wingina Well (290k oz).
    These deposits, including whatever is found at Becher are planned to provide feedstock when the above ground depisits at Hemi have been mined out after 10 years of planned production.

    So lets assume Novo hits the jackpot and finds a 500k oz deposit at Becher, (a long shot given the average size of this deposit type in the area is 345k oz). Given its feedstock for 10+ yrs into mine life, what would a 50% share in this marvellous find be worth? Nowhere near the cost of the liability for rehabilitating the aforementioned mine site.

    Remember any cash will be tempting for Hennigh to spirit off to South America to be used to prop up the ultra low grade silver mine this idiot has purchased,and with his ambitions to expand into other low grade south american projects, any free cash is likely to be snapped up quickly as so much will be needed!

    The market in Canada understands some of this, Australian investors would be wise to consider reality too...

 
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15.0¢
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15.5¢ 15.5¢ 15.0¢ $7.527K 50K

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Last trade - 12.21pm 30/04/2024 (20 minute delay) ?
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