Novo NR, page-23

The naive kid from Rogers, Texas has at last understood something very basic about the whole Pilbara story...something that you and several others have totally missed...Sprott and Kirkland Lake are only interested in very very high grade projects. To most of us this was obvious right from the start and its surprising to see some still think Sprott a potential further investor in DEG, who have a good run of the mill deposit with development potential but certainly not the proven extra high grade deposit that interests Sprott.q

Its also not surprising to see Sprott and co whose cash was invested to progress conglomerate gold, draw the line at having this cash pssed down the river at Egina. They do understand the nature of alluvial deposits and the fact that work over the last hundred years has shown that what gold remains is concentrated in nugget traps mostly low grade, and will not support large scale operations. While they may have been unable to achieve the split up of Novo projects so the junk projects are isolated, they have at least been able to force Novo to find alternative funding for these projects.

Why have Suminoto become involved? Have they dropped the ball so much they have been conned by Hennighs Party Tricks? Certainly the new breed of corporate executives in the Australian finance arm of the company has firmly rejected the old principles the company traditionally operated on....Sumimotos involvement in such a high risk and improbable project would have been unthinkable 5-10 years ago. There may even be a larger strategic reason we are unaware of where spoon feeding the Novo shrews nest serves some other purpose.