Strange how nobody has mentioned the $40-$50m liability this...

Strange how nobody has mentioned the $40-$50m liability this company carries with it to complete the rehabilitation of the former Millenium mine site. When it purchased the Nullagine mill this liabiliy came with it. The farmout of ground to DEG was a hit and miss strategy to try to cover this cost, if DEG stike something really big then they might offer NVO a large enough sum for the remaining 50% of the ownership to cover most of the bill. It would need to be big!

In the meantime the WA Mines Department will be taking this into account when Novo apply for permits..they dont want to see the company declare bankruptcy leaving the taxpayer to fund the rehabilitation.

Nobody seems to be asking why Novo didnt conduct its own exploration down trend from DEGs Hemi deposit just over the border. Or why exploration for lithium on their tenements wasnt even started, and if it were to begin today would likely miss the boat.

They were certainly well funded for this exploration, instead chose to waste money on known low grade deposits rejected by everyone else, a strategy they continue to follow today. No Greenfields exploration whatsover over a huge area that only has a few historical former exploration sites listed on the minedata data base.

Novo was Hennighs company he set up to specifically find Wits 2, a long held fantasy he held, and tried to superimpose over a totally innapropriate area in the Pilbara. How he manage to con Eric Sprott into completely funding his idiotic ideas to the tune of several hundred million is anyones guess!

Now he has gone and slunk off back to Canada humiliated, and the laughing stock in the industry due to his absolute incompetence, he has left this shell company behind for Australians to invest in. Looks like he's hoping to draw out even MORE money from the company to invest in his next dream in South America.....thats not been mentioned here yet either!

Does this shell company actually have ANY value? There are certainy many on the Canadian Bulliten Boards who dont think it has, and anyone thinking if investing in this company should at least flick through the posts there...