Comments from Bob Moriarty:
Novo on Sale
Bob Moriarty
Archives
May 2, 2013
Novo is the real thing and every drill hole has tended to prove that. I think the stock would be $1.50 a share and the warrant holders would be thrilled to exercise $8 million worth if the biggest shareholder wasn’t standing on the price of the stock.
But on to Novo’s announcement. They released a 43-101 resource on May 1st of 421,000 ounces at a grade of 1.47 g/t. The company spent about $2.5 million on the drill program of 16,000 meters of RC and 478 meters of core drilling. They drilled off about 30% of a square km. Given that they only started drilling 14 months ago; it’s a nice resource. There was a time a year or two ago that a discovery cost of $6 an ounce would double or triple the value of a stock but it won’t be tomorrow.
Novo is in the process of permitting another 200 holes. The only thing holding the company back is money. Plans are for drilling another 20,000 meters of RC.
The market is at a historic bottom and one day soon or down the road, the rest of the investors will get it. Novo would be far higher in any normal market but this isn’t a normal market. When the big shareholder stops dumping shares, it will go up. Novo has the goods and more drilling will prove it.
We are biased. Novo is my biggest share position and they are an advertiser. Do your own due diligence.
Novo Resources
NVO-C $.65 (May 01, 2013)
NSRPF OTCQX 40 million shares
Novo Resources website
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Bob Moriarty
President: 321gold
Archives
321gold Ltd
