RCKS Talk

Wednesday, January 31, 2018 Derek Macpherson

Novo Builds Exploration Team; News Expected Shortly

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Novo Resources Corp. (TSXV:NVO) has expand its team with the appointment of Kas De Luca as Senior Exploration Manager, former Regional Exploration Manager – Asia Pacific at Newcrest Mining Ltd. (ASX:NCM). Our understanding is that, exploration is underway at Comet Well, trenching, bulk sampling and diamond drilling was set to begin by the end of the month. Bulk sample results from Purdy’s Reward are planned to be released over the course Q1 2018. Given the company’s recent update regarding exploration activities in Karratha, we expect upcoming exploration news shortly which should be an important catalyst for the stock as the company continues to determine the appropriate course of action regarding exploration methods. We continue to believe the recent pullback following Novo’s exploration update in-late December has created an opportunity for investors. read more


Tuesday, January 23, 2018 Derek Macpherson

Novo Receives Approval for Exploration at Comet Well

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Novo Resources Corp. (TSXV:NVO) received approval from the Department of Mines, Industry Regulation and Safety of Western Australia relating to the Programme of Works submission for exploration activities at Comet Well. The company now plans to shift its focus to Comet Well and begin trenching, bulk sampling and diamond drilling at the end of the month. Last week, the company provided an update regarding exploration activities from both Comet Well and the adjacent Purdy’s Reward. We continue to believe the recent pullback following Novo’s exploration update in-late December has created an opportunity for investors. Upcoming news flow should be an important catalyst for the stock, as the company continues to determine the appropriate course of action regarding exploration methods. read more


Friday, January 12, 2018 Derek Macpherson

Key Takeaways from Novo Update Call on Karratha Projects

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Red Cloud Klondike Strike Inc. and Novo Resources Corp. (TSXV:NVO) hosted a conference call for investors to provide an update on its ongoing exploration program on its Comet Well and Purdy’s Reward tenements at its Karratha projects in northwest Australia. The audio from the call can be found here. In our view there are three main takeaways from the call: 1) Multiple bulk samples from Purdy’s Reward are pending, 2) Work at Comet Well is about to ramp-up and 3) Bulk sample size is like to grow from current ~300kg to up to 10 tonnes. We continue to believe the recent pullback following Novo’s exploration update in-late December has created an opportunity for investors.  read more


Friday, December 22, 2017 Derek Macpherson

Novo Announces First Trench Results from Purdy’s Reward

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Novo Resources Corp. (TSXV:NVO) has provided an update on its exploration activities at Purdy’s Reward in Australia. In our view the results, remind us of the high-grade, large scale potential of this deposit, while at the same time remind us of the ongoing challenge that Novo has to properly identify grade in this unique deposit. With each new data set, we re-evaluate our original view that this area may host a +10 million ounce deposit. It remains very early days and while, how we get to +10 million ounces has changed, we still believe this possible at Purdy’s Reward and Comet Well. As well, we believe the recent pullback in the share price, may be an opportunity for investors, as the price in exploration success appears to be achievable based on our estimates.  read more


Wednesday, December 13, 2017 Derek Macpherson

Comet Well Tenements Granted; Work Likely to Shift from Purdy’s

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Novo Resources Corp. (TSXV:NVO) has announced that the company has been granted its tenements at Comet Well from the Department of Mines, Industry Regulation and Safety in Western Australia (DMIRS). It enables Novo to begin exploration work on Comet Well and satisfy its conditional farm-in rights. Once these commitments are satisfied in addition to other commitments, the company will have an 80% interest in the tenements via two joint ventures. As soon as the DMIRS approves Novo’s plan of work, the company plans to commence field work at Comet Well. We expect that once Novo is able to start fieldwork at Comet Well, the ongoing work at Purdy’s Reward is likely to be materially reduced as Novo has completed earning its 50% interest. In the near-term, we are expecting initial bulk sample results from Purdy’s Reward, which we expect to be a material catalyst for Novo’s share price.  read more


Friday, December 01, 2017 Derek Macpherson

RCKS Charts: NVO, GSC, PGE, RPX, BTR & TK

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In this edition of RCKS Charts, Keith has evaluated Novo Resources (TSXV:NVO), Golden Star Resources (TSX:GSC), Group Ten Metals (TSXV:PGE), Red Pine Exploration (TSXV:RPX), Bonterra Resources (TSXV:BTR) and Tinka Resources (TSXV:TK).  read more


Friday, November 24, 2017 Derek Macpherson

NVO Exploration Update Shows Progress & Challenges

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Novo Resources Corp. (TSXV:NVO) has announced an update on exploration activities in Australia at its Purdy’s Reward tenement and Karratha gold project. The company has reported that the Western Australian Government’s Department of Mines, Industry Regulation and Safety (DMIRS) has granted a 20,000-tonne excess tonnage permit for the extraction of a bulk sample from Purdy’s Reward tenement. The company has indicated that the desired results from large diameter drilling were not achieved. Therefore, the company is going to have to rely on the ongoing bulk samples for grade estimation. Scanning electron microscopy of the gold-bearing conglomerate has indicated that the fine-grained gold previously reported occurs as halos of particles within a few millimeters of the coarser grained gold nuggets. While early, this suggests that the grade of any future resources is going to rely solely on the nuggets and there may not be a background fine gold component. At Novo’s current share price, the market is pricing in a sizeable resource at Novo’s Karratha project, which based on the data to date, we continue to view as very possible. However, additional data, including additional diamond drilling to determine conglomerate thickness (ongoing) and assay results from the ongoing systematic bulk samples (early 2018), is needed to fully understand this projects potential.  read more


Thursday, November 16, 2017 Derek Macpherson

NVO Advances Comet Well Permitting

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Novo Resources Corp. (TSXV:NVO) and Ngarluma Aboriginal Corporation (NAC) have signed a binding terms sheet to advance the heritage agreement and heritage clearance processes with respect to Comet Well and surrounding tenements. Novo will issue 100,000 shares to NAC, upon completion of the heritage agreements and regulatory approvals. Subsequently, the company can move onto the grant stage, finalizing its joint ownerships in the tenements and begin the approval process for work programs. At Novo’s current share price, the market is pricing in a sizeable resource at Novo’s Karratha project, which based on the data to date, we view as very possible. However, additional data, including additional diamond drilling to determine conglomerate thickness (ongoing) and assay results from the ongoing bulk samples and planned large diameter drilling (early 2018), is needed to fully understand this projects potential. read more


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