RCKS Talk

Wednesday, November 08, 2017 Derek Macpherson

RCKS Charts: GSC, NVO, TK, AGLD, ECC, PGE & TRA

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In this edition of RCKS Charts, Keith has evaluated Golden Star Resources (TSX:GSC), Novo Resources (TSXV:NVO), Tinka Resources (TSXV:TK), Austral Gold (TSXV:AGLD, ASX:AGD), Ethos Capital (TSXV:ECC), Group Ten Metals (TSXV:PGE) and Teras Resources (TSXV:TRA). read more


Tuesday, November 07, 2017 Derek Macpherson

NVO Announces Strategies for Non-Core Assets

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Novo Resources Corp. (TSXV:NVO) has announced its strategy for its ancillary assets including the company’s 100% owned Tuscarora property in Nevada and several tenements in Marble Bar, Western Australia. Novo has signed an option agreement with American Pacific Mining (“APM”) where it has the option to acquire the Tuscarora property’s 24 unpatented mining claims in Nevada. American Pacific will initially pay to Novo C$375k and issue C$200k worth of shares to Novo once the company is listed on the CSE. Beginning on the one-year anniversary of American Pacific’s listing date, APM will be required to incur annual expenditures of $100k on the property. American Pacific will also grant Novo a 0.5% NSR, which can be repurchased for $500k. As for Novo’s tenements in Western Australia, further to forming a joint-venture with Calidus Resources Ltd. (ASX:CAI), the company will be issued 20M fully paid ordinary shares of Calidus upon the receipt of all necessary environmental approvals. This strategy allows Novo to focus on its Karratha projects, which represents the most value to the company. 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


Thursday, November 02, 2017 Derek Macpherson

Fine Gold, Not as Sexy but Just as Important as Nuggets

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Novo Resources Corp. (TSXV:NVO) provided an exploration update from the Purdy’s Reward tenement (earning 50%), which is part of Novo’s greater Karratha gold project in Western Australia. The company noted that core drilling has progressed further down-dip, and the company has opened 7 trenches with an 8th underway. All but one of which encountered the conglomerate. To investigate the presence of fine grained gold, some grab samples were taken from areas untested by a metal detector and yielded significant fine grain gold (Figure 1). While, these results are not conclusive with respect to grade, we view a component of fine grain gold to be an important element for the company to establish a sizeable compliant resource statement. These results, along with the bulk sample results released in August, suggest that a significant fine grain component is likely. At its 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


Thursday, October 19, 2017 Derek Macpherson

RCKS Charts: FM, KL, RIC, TECK, KDX and NVO

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In this edition of RCKS Charts, Keith has evaluated First Quantum Minerals Ltd. (TSX:FM), Kirkland Lake Gold Ltd. (TSX:KL), Richmont Mines Inc. (TSX:RIC), Teck Resources Ltd. (TSX: TECK.A and TECK.B, NYSE:TECK), Klondex Mines Ltd. (TSX: KDX), Novo Resources Corp. (TSXV:NVO).  read more


Wednesday, October 18, 2017 Derek Macpherson

Early NVO Drill Results Suggest Consistent Conglomerate Thickness

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Novo Resources Corp. (TSXV:NVO) has completed drilling of 12 diamond core holes in a 400x200m area (Figure 1), at its earn-in and JV, Purdy’s Reward in Western Australia. In the area drilled the conglomerate had a true width of between 4 and 15m, hole 17PDD007 (pictured in the press release) had an interval of 9.5m of conglomerate. This confirms our view and is important step in de-risking the project. The two main risks to our +10M ounce potential estimate, are conglomerate thickness and grade. This diamond drill program has started reducing the risk around thickness, the ongoing bulk samples and planned large diameter drill program should have the same impact on grade. At its 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


Thursday, September 21, 2017 Derek Macpherson

NVO To Begin Drilling at Purdy’s Reward

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Novo Resources Corp. (TSXV:NVO) received approvals for core drilling at Purdy’s Reward, the JV prospect with Artemis Resources Inc. (ASX:ARV). As previously announced, drilling will comprise of scout diamond core drill holes to test depth and thickness of the gold-bearing conglomerates, to commence around September 27th, 2017, followed by large diameter RC holes to collect bulk samples around October 15th, 2017. In addition, the company noted that trenching activities have already started, however is waiting on approvals to mobilize the hardrock trencher. The lab results for bulk sampling is expected to be turned around in 4-6 weeks. As well, the company provided a detailed explanation of how they plan to sample material generated from the large diameter RC holes and trenches. Results from initial drilling will be an important upcoming key catalyst, providing the company and market with understanding of grade, gold distribution and conglomerate thickness. Based on our preliminary value for Beatons Creek (C$150-200 million) plus the C$400-560 million we would ascribe to Karratha based on our +10 million ounce estimate at Comet Well, we believe some upside remains to the current share price, which is likely to be realized as Novo demonstrates the potential of its Karratha project. read more


Wednesday, September 20, 2017 Derek Macpherson

RCKS Charts: NVO

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In this edition of RCKS Charts, Keith has evaluated Novo Resources Inc. (TSXV:NVO).  read more


Wednesday, September 20, 2017 Derek Macpherson

NVO to Form JV with Calidus

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Novo Resources Corp. (TSXV:NVO) and Calidus Resources Ltd. (ASX:CAI) entered into a binding terms sheet to form a joint-venture on Novo’s tenements surrounding Calidus’ Warrawoona project in Western Australia. The tenements are located near Novo’s Marble Bar project (Figure 1). Upon completion, Calidus will issue 20,000,000 shares to Novo to earn a 70% interest in the tenements, noting any interest that drops below 10% will change to a 1% NSR. As per a recent update regarding Karratha, news is expected as exploration gets underway, specifically regarding the geology of Comet Well and Purdy’s Reward over the next couple of weeks. Based on our preliminary value for Beatons Creek (C$150-200 million) plus the C$400-560 million we would ascribe to Karratha based on our +10 million ounce estimate at Comet Well, we believe some upside remains to the current share price, which is likely to be realized as Novo demonstrates the potential of its Karratha project.  read more


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