cdfund-notes

  • Novo Resources Presentation
  • Might be comparable to Wits
  • 1/3rd of all gold mined at the Wits (think of the potential)
  • Pilbara shares geological similarities to the Wits
  • Tight share structure
  • $69m in cash
  • Newmont comes to the site regularly
  • Creasy was and still is a conglomerate believer
  • Management team has been set up for operations
  • Novo will go straight from exploration to mining
  • Green dots: Hardey formation
  • Blue dot: Mt Roe formation
  • Rio Tinto and the other iron ore miners have headquarters centered around the Karratha, but they missed this completely.
  • The Novo Purdy Reward and CW deposits have similarities to diamond deposits

Plans

  • Bulk samples
  • Putting together a resource estimate
  • Geologists are looking for more conglomerate
  • More conglomerate has been found

Video

  • Bulk sample areas are parking lot sized
  • 4 meters thick sequence with gold nuggets
  • Next week there will probably be news out
  • A layer above CW was found
  • This layer’s stratigraphy is Purdy’s Reward style
  • World exclusive video
  • Video footage with a drone
  • Parking lot sized bulk sample areas
  • Conglomerate layer dips gently down at 3-4 degrees angle
  • The layer is 4-5 meters thick
  • Novo is still doing core and diamond drilling
  • Different stratas have been identified
  • Dirt removal is done very carefully to keep the conglomerate layer below intact
  • Prospectors have dug a “zillion” holes
  • Multiple 5 tonne samples are being mined, shipped and processed
  • Drone footage showed about 10 1 tonne sample boxes

Q&A

  • If this proves to be continuous, it is a very big deposit
  • Continuous sample news in the coming months
  • At Bellary Dome George Merhi found fine gold below Mt Roe
  • There are discrete basins with a center of gravity around CW
  • 8-10m OZ gold a good possibility at CW/Purdys
  • Novo will go straight to mining
  • Novo is treating this as if it is a mine
  • Novo has a permitter on board

Takeover

  • There are multiple big shareholders
  • No worries about a simple takeover without any competition between interested parties

Mining

  • A team has been built for trial mining in Perth
  • Keith Barron visited using his own funds
  • He argues that CW will be the lowest cost gold mine in the world

 

Artemis

  • Ed started to work in the Pilbara in 2003
  • Joined Artemis in 2014
  • THe Radio Hill plant is planned to be in production by the end of 2018
  • Currently the problem is permitting
  • Artemis is still hoping for a start of production in August
  • On the 22nd of April 2017 mail was sent to Artemis
  • Artemis had discovered the gold
  • QH then sent a mail
  • Amateurs were getting 1000s of dollars in gold nuggets every weekend
  • In September 2016 the conglomerate discovery was made
  • A post of JohnathonC post was shown in the presentation
  • Mark Creasy spent 30 years trying to find the conglomerate gold
  • When Artemis staked, the ground was vacant
  • Ed would have bought more land if he had the funds and knowledge he has now
  • DeBeers found diamonds in the region
  • Latest news release with gold shows larger gold nuggets with larger crystal structure
  • WM: “Why did CSIRO get interested?”
  • Creasy did a lot of funding for CSIRO
  • CSIRO have looked at gold all over the basin
  • CSIRO will help with exploration
  • WM: “Is it a basin wide system? Is this the Wits?“
  • EM: “My personal view is that it is a huge system”
  • Northern exposure or southern exposure = gold
  • Everywhere they have looked, they have found this

2 thoughts on “cdfund-notes

  1. Raymond Vreedenburgh

    Sir , do you believe that NOVO is holding back findings ?
    And if so would it be because of possible JV with a major ie Nem or someone else . NEM would make the most sense
    TIA Ray Vreedenburgh

  2. LMND

    Q: Sir , do you believe that NOVO is holding back findings ?
    A: Raymond, I am 100% convinced that Novo is taking the slow and steady approach. Last year Quinton Hennigh, the CEO of Novo, expressed his discontent with all the juniors in the Pilbara exploding in value while putting no real effort into exploring the Pilbara for conglomerate and putting zero effort in developing their projects. Part of taking the slow and steady approach is that Novo is not putting out newsreports the moment they have something new to tell. Another reason is probably that Novo still wants to acquire some parts of the Pilbara, and they do not want a huge bullmarket to start before these transactions taking place, because it would make it much more expensive for them.

    Q: And if so would it be because of possible JV with a major ie Nem or someone else . NEM would make the most sense
    A: I believe that Novo may do JVs with Kirkland Lake, Newmont Mining and a number of other large miners for parts of their land. The mining may be done by some of the larger miners, while Novo reaps all the benefits. I believe Kirkland Lake has expressed intent to mine at least part of the 85km strike from Purdy’s to the east. I think we will know more in about a year.

    LMND

Geef een reactie

Het e-mailadres wordt niet gepubliceerd. Vereiste velden zijn gemarkeerd met *