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Win us with honest trifles

Novo Resources (NVO.to): Reporting back on the Mining Event Of The Year

Yesterday’s keenly anticipated webinar from Novo Resources (NVO.to) was one hour and nineteen minutes that I won’t ever get back. I don’t know if it went on any longer, but that was the moment we got the only thing that mattered out of the company and the fact they aren’t going to finance this year (or “don’t envisage”, or “aren’t planning to” or whatever tricky wordery they used) and I could finally log off. Before that, we heard one desk telling us that the next desk was going to tell us about what the next desk was doing, then we finally got to someone who talked about the drilling they want to do at about two dozen locations. We got less on the permitting tracks for those drill programs though, probably because they didn’t want to confuse us with the minor technical details. As for real news, there was zero on the amount of money flushed down the toilet at their ops in 2021, nothing about the constant guidance misses, zippo on the cash cost hikes, nada on the grade control mess and mine dilution, sweet fannyadams on the difference between the reported resource grade and mill head grade, bupkis on 2022 guidance and not a dickybird on this…

…the wealth destruction this company has afforded on its shareholders since its “rate-rate into production” began. It must be admitted that the lack of substance didn’t stop NVO from layering on the style and there was no faulting P.T. Barnum PhD’s delivery, his soothing narrative of future greatness was smooth as silk. Mind you, after all the practice he’s had in pulling the wool over retail sheep eyes via endless video and audio pumpjobs, you wouldn’t expect anything less.

6 Comments

    Thanks for watching so we don’t have to…

    Reply

    Always a pleasure watching you tell it like it is. You’re a beacon of integrity in this industry. Would love to hear your thoughts on the RCF/ Iamgold dustup.

    Reply

    What an embarrassment for KL. actually putting shareholder money into this scammer.

    Reply

      Newmont leaves. Quinton Hennigh: “We don’t need ’em”
      Sumitomo leaves. Quinton Hennigh: “We don’t need ’em”
      Kirkland leaves. Quinton Hennigh: “We don’t need ’em”
      Agnico leaves. Quinton Hennigh: “We don’t need ’em”
      Crescat leaves. Quinton Hennigh: “We don’t need ’em”

      Funny thing is, as long as he has his True Believer fanclub, he’s right. That’s where Brent Cook and Bob Moriarty come into the picture.

      Reply

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