08:59:16 EDT Thu 28 Mar 2024
Enter Symbol
or Name
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CA



Novo Resources Corp
Symbol NVO
Shares Issued 61,649,358
Close 2015-01-26 C$ 0.90
Market Cap C$ 55,484,422
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Taylor refreshes buy of Novo Resources

2015-01-26 21:02 ET - In the News

Jay Taylor, in the Jan. 13, 2015, edition of Gold, Energy & Tech Stocks, refreshes his buy of Novo Resources Corp., recently 83 cents. Mr. Taylor said buy three times between Aug. 16, 2013, and Aug. 13, 2014, at prices ranging from 80 cents to $1.19. Assuming a $1,000 investment for each of the three buys, the $3,000 position is now worth $2,646. Mr. Taylor calls Novo his top pick for 2015 and a most unusual exploration story. He remains convinced that Dr. Quinton Hennigh, Novo's CEO, is right about the existence of a Witwatersrand-like gold deposit at the company's Beatons Creek project in Australia. The editor is "holding his breath" that results from the first deep hole drilled at Beatons will confirm Dr. Hennigh's theory and send this stock to the moon. In December, Novo reported gold recovery rates of up to 99.3 per cent from metallurgical work completed on 12 bulk samples. The samples ranged in grade from 0.67 g/t to 11.64 g/t, which Mr. Taylor says is low but not without potential value. A bankable feasibility study on Beatons is due by August, 2016, after which Novo hopes to start open-pit mining. At current levels, Mr. Taylor sees very little downside risk to Novo even if gold stays depressed in 2015.

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