$NSRPF Bob Moriarty today on NOVO
http://321gold.com/
http://www.321gold.com/editorials/moriarty/mo...2717a.html
This excerpt is a meaningful statement of
the point of the article in the link above:
(1) “This is an unconventional deposit. It has to be explored and tested
in an unconventional way.
(2) The only purpose of drilling core should be to determine structure.
There may well be multiple layers of conglomerate. They may or may
not be mineralized. If it was I and I know I will be ignored, I wouldn’t
even assay for gold. All you need is three or four assays to come
back without gold and the ignorant will sell in a panic as the ignorant
always do.
(3) You will never ever know the accurate grade until you mine. The
core holes will either miss the gold entirely or hit nuggets and show
hundreds of ounces of gold per ton. Neither will be correct. The wide
diameter drill will be more accurate but you will need hundreds of sam-
ples to even have a SWAG (Stupid-Wild_Assed_Guess) at what the
real grade is.
(4) The difference in total cost to mine one ounce gold compared to
three ounce gold is for all practical purposes meaningless. Therefore
production should begin as soon as possible even on a small scale.
I think the two-ounce material will be a lot more representative than
either Quinton or John Kaiser or anyone else believes. The highest
value is going to be in the nuggets, not the fine gold and there be a
lot more of them spread out over a lot larger area than anyone but
me believes. One hundred tons of two-ounce material a day is 72,000
ounces a year. Go back and memorize point 1 above. Think in an un-
conventional way.
(5) Rob Humphryson, the CEO of Novo, is a production guy. He and
I chatted for a short time during my visit eight weeks ago. Quinton
should fart around all he wants perfecting the exploration and devel-
oping the theory while Rob and I focus on perfecting the production.
This is going to be a giant project and figuring out how to mine and
mill is just as important as trying to figure out where the gold is and
how it got there. You don’t need to prove up 10 million ounces to make
a production decision. Novo has $70 million in cash and a bunch more
on call in the form of warrants. They should spend $30 million on a
plant. Call it a test plant of a bulk sample. Do it now.”
Read the whole article please.
NOVO recently corrected 20% or so.
Now is the time to enter the NOVO trade,
or, better yet, to invest.
Until2017
http://321gold.com/
http://www.321gold.com/editorials/moriarty/mo...2717a.html
This excerpt is a meaningful statement of
the point of the article in the link above:
(1) “This is an unconventional deposit. It has to be explored and tested
in an unconventional way.
(2) The only purpose of drilling core should be to determine structure.
There may well be multiple layers of conglomerate. They may or may
not be mineralized. If it was I and I know I will be ignored, I wouldn’t
even assay for gold. All you need is three or four assays to come
back without gold and the ignorant will sell in a panic as the ignorant
always do.
(3) You will never ever know the accurate grade until you mine. The
core holes will either miss the gold entirely or hit nuggets and show
hundreds of ounces of gold per ton. Neither will be correct. The wide
diameter drill will be more accurate but you will need hundreds of sam-
ples to even have a SWAG (Stupid-Wild_Assed_Guess) at what the
real grade is.
(4) The difference in total cost to mine one ounce gold compared to
three ounce gold is for all practical purposes meaningless. Therefore
production should begin as soon as possible even on a small scale.
I think the two-ounce material will be a lot more representative than
either Quinton or John Kaiser or anyone else believes. The highest
value is going to be in the nuggets, not the fine gold and there be a
lot more of them spread out over a lot larger area than anyone but
me believes. One hundred tons of two-ounce material a day is 72,000
ounces a year. Go back and memorize point 1 above. Think in an un-
conventional way.
(5) Rob Humphryson, the CEO of Novo, is a production guy. He and
I chatted for a short time during my visit eight weeks ago. Quinton
should fart around all he wants perfecting the exploration and devel-
oping the theory while Rob and I focus on perfecting the production.
This is going to be a giant project and figuring out how to mine and
mill is just as important as trying to figure out where the gold is and
how it got there. You don’t need to prove up 10 million ounces to make
a production decision. Novo has $70 million in cash and a bunch more
on call in the form of warrants. They should spend $30 million on a
plant. Call it a test plant of a bulk sample. Do it now.”
Read the whole article please.
NOVO recently corrected 20% or so.
Now is the time to enter the NOVO trade,
or, better yet, to invest.
Until2017
