$NSRPF Excerpt from Proven and Probable https:/
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Posted On: 12/26/2017 9:06:08 PM
$NSRPF Excerpt from Proven and Probable
https://www.provenandprobable.com/bob-moriart...ok-listen/
Maurice Jackson:
Always an honor, sir. Bob, you’re one of the most coveted, respected names in the natural resource space, so it’s an honor to have you here sharing your insights. I would like to begin our conversation with Novo Resources, a company you and I both are shareholders in. Give us a little background on Novo Resources.
Bob Moriarty:
Well, let’s talk about what just last happened in the last couple of days. Novo released a press release, and they were talking about samples coming back from three of the trench samples. The really interesting thing is that one of them was 15 grams , one of them was 17 grams , and the other was actually above the pay zone, so it was 1.3 grams, and all of them were important for different reasons. Now, strange enough, the gold grade, overall is around 15 grams and the width identical to that of the Vits.
So, a 15-gram gold deposit, it’s certainly nothing to be ashamed of, if you got the lateral extent, and that absolutely appears to be the case. Markets go up, markets go down. You’ve read that in the book, and people say that when you’ve got a really great stock, it can only go up, and that’s just absolutely not the case. Rick Rule has said, “Every major discovery has at least one 50% decline,” and it’s, if you liked it at nine bucks, you have to love it at four bucks.
Maurice Jackson:
Bob, let me ask you this. Quality names usually have a sell-off this time of the year, from tax law selling. How much of a factor is the tax law selling, in this price movement?
Bob Moriarty:
None.
Maurice Jackson:
So this is strictly from the press release, basically?
Bob Moriarty:
Yeah, I think so. Yeah. The problem is, the first results were 67 grams , and that was so extraordinary, that anything less than that, everybody was disappointed, and said, “Okay, I don’t want to play anymore.” They’re forgetting that Witswatersrand produced two billions ounces of gold. Now, there are some specific issues with Western Australia. The gold is very nugget-y, which means it’s very difficult to manage it.
But, in this case, this gold that’s right at surface, they go down to 15,000 feet in South Africa , and that’s very expensive to do, and it’s very dangerous, and it’s very difficult. You can mine 15-gram material at surface, you’d make a lot of money.
Maurice Jackson:
Yeah, that’s certainly nothing to be ashamed about that, though. That, at the 15 grams , is quite commendable.
Bob Moriarty:
Sure.
Maurice Jackson:
When I saw the sell-off yesterday, I saw this as a great buying opportunity, and that’s exactly what I did, I bought more shares. Twofold question for you here. Are you buying Novo Resources at these prices? Why, or why not?
Bob Moriarty:
I’m not, but the reason I’m not is, because, I’ve got a very large position. It’s been my largest position for five years, and I don’t need to. Strange enough that somebody’s nervous about Novo. A really high potential, low risk stock would be to buy Kirkland Lake, because Kirkland Lake owns almost 30% of Novo, or has options on 30% of Novo.
<<<<<<< End oF Excerpt >>>>>>>
THE . LINK . :
https://www.provenandprobable.com/bob-moriart...ok-listen/
Disclosure : I have increased my position during this recent selloff.
Until
https://www.provenandprobable.com/bob-moriart...ok-listen/
Maurice Jackson:
Always an honor, sir. Bob, you’re one of the most coveted, respected names in the natural resource space, so it’s an honor to have you here sharing your insights. I would like to begin our conversation with Novo Resources, a company you and I both are shareholders in. Give us a little background on Novo Resources.
Bob Moriarty:
Well, let’s talk about what just last happened in the last couple of days. Novo released a press release, and they were talking about samples coming back from three of the trench samples. The really interesting thing is that one of them was 15 grams , one of them was 17 grams , and the other was actually above the pay zone, so it was 1.3 grams, and all of them were important for different reasons. Now, strange enough, the gold grade, overall is around 15 grams and the width identical to that of the Vits.
So, a 15-gram gold deposit, it’s certainly nothing to be ashamed of, if you got the lateral extent, and that absolutely appears to be the case. Markets go up, markets go down. You’ve read that in the book, and people say that when you’ve got a really great stock, it can only go up, and that’s just absolutely not the case. Rick Rule has said, “Every major discovery has at least one 50% decline,” and it’s, if you liked it at nine bucks, you have to love it at four bucks.
Maurice Jackson:
Bob, let me ask you this. Quality names usually have a sell-off this time of the year, from tax law selling. How much of a factor is the tax law selling, in this price movement?
Bob Moriarty:
None.
Maurice Jackson:
So this is strictly from the press release, basically?
Bob Moriarty:
Yeah, I think so. Yeah. The problem is, the first results were 67 grams , and that was so extraordinary, that anything less than that, everybody was disappointed, and said, “Okay, I don’t want to play anymore.” They’re forgetting that Witswatersrand produced two billions ounces of gold. Now, there are some specific issues with Western Australia. The gold is very nugget-y, which means it’s very difficult to manage it.
But, in this case, this gold that’s right at surface, they go down to 15,000 feet in South Africa , and that’s very expensive to do, and it’s very dangerous, and it’s very difficult. You can mine 15-gram material at surface, you’d make a lot of money.
Maurice Jackson:
Yeah, that’s certainly nothing to be ashamed about that, though. That, at the 15 grams , is quite commendable.
Bob Moriarty:
Sure.
Maurice Jackson:
When I saw the sell-off yesterday, I saw this as a great buying opportunity, and that’s exactly what I did, I bought more shares. Twofold question for you here. Are you buying Novo Resources at these prices? Why, or why not?
Bob Moriarty:
I’m not, but the reason I’m not is, because, I’ve got a very large position. It’s been my largest position for five years, and I don’t need to. Strange enough that somebody’s nervous about Novo. A really high potential, low risk stock would be to buy Kirkland Lake, because Kirkland Lake owns almost 30% of Novo, or has options on 30% of Novo.
<<<<<<< End oF Excerpt >>>>>>>
THE . LINK . :
https://www.provenandprobable.com/bob-moriart...ok-listen/
Disclosure : I have increased my position during this recent selloff.
Until
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