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Novo
I’m long a few shares, and for the life of me, I cant figure out what exactly the Bad news is? Have they delayed the release of drilling results?
re NVO HALTED
I guess you guys talking about NOVO RESOURCES COR (OTCMKTS:NSRPF)??
http://finance.google.com/finance?q=nsrpf&ei=IWUYWvCoAoOImAG8jpD4CA
http://financeregistrar.com/smart-money-novo-resources-cor-com-npv-otcmktsnsrpf/
ten years ago….. Southwestern gold
this link may disappear as many now pay to clean any negative stories about your business or anything from search engines….just like in congress.
“Promising drill results from China had made Southwestern a high flier among the junior gold companies trading on the Toronto Stock Exchange. In early 2004, the company’s shares were worth more than $21 dollars each. Yesterday, they plunged on the TSX, leaving the company with a market value of $130-million.
Resource-focused fund manager Sprott Asset Management Inc., is Southwestern’s second-largest shareholder, according to data from Bloomberg News, owning more than three million shares or roughly 7 per cent of the company.”
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sng 12:50 ?
Just a side note
if one looks at www.finviz.com/futures for silver
not on a daily basis but on monthly basis :
for the past 4 YEARS, silver has traded between $15 and $ 20
opinion: nothing is going to change until TSHTF……..
but i sure wish it would go to $25 so i can cash out some of my
retirement fund and RETIRE!!!!!
I dunno what savvy backers/partners NVO has-they sure know more than I do=But this sure sounds like classic salting=an exploration “trench” little more than a half-meter deep.”
NVO HALTED AND DOWN 18%
‘Bunch of Nuggets’
“If it’s true, this is massive,” Brent Cook, a Rockville, Utah-based geologist and mining stock analyst who booked a flight to the site three days after Novo announced the discovery. For the moment, though, the company’s valuation — C$703.6 million ($559.5 million) — is “just absurd,” says Cook. “We’ve only got a concept, one small excavation, and nuggets scattered across hundreds of kilometers. It could turn out to be a bunch of nuggets that are only good for fossickers,” he says, using industry slang for prospectors.
The first test on land south of the coastal town of Karratha looked good. Employing two men, a metal detector and a jack hammer, Vancouver-based Novo extracted gold nuggets as long as 4 centimeters (1.6 inches) from an exploration “trench” little more than a half-meter deep. That tiny sample hinted atore grades that could be among the highest of any operating mine in the world.Such caution has failed to damp the euphoria driving Novo, whose backers include the world’s second-largest gold producer Newmont and billionaire precious-metals investor Eric Sprott. Sumitomo Corp. is partnering with Novo to study a site further east in a deal that could lead to the Japanese trading house taking a stake in the company.
silverngold @ 12:50. I liked your message there.
I think I liked that ‘just sayin’ message because it captured just what we are doing in relation to our PM-related physical and equity holdings. So for the time being I am entirely with you on your 12:50 note.
overton @ 11:29
I may be brave enough to talk about Novo but not to buy it! 🙂
Hard for me to buy something like that that has run up so much, especially when so little is known. I hope it’s huge!
I made some good money in ATAC in previous times. I have some now which I’m about flat on. Ready for a buyout!
I don’t remember “Sprott’s Southwestern gold disaster.” either. I remember my personal disasters just fine … like RBY and MDW and R.to. Ouch!
Isn’t it McEwen who has been saying gold and silver are going way way way higher? Hope he’s right.
Cheers
Be right and sit tight!!
IMO if one wants to WIN at this game you have to find the least loved sector (PM’s), buy both phyz and selected shares (or just throw a dart at the shares), and hold until TSHTF. In the end IMO you will be the only winners but will still hurt watching all the idiots who bought theETF’s, options, and other derivatives lose their shirts because the counter parties all defaulted and left the idiots holding the empty bag.
Just saying, and all the best from Silverngold!!
Armstrong
The Turning Point on the ECM is this weekend. We do happen to have a Directional Change next week in the Dow with the next turning point due the week of 12/04 and that is followed by the week of 12/18. What is most curious, is the fact that the Dow, Euro, Gold, and Oil all have the same timing targets, with oil showing the week of 12/04 is the strongest.
We are witnessing the global markets beginning to align. This is implying that international expectations are starting to dominate domestic or isolated market fundamentals.
We do not expect this turning point to be a monumental one. What this reflects is the markets are starting to align preparing for 2018 and the beginning of a new round of fun and games.
ipso facto……………since you are the only one that is brave enough
to talk about novo …………I remember when ATAC was in the ten dollar range ……………the Canadian private placement business was booming to buy those offers all the way up. I remember listening to Canadian brokers on all the weekend radio shows………the next “Carlin trend”. Then when you looked at the insider sales at the end of the month I’d say geez………….I guess they changed their mind that Saturday nite after the show.
Even people that have been around these jr pigs for 20 years don’t remember Sprott’s Southwestern gold disaster.
+++++++++++++++++++++++
MUX ………….if its true that Los Azules has 78 million gold equivalent oz’s from the copper and you can get it for $2 McEwen should be selling that story daily.
Looks like these pompous nut job dictators will be a ongoing concern going forward.
Maybe that’s why he’s a former GM and wonder what board members are behind this maybe next the lobbyist.
Former GM executive: People have 5 years to get their cars off the road
An auto industry veterans says that car owners need to “kiss the good times goodbye” because self-driving cars are speedily taking us to the end of an era.
“Everyone will have five years to get their car off the road or sell it for scrap or trade it on a module,” former General Motors vice chairman Bob Lutz recently declared.
What’s the rush? Lutz believes that autonomous vehicles will take over transportation, starting with ride-sharing services like Uber and Lyft. He joined the show last week to talk about the self-driving future with Glenn, who wanted to know: What makes this prediction different from when people thought we would have flying cars?
To see more from Glenn, visit his channel on TheBlaze and listen live to “The Glenn Beck Radio Program” with Glenn Beck and Stu Burguiere and weekdays 9 a.m.–noon ET on TheBlaze Radio Network.
Rough day
the fact that we can’t rally with a really weak dollar makes it worse
Like pouring salt in a wound.
Not unexpected for the day after Thanksgiving but still pretty frustrating that every blip higher gets sold.
Eeos
There are many holistic or homeopathy doctors who have been killed or said to have committed suicide that couldn’t be explained and others that excuses used that may not lead to suicide. Then tend to down play it like that group of homeopathic doctors et all attending a conference in Germany that were given a hallucinogenic drug about 30 of them down played saying they weren’t seriously harmed or died or could of taken it themselves all 29-30 of them. Things that make you turn your head. They e found cancer causing chemicals as far back as the first polio vaccines. They also found sterilizing agents by a catholic group in Africa. Now they’re pushing vaccines on pregnant women.
try & collect it ! Capitalists or Communists all promise Justice for everybody unless its about GOLD !
EXCLUSIVE: Venezuela and Crystallex Reach Billion Dollar Settlement over Expropriation
“The settlement looks to be between $1 billion and $1.4 billion,” estimates Russ Dallen, an international lawyer and banker who follows the proceedings.
MIAMI — Crystallex — owed $1.4 billion for the expropriation of its Venezuela mining subsidiary — has reached a billion dollar settlement with Venezuela.Lawyers for Crystallex will ask an Ontario Superior Court to approve the settlement — which is to be sealed at Venezuela and Crystallex’s request — this morning.
“Following months of start-stop negotiations with Venezuela, on November 15, 2017, Crystallex (through Venezuela Counsel) concluded the Settlement Agreement. The signed and stamped official version of the Settlement Agreement was received by Crystallex on November 20, 2017,” reports Crystallex director Harry Near in the court filing.
“The quantum of recovery that Crystallex will achieve under the Settlement Agreement is extraordinary when compared to the amount of the Award, and I understand this may be the largest settlement that Venezuela has ever agreed to in relation to an arbitral award,” says Near.
“That would put the award between the $1 billion Gold Reserve was able to obtain a settlement for and the $1.4 billion that Crystallex had been awarded,” said Russ Dallen, an international lawyer and banker who follows Venezuela carefully and who uncovered the court filings for the Latin American Herald Tribune (see below).
The Settlement Agreement
According to the Court filings, Venezuela has agreed to pay Crystallex “a specified amount of the Award, plus interest.”
The Settlement Amount is to be paid in a series of instalments, which include a series of up front instalments, recurring monthly instalments thereafter, and annual instalments until the Settlement Amount has been fully satisfied.
“On its face, the Settlement Agreement should provide value to the Company over time beyond the quantum of asserted creditor claims against the Company,” says Near.
“The first instalment is payable on [date redacted], provided other conditions of the settlement have been satisfied;
upon payment of the first instalment, the Company will suspend all actions and proceedings it has commenced to enforce the Award and take no further steps to enforce the Award,” the court filings say.
“Upon payment of the last instalment, the Crystallex will discontinue or terminate all actions and proceedings to enforce the Award.”
“If Venezuela breaches any of its payment obligations under the Settlement Agreement, Crystallex will be entitled to re-commence all of its enforcement activities suspended by the settlement, as well as pursue and initiate new enforcement and collection efforts,” says Near.
“As we have found out this week with Gold Reserve, the problem now becomes getting the money out of Venezuela,” says Dallen. “Gold Reserve buried a bombshell on Wednesday night when it reported its third quarter financials — Venezuela had been paying its $29.5 million dollar a month settlement payment into a Venezuela state-owned bank in Caracas since August and Gold Reserve had been unable to get that $88.5 million out of Venezuela.”
Gold Reserve says Venezuela Payments on $1 Billion Expropriation Stuck by Sanctions in Caracas
Bit coins
rockin & Rolllin… (riot )up 25 %
btsc up 14 %
btcs up 11.35 %
Novo Resources JV granted permit for 20,000 t sample
https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aNVO-2536087&symbol=NVO®ion=C
Some bad news mixed in there. Stock getting hammered.
Kunstler
The tax reform bill, whether it lives or dies, may only become a laughable footnote to the greater quandary of national insolvency. And, anyway, the proposals so far amount to a hall of mirrors inside a three-card-monte house of horrors that almost nobody really understands. As yet another old song says, this ain’t no Mud Club… this ain’t no foolin’ around. Meanwhile, down in the rococo dining room of Mar a Lago, the Golden Golem of Greatness tweeted yesterday that he was presiding over the greatest stock market ever! Kind of reminds me of the moment that old Joe Kennedy got a stock tip from his shoeshine boy.
The boyz are working hard this morning
to keep all things pm in check despite the USD not being able to get off the mat.
Doesn’t feel like hugging the flatline is going to last all day
Brazilian miners up in arms as lawmakers hike iron ore, gold royalties
Mining companies operating in Brazil are warning the government the recent approval of a bill that hikes royalties for iron ore and gold may end costing the country much more than what it would potentially gain.
In a vote Wednesday, Brazil’s lower house of Congress passed a bill that would increase royalty rates on iron ore by 75% and by 50% for gold, while it would cut those for potassium.
If it becomes a law, it would make iron ore producers pay a 3.5% royalty instead of the current 2%. That amount would be calculated off gross revenue instead of net revenue as is presently done, which would notably increase collections.
more http://www.mining.com/brazilian-miners-arms-lawmakers-hike-iron-ore-gold-royalties/
Buygold @ 8:43
Won’t come soon enough!
This one’s been a mover. Who know what they have?
Novo Provides Update on Exploration at Purdy’s Reward, Strategizes Bulk Sampling Approach With Artemis
https://ceo.ca/@nasdaq/novo-provides-update-on-exploration-at-purdys-reward
Oh yeah silverngold huge discovery
I’m sure the government is just killing those doctors left and right. You’re smoking the good stuff right? You need to take a reality pill once in awhile