Wednesday, June 29, 2022


NOVO RESOURCES COR COM NPV (OTCMKTS:NSRPF) is a penny player in the Canadian gold space that recently got energized and blasted higher in response to an IIROC trade resumption notice. We don’t know the whole story there, but the action since that notice has been a one-way freight train higher. In addition, NSRPF recently announced that its board of directors has appointed Mr. Greg Gibson as a director of the Company.

According to the release, “Mr. Gibson is President and CEO of Sprott Mining Company and Jerritt Canyon Gold LLC. He has more than 30 years’ experience in the mining industry as a miner, mine manager, director, CEO and President. Greg’s experience has focused on gold and copper mines primarily in Canada, US, and Australia. He successfully led Trelawney Mining and Exploration as President, CEO and director from an early explorer to its $608 million sale to IAMGOLD in 2012. Greg is also Chairman and Interim CEO of Metanor Resources Inc. as well as a director of Ascot Resources Ltd., Sprott Mining Inc., Jerritt Canyon Canada, Latin American Minerals Inc. and Resource Capital Gold Corp.”

NOVO RESOURCES COR COM NPV (OTCMKTS:NSRPF) trumpets itself as a company focused on the evaluation, acquisition, and exploration of gold properties.

Indirect subsidiaries of Novo hold a 100% interest in the Beatons Creek gold project, a 70% interest in properties surrounding Beatons Creek and Marble Bar, a 100% interest in the Blue Spec gold-antimony project, and options covering approximately 400 square km over the Mosquito Creek Basin, all in the Pilbara region, Western Australia. Novo also controls a 100% interest in approximately 2 sq km covering much of the Tuscarora Au-Ag vein district, Nevada.

According to NSRPF materials, “Novo’s focus is to explore and develop gold projects in the Pilbara region of Western Australia and built up a significant land package covering approximately 10,000 km2. Novo also controls a 100% interest in approximately 2 sq km covering much of the Tuscarora Au-Ag vein district, Nevada.”

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As noted above, this junior gold miner has been on fire in recent trade, jumping over 150% higher in just the past 10 days following the trade resumption notice. The company has also bolstered its board in recent days, adding a huge element of experience. The gold market is currently hampered by what one might call a perfect storm of bearish factors now in play.

For example, core inflation remains extremely low, and headline inflation looks to be hampered by rolling obstacles to energy prices as the oil glut continues to dominate forecasts. And yet, Russia and OPEC can’t seem to get on the same page, and in a manner that can counter the supply push that seems to come from US shale producers every time cuts are made.

And yet, given all of this, the Fed, ECB, BoJ, BoE, and other central banks still seem set on carrying out a policy tightening regime over the next 12-18 months.

That’s why its impressive to see a junior gold miner gaining traction in recent trade.

“We are delighted to have Mr. Gibson join our board at this critical juncture,” commented Dr. Quinton Hennigh, Chairman and President of Novo Resources Corp.  “Mr. Gibson brings more solid mining expertise to Novo as we get ready to undertake our prefeasibility study of the Beaton’s Creek gold project later this year.”

The chart shows more than 140% during the past month in terms of shareholder gains in the name. The situation may be worth watching. NSRPF has a history of dramatic rallies. In addition, the name has benefited from a jump in recent trading volume to the tune of exceeding 290% over what the stock has registered over the longer term.

Currently trading at a market capitalization of $165.63M, NSRPF has a store ($1.6M) of cash on the books, which must be weighed relative to virtually no total current liabilities. The company is pre-revenue at this point. You can bet we will update this one again as new information comes into view. For continuing coverage on shares of $NSRPF stock, as well as our other breakout picks, sign up for our free newsletter today and get our next hot stock pick!

Disclosure: we hold no position in $NSRPF, either long or short, and we have not been compensated for this article.

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