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Friday, August 6, 2021

A Fresh Case for Novo Resources Corp (OTCMKTS:NSRPF)

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One market space we are starting to see as holding increasing potential right now is the junior gold miners, and Novo Resources Corp (OTCMKTS:NSRPF) could be one of the best prospects there.

In addition, the company just hit the market with a report that it has conditionally agreed to lift the remainder of a twelve-month contractual hold period in order to permit the purchase by Kirkland Lake Gold of 4 million Novo common shares which were issued to Artemis Resources in August 2017 (please see the Company’s news release dated August 15, 2017). According to that release, Novo has been informed that the share transfer is expected to close by the end of this month. “Novo is thrilled to have Kirkland Lake Gold’s continued support” commented Dr. Quinton Hennigh, Chairman, President, and a director of Novo. “We are also excited to work with Artemis Resources to continue developing the conglomerate gold story and unearthing a potentially world-class gold discovery in the Pilbara.”

Novo Resources Corp (OTCMKTS:NSRPF) trumpets itself as a company focused on the evaluation, acquisition, and exploration of gold properties.

Indirect subsidiaries of NSRPF 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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Why is Gold such an interesting spot right now? For the first time in decades, a sitting president of the United States is attempting to play poker with the world in terms of nuclear armament and doing so on two fronts simultaneously.

But we’re doing it.

We’re taking on both North Korea and Iran at the same time. That has unleashed a storm of potential geopolitical risks. And we know that there’s only one asset on the planet that tends to benefit from periods of heightened geopolitical risk: gold.

In addition, the United States Federal Reserve, the European Central Bank, and the Bank of Japan have all recently come out in favor of letting inflation rates run above the 2% level for the first time in decades.

Do you know what happened the last time that was the case? It was called the 1970s, and the price of gold ran up over 600% as a result. A similar rally, if it occurred today, would take gold to nearly $10,000/oz. Now imagine that you have both of these forces at work at the very same time. What do you get? You get the biggest fund manager in the world, Jeff Gundlach, stating as follows in his recent speech at the Ira Sohn conference: “something exciting is going on here!”

Hence, yes, we think it’s a good idea to keep a close eye on companies in the gold mining space with serious speculative potential.

Currently trading at a market capitalization of $640.6M, NSRPF has a significant war chest ($63M) 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. Sign-up for continuing coverage on shares of $NSRPF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout 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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