NSRPF - Novo Resources: Making The Shift From Explorer To Producer
- Novo Resources made a major shift in its business model recently, acquiring a mill next door to its Beatons Creek Project, and aiming to head into production before H2 2021.
- Assuming the operation is successful, this should allow the company to begin exploring its other tenements in Australia without significant share dilution, which was previously weighed on the stock's performance.
- While this is positive news, Novo is not valued attractively relative to peers considering its small global gold resource.
- Therefore, I continue to see better opportunities elsewhere in the sector, and I would view any rallies above US$2.90 as an opportunity to book profits.
For further details see:
Novo Resources: Making The Shift From Explorer To Producer