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TF Metals fan
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Re: the David Lenigas interview

I struggle to understand all, part because of the language and part because of the phoneline.

But I feel there is some light between the JV's understanding of either Novo or Artemis.., especially in the way David stresses teh point that Artemis still is 100% owner of Purdy's up until the moment Novo has spend the 2 million in prospecting. This gave me an uncomfortable feeling. I would like to read your interpretation on this.

Other than that: it still feel very much like: this could be the one.....Fingers crossed. 

infometron
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David Linigas interview

Just listened, my god, what a painful experience, listening to the interviewer constantly interrupting with often inane and irrelevant points. Diamonds? Really! All that aside, it was very enjoyable listening to DL when he wasn't being so rudely interrupted. He was very patient with Allan, the interviewer, to his credit.

Sounds like DL is doing his best to posture Artemis in such a way as to avoid a potential hostile takeover along the lines RXTexas was discussing on Stockhouse, but he also seems very pleased to be working on a 50-50 basis with QH and Novo. I appreciate that the Allan is getting people like John Kaiser, DL and possibly next up later this week, QH, despite the excruciating experience of having to listen to him. We've been so spoiled with Craig!

In any case, it sounds like it would be in Novo's interest to continue working on a fair and square basis with DL and Artemis. I love the idea of being in production by next year...

Cash flow! Ding Ding Ding Ding Ding!! Dividends! Ding Ding Ding!!

Keep the lawyers out of it!! Maintain good will!!

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infometron
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De Grey Mining (DEG.AX, DGMLF)

https://www.australianmining.com.au/news/de-grey-hits-big-gold-target-may-acquire-70-of-blue-moon-minerals-at-post-6m-depth/

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New article from Asshole

Bob Moriarty

http://www.321gold.com/editorials/moriarty/moriarty101917.html

He is an asshole, but I credit him with being the first time I heard about Novo.  Bought my first traunche of shares in 2012, but wish I would have sold my kids into slavery to buy more.

Image result for map of witwatersrand gold fields

They will be mining this basin for the next 50 years at least.  My exit target for my Novo shares is $100.  Then I will fake my own death so my wife will get the step up in cost basis.  This way we can both live out our fantasies, mine is to fuck over uncle Sam, and hers is to be married to a dead person.

GLTA

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AGXIIK,

I follow Haplo @HC on Twitter, does Lithium but also the Goldies in the Pilbara , holds De Grey.After listening to David Lenigas on ALLEN BARRY REPORTS would like a lot more ARV.  Tando

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Excellent move infometron,

Considering the drilling results from Fosterville. CYL have just resumed drilling just north of Fosterville, grades on shallow depth are high if they increase as the drilling goes deeper like at Fosterville KGL more than likely will offer a TO, the same goes for NML.  Tando

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Lets face it

The elites have us by the balls and resistance is futile.   Assimilate or be destroyed financially.

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@brokerk22

This Borkian dictum would be better placed on mainstreet where all could enjoy wink

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Lennigas-Barry interview.

I think that it's kind of ironic that Barry is such a terrible interviewer (especially compared to Turd), because I think it made DL more determined to get his messages out there despite Barry's constant interruptions and distractions. 

I even suspected that Barry couldn't wait to end the interview. Why could that be I wonder?

Could it be that DL's comments were at odds with many of the "stupid Aussie" quips that John Kaiser made the previous interview? DL certainly didn't come across as stupid or a pushover! Quite the contrary and seems to have formed a good relationship with Quentin Hennigh. Or could it be that Artemis actually has actually played this pretty well by giving 50% away in exchange for international investor attention. 

The Radio Hill plant is Key! I'll say it again - the Radio Hill plant is KEY! It has access to electricity and very importantly Water rights. Unlike my town of Kununurra, that has the biggest fresh water supply in Australia (fed by the annual Monsoon), Karratha has very limited water supply (Harding Dam). The one small dam supplies the towns of Karratha, Dampier, Roebourne and Wickham. This small dam is the only substantial feeder to this economic engine room of Australia and the water restrictions get very tight in the absence of tropical cyclones' (Hurricane in reverse) rainfall. 

Comet Well sounds like a reasonably near term prospect for Novo. However, the Artemis (JV) tenements are mostly already granted. This means that Artemis is in an excellent position. Will Novo have to pay Artemis a toll for feeding their share of ore through the mill? Or will Novo pay for the mining contractors to get ore to the mill and Artemis pay for mill processing? Could be an interesting few years and I suspect very low AISC of production. 

Artemis has a market cap of slightly more than the Novo Shares, Cash and Mill Value. Virtually no gold is priced into its current share price. How long will investors, especially us stupid Aussies, fail to recognise this and the enormous valuation discrepancy with Novo MC?? PS- I'm frustrated with the Aussie investment community too!

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@Dingo Re: Radio Hill Mill

That is excellent information, @Dingo! Thank you very much for that. The Radio Hill Mill should work well for Artemis to start generating cash flow from the 100% Artemis-owned Mt. Oscarwits tenement. If I were DL, that's what I would do... the more cash the better, and the more difficult for staving off any hostile takeovers. How about ore from the Purdy's Reward 50-50 Novo/Artemis JV? I would bet only on an excess capacity basis. We shall see.

How easy it is using that Steinert sorter to separate out the nuggets for producing dore, and stockpile the rest for milling at a later date once the infrastructure is in place to process it.

If the target conglomerates continue to grade at 1-2 Oz(zies) per tonne, watch out!

Both Novo and Artemis could be high rolling next year, big time!

You might want to start a business there!

Pilbara gold rush share price small cap explorers mining resources

Throw the small one's back! laugh

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@infometron

Yep - the Steinert(s) are amazing and can be operated at the site. The tailings from this still could be ~10 g/t though. Definitely a case to run it through the Mill. I hope that we find an average of 2Oz/tonne in nuggets and the Steinerts can retrieve all of this. However, this remains to be seen.

Mt OscarWits seems quite incredible too. DL tried to contain his excitement on this one and not get into trouble by saying too much. 

I've worked in Karratha and Port Hedland quite a lot in the 90s. Not really pretty places I'm afraid. Virtually everyone you meet there seems money/pay obsessed. Some nice fishing and islands off the coast, however, not enough for this red dog. That's a movie that's based in the area around the 70's. That and the sequel are not too bad.

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Australian cultural skepticism and stubbornness.

Maybe the story of the Red/Blue Heeler Cattle Dog is a good illustration of Australians  needing international affirmation before we are willing to accept what greatness we have under our noses. This wonderful dog "breed" is a trial and error mongrel mix that has become a great cattle station (ranch) working dog and a loved pet across Australia. It wasn't always that way though!

You see, Farmers hate Dingoes! And Cattle Dogs have quite a lot of Dingo in their mix. For along time, Australians were loathe to accept these dogs as a breed, because it had too much native dog in it. Even our dogs were discriminated against. Imagine what it was like for the Aborigines (and I'm no "bleeding heart").

Californian Ranchers were the first ones to officially recognise this Dog Breed (? in 70s  or 80s). Once the international community accepted it, Australians were free to accept and love these dogs. 

I think Steve Irwin crocodile hunter is another example of Aussies following suit, only accepting him after becoming popular overseas.

Perhaps it would have been better to use Steve Irwin, rather than a "dog" as a metaphor to illustrate Aussie Mining Company Investors, "Johnny come lately" psyche. 

North American and European investors "get it" with Pilbara Conglomerates. Mainstream investors will " get it" eventually. At quite a high price though, IMO. I wouldn't be surprised if cashed up mine workers in the Pilbara are the first Aussies on to this bandwagon. Friends and Family of these guys in the cities will be next, instos after that and finally mum n dads and taxi drivers. It might happen slowly at first, then quickly. 

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If I'm reading this correctly,

Eric Sprott just added more NVO at $8 canadian

https://ceo.ca/nvo?46cb869f00eb

(Click on the SEDI link. 2nd entry down)

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More Sprott....

https://soundcloud.com/sprottmoney/sprott-money-news-weekly-wrap-up-102017

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Fidelity International Trading ASX

If you have a Fidelity account you can call them and get it coded for international trading. It's free. You can then use their online platform to buy the stocks on the ASX. You'll have to convert your currency first. I have purchased my Australian stocks on the ASX. Nobody gives a shit about these other companies yet; no interest. I think that's a great sign. 

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Water Rights

If I remember correctly from prior company releases, they won't need water to recover the gold.  

I would dig it up, but I'm being super fucking lazy today.  But I know this to be true, at least for Beaton's Creek.  If its the same type of gold (which it is), then I would assume they could dry mine the stuff in the same manner.

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Sprott's recent purchases

The fact that Sprott purchased 218,700 more shares and an entity he has an interest in bought 218,700 more shares of Novo on 10/17 for $8.08 a share canadian is big news for me. If my math is correct $8.08 canadian is about $6.46 a share US. Therefore Sprott purchased shares at a price higher than what Novo is currently selling for.

While Sprott has large holdings in Novo, most of those holdings were purchased at what now look to be bargain prices. The fact that  on 10/17 he was willing to pay $6.46 US indicates that he is comfortable with that price. I've been happy to trail Sprott and buy at substantially higher prices. Of course, his recent purchase may not be significant to Sprott given his net worth.

10/17 was the date of the last press release and given the size of Sprott's investment in Novo, he can probably only buy stock after a public announcement. I take this as a very good sign.

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@StevenBHorse

If there's 2-3 Ozs/tonne in nuggets, and this is ubiquitous, and able to be separated from the ore body by Steinerts, I guess who cares about 10-15 g/t of fine gold in the tailings - we'll all be fabulously wealthy. 

Chances are the fine gold component will be very economic to mine, along with the nuggets. Wits 1 is/was all fine particle gold. It is very likely the mill will be required, along with lots of water and electricity. The distribution of nuggets (I'm optimistic), is yet to be determined.

While water is scarce in this area, cheap natural gas from the north west shelf projects is definitely not in short supply. Mining contractors, skilled labour and all things to do with mining are plentiful. I can't believe it's so close to Karratha. It couldn't be better situated, IMO.

Water could be obtained from de-salinisation of sea water if necessary. Water will be essential though, and this has been a technical issue for some nearby mining operations. Good luck to all!

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Hennigh Barry interview

For me the main take-away is at the end in which Quinton explains his plan into the future. It is clear he already is moving ahead fast and feels very confident.

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Random Pilbara Thoughts

Egad those Allan Barry interviews are like fingers on a chalk board. On every interview thus far with Kaiser, Lennigas and now Hennigh, he interrupts them right as they are getting to crucial information that you would want to hear and then they never double back to the point the interviewee was making. Makes you realize how rare a bird is Craig, who can just ask the right leading question and then get out of the way to let the expert answer competently and completely. I appreciate that Barry had the moxie to chase down these guys for an interview, but for heavens sake just let the interviewees talk without interruption. Painful.

I find myself trying to hold myself back on this Novo/Artemis potential Wits 2.0 find. I want to dive in with an additional huge position so badly. But I've been burned so many times by taking outsized positions. And you can see all the gents above (Kaiser, Hennigh and Lennigas) purposefully trying to restrain themselves as well because so much work still remains before you know how much, what grade and how recoverable it all will be.  With all that said, this really does feel like an honest, once-in-a-hundred-years find. You can hear it in what the interviewees hold back on or won't say that betrays their thoughts: they all think it's real too but their own lifetime of cautionary experiences in mines that didn't pan-out is what keeps them (excitedly) measured. 

That said, there is a part of me that wonders why I'm not going all-in on these miners.  Thus far, I have avoided the "nearology" peripheral players like MacArthur Minerals and Kairos that Infometron has taken positions in (nicely played Info, as MacArthur is reporting some great developments) since we still don't know how continuous the conglomerate is thorughout the Pilbara basin.  I've just been keeping it to the core that Sprott is in for now (Novo, Artemis and De Grey). And since the geology seems to be dipping sub-surface to the south, and only sun-lighting at Artemis' Purdys Reward strike, Novo does for the moment seem to have the biggest open horizon tenements under the ground. Their greenfields could be massive and truly mind-boggling once this all plays out.  Still, Mr. Lennigas does seem to think that the Mt. OscarWits property indicates that the conglomerate runs north as well whenever its protected by the northern iron caps. So Artemis still may be a behemouth. For now, I'm feeling partial to weight towards Artemis because they have the day-lighting pitable conglomerate, the only mill, the indigenous and water rights in place and that additional potential Mt. OscarWits bonanza. (Did he really say the fine-gold conglomerate there was 50-70 meters thick? I need to re-listen.)  

But the southern dip and that 20 year old (Rio Tinto?) deep drill hole that hit conglomerate 200 kms to the south has me wondering just how big this thing really is?  It's waaay too early to be thinking this, but the big iron miners own all the tenements to the south and their land holdings are massive.  Will they end up being the eventual gorillas in all this? Right now they look too far to the south and out of current picture, but in the back of my head if the Pilbara Three of NVO, ARV & DEG end up hitting it big, one could be excused in eventually putting some of the profits into a Rio Tinto or a Fortescue Metals Group type iron miner, just in case. 

FWIW - Dave Kranzler has been cautioning his newsletter subscribers to take their Novo profits and sell, since nothing is material yet and he feels the current market cap is only built on hype. But you can tell Sprott thinks it's real and he continues to plow big money into it (even for him), up to buying on the open market. So who knows. I got in late, I did not get a multi bagger out of this one, but I know some of you got 10 baggers. Congratulations for those who did. It's nice to have ANYTHING that Turdville can celebrate over the past 6 years. And thanks, Dingo, for the "man on the ground" updates. Really helpful. Keep 'em coming.

Good Luck To All in the Pilbara.

And watch out for the snakes.

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