Quinton Hennigh explains progress being made toward the goal Novo Resources has of achieving 100,000 ounces of annual gold production at Beatons Creek and how the use of Mechanical sorting is being prepared to move the company toward and beyond the status of a mid tier gold producer in Western Australia. The company has generated positive operating cash flows even with average mill head grades of 1.3 g/t gold. With the implementation of grade control measures, expectations are for average mill heads to closely match the 2.1 average grade of the deposit. Achieving that, operating profits should be very robust given current gold prices.

Via Jay Taylor Media:


One thought on “Novo (NVO.TO): Quinton Hennigh Updates Investors on Novo Gold’s Production Progress and Future Plans

  1. Ryan says:

    If they could earn $12.5mm in free cash flow a quarter this thing would move way up. Can they? That would be roughly 25k ounces in production at a net profit of $500/ounce per quarter. They say they’re free cash flow positive, but never say by how many ounces of gold or what that profit is – I guess we have to wait until 10-Q.

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