Subject: What Became of the Crow? Is the inside story of Novo Resources going from a twinkle in Quinton’s eye to production.
I first met Quinton in October of 2008 when it appeared the end of the world was right around the corner. On a 8 hour round trip to Wyoming to visit the Rattlesnake gold deposit we had lots of time to chat. He told me his theory about how gold was deposited in the Witwatersrand as oxygen produced by single cell creatures changed the chemistry of highly acidic sea water and gold precipitated out of solution and attached to carbon. It was a theory but an interesting theory.
A year later we made a trip to Perth to meet with Mark Creasy, the most successful prospector in Australian history. Mark knew Quinton’s theory and wanted to work with him. But rich guys are really hard to do deals with. Time is meaningless to them while time is a burning candle for a junior resource company. In any case a deal was done and Quinton was off to the races. A couple of days ago Novo made it’s first gold pour from the mill at Nullagine with ore from the Beatons Creek deposit. It’s hardly the beginning of the end but it is the end of the beginning.
I’ve run 321gold.com <http://321gold.com/> for some twenty years and worked with over five hundred companies and been to hundreds of projects. I don’t know everyone in the industry yet, there are three guys I’m still trying to track down. But I got to be a fly on the wall from the concept stage to the deal stage to exploration and now to production with Novo. Quinton is my best friend and I have made a lot of money betting on his skill. I probably know more about Novo Resources than anyone outside the company. For most of the last nine years Novo has been my largest share position. I’ve visited Australia half a dozen times to all of their projects and written more about them than anyone else. I love the story.
I know of not a single book that tells the tale of a gold company from startup to production. I got to see it and live it. Now and again I got to participate on a small scale. What I saw often shocked me, it was the stuff you would like to know but have never been told before. I think that What Became of the Crow? could become a classic and must read for geologists, resource company management and potential or actual investors.
If you want to know most of the real story behind Novo, you are going to want to read the book. If you are one of the people who have followed me since 2012, take my word, the hardback version is a beautiful book. If it seems overpriced, welcome to hyperinflation. That was literally the lowest price Lulu would allow me to sell it. But it’s a nice book.
It’s going to take fifty years before the Pilbara is fully developed. Novo has about 14,000 square km of ground and a lot of gold.
The book is a fun read and I highly recommend reading one or the other versions.
Arriving Next Week! Fresh from the British Mint, (2021) .10 Platinum British Britannia’s. We are taking orders now. These are my favorite platinum purchase? Why? Divisibility, these little guys carry a strong punch! The benefits, a Sovereign Coin that has strong purchasing power. Platinum is 30X’s more rare than gold, and has unique properties that are paramount in utility of a number of industries, notably for clean air in catalytic converters, and is also precious, and strategic metal. The fundamentals for Platinum are extremely compelling. Supply is becoming constrained and cannot keep up with demand. Platinum is already up over 20% this year. And has more than doubled the past 12 Months.
Reminder: We called Rhodium at $890 in 2017, today Rhodium is $23,000. We like the value proposition of Platinum equally to our call on Rhodium in 2017.
About Granite Creek Copper
Granite Creek, a member of the Metallic Group of Companies, is a Canadian exploration company focused on the Minto Copper District of Canada’s Yukon Territory. Granite Creek’s 100% owned Carmacks and Carmacks North project consists of a 176 square kilometre land package within the Minto Copper District, including the Carmacks Deposit. The property is on trend with the producing Minto copper-gold mine to the north and has excellent access to infrastructure with the nearby paved Yukon Highway 2, as well as grid power within 12 kilometers. More information about Granite Creek, our properties and the acquisition can be viewed on the Company’s website at www.gcxcopper.com. Chris Ackerman
Telephone: 1 (604) 235-1982
Toll Free: 1 (888) 361-3494
E-mail: cackerman@gcxcopper.com
Website: www.gcxcopper.com
Metallic Group: www.metallicgroup.ca
Skyharbour’s President and CEO, Jordan Trimble commented: “Skyharbour continues to execute on its business model by adding value to its project base in the Athabasca Basin through focused mineral exploration at its 100% owned flagship Moore Uranium Project as well as utilizing the prospect generator model to advance its secondary projects with strategic partners. We are excited to have the opportunity to work with Azincourt as a joint-venture partner at East Preston going forward and will benefit from any upside at the Project with our minority interest. This partnership also complements the recent option agreement we signed with Valor Resources at our North Falcon Point Uranium Project as well as our partnership with Orano Canada at our Preston Project adjacent to East Preston. Skyharbour maintains a dominant land position in the Athabasca Basin with six drill-ready uranium projects.” Spencer Coulter
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Email:info@skyharbourltd.com
Hot Chili(ASX: HCH) is pleased to announce that it has been granted a VAT refund exporting benefit (VAT Refund Payment) from the Chilean Ministry of Economy, Development, and Tourism) for all expenditure associated with its 100% subsidiary Frontera SpA.
Frontera SpA controls the Cortadera copper-gold discovery, the centrepiece of Hot Chili’s Costa Fuego combined copper development, located along the Chilean coastal range 600km north of Santiago.
The VAT Refund Payment significantly strengthens the Company’s cash position in 2021 with an estimated refund of up to A$4 million expected to be paid to Hot Chili.
An initial VAT Refund Payment of A$1.8 to A$2 million (for previously accumulated VAT) is expected to be received in the coming months and further VAT Refund Payments will be received against all forthcoming expenditure which attracts the 19% tax rate (drilling and assay costs etc).
The VAT Refund Payment relates to the future exporting capacity of Hot Chili’s Cortadera copper-gold project where Hot Chili is now able to claim VAT refund payments for ongoing expenditure up to US$258 million over the course of its development activities.
Under the terms of the Vat Refund Payment, the Company has until the 1st January 2025 to commercialise production from Cortadera and meet certain export targets. Hot Chili also has the right to extend this term. In the event that the term is not extended and Hot Chili does not meet certain export targets, Hot Chili will be required to re-pay the VAT Refund Payments to the Chilean Treasury subject to certain terms and conditions. However, if Hot Chili achieves the export targets from Cortadera within that timeframe or its renewal, if required, any VAT Refund Payments will not be required to be re-paid.
Hot Chili had previously been granted a VAT Refund Payment for its Productora copper project in July 2014, which is active and also remains in-place until 1st January 2025.
This second VAT Refund Payment recognises the Company’s combined development approach for Costa Fuego and reinforces Chile’s proactive stance towards providing a stable and attractive destination for foreign investment.
Further updates on multiple work streams across Costa Fuego are expected shortly.
This announcement is authorised by the Board of Directors for release to ASX.
For more information please contact:
Christian Easterday Tel: +61 8 9315 9009
Managing Director Email: christian@hotchili.net.au
Figure 1 Location of Cortadera and Productora in relation to the coastal range infrastructure of Hot Chili’s combined Costa Fuego copper project, located 600km north of Santiago in Chile.
Refer to ASX Announcement “Costa Fuego Becomes a Leading Global Copper Project” (12th October 2020) for JORC Table 1 information related to the Cortadera JORC compliant Mineral Resource estimate by Wood and the Productora re-stated JORC compliant Mineral Resource estimate by AMC ConsultantsCopper Equivalent (CuEq) reported for the resource were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery)+(Mo ppm × Mo price per g/t × Mo_recovery)+(Au ppm × Au price per g/t × Au_recovery)+ (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1% per tonne). The Metal Prices applied in the calculation were: Cu=3.00 USD/lb, Au=1,550 USD/oz, Mo=12 USD/lb, and Ag=18 USD/oz. For Cortadera (Inferred + Indicated), the average Metallurgical Recoveries were: Cu=83%, Au=56%, Mo=82%, and Ag=37%. For Productora (Inferred + Indicated), the average Metallurgical Recoveries were: Cu=83%, Au=43% and Mo=42%. For Costa Fuego (Inferred + Indicated), the average Metallurgical Recoveries were: Cu=83%, Au=51%, Mo=67% and Ag=23%. ** Reported on a 100% Basis – combining Cortadera and Productora Mineral Resources using a +0.25% CuEq reporting cut-off grade
Qualifying Statements
Independent JORC Code Costa Fuego Combined Mineral Resource (Reported 12th October 2020)
Reported at or above 0.25% CuEq*. Figures in the above table are rounded, reported to appropriate significant figures, and reported in accordance with the JORC Code – Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Metal rounded to nearest thousand, or if less, to the nearest hundred. * * Copper Equivalent (CuEq) reported for the resource were calculated using the following formula:: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery)+(Mo ppm × Mo price per g/t × Mo_recovery)+(Au ppm × Au price per g/t × Au_recovery)+ (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1 % per tonne). The Metal Prices applied in the calculation were: Cu=3.00 USD/lb, Au=1,550 USD/oz, Mo=12 USD/lb, and Ag=18 USD/oz. For Cortadera (Inferred + Indicated), the average Metallurgical Recoveries were: Cu=83%, Au=56%, Mo=82%, and Ag=37%. For Productora (Inferred + Indicated), the average Metallurgical Recoveries were: Cu=83%, Au=43% and Mo=42%. For Costa Fuego (Inferred + Indicated), the average Metallurgical Recoveries were: Cu=83%, Au=51%, Mo=67% and Ag=23%. ** Note: Silver (Ag) is only present within the Cortadera Mineral Resource estimate
Competent Person’s Statement- Exploration Results
Exploration information in this Announcement is based upon work compiled by Mr Christian Easterday, the Managing Director and a fulltime employee of Hot Chili Limited whom is a Member of the Australasian Institute of Geoscientists (AIG). Mr Easterday has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a ‘Com
petent Person’ as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code). Mr Easterday consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.
Competent Person’s Statement- Productora Mineral Resources
The information in this Announcement that relates to the Productora Project Mineral Resources, is based on information compiled by Mr N Ingvar Kirchner. Mr Kirchner is employed by AMC Consultants (AMC). AMC has been engaged on a fee for service basis to provide independent technical advice and final audit for the Productora Project Mineral Resource estimates. Mr Kirchner is a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM) and is a Member of the Australian Institute of Geoscientists (AIG). Mr Kirchner has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (the JORC Code 2012). Mr Kirchner consents to the inclusion in this report of the matters based on the source information in the form and context in which it appears. ears.
Competent Person’s Statement- Cortadera and Costa Fuego Mineral Resources
The information in this report that relates to Mineral Resources for the Cortadera and combined Costa Fuego Project is based on information compiled by Elizabeth Haren, a Competent Person who is a Member and Chartered Professional of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Elizabeth Haren is employed as an associate Principal Geologist of Wood, who was engaged by Hot Chili Limited. Elizabeth Haren has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Elizabeth Haren consents to the inclusion in the report of the matters based on her information in the form and context in which it appears.
Reporting of Copper Equivalent
Copper Equivalent (CuEq) reported for the resource were calculated using the following formula: CuEq% = ((Cu% × Cu price 1% per tonne × Cu_recovery)+(Mo ppm × Mo price per g/t × Mo_recovery)+(Au ppm × Au price per g/t × Au_recovery)+ (Ag ppm × Ag price per g/t × Ag_recovery)) / (Cu price 1 % per tonne). The Metal Prices applied in the calculation were: Cu=3.00 USD/lb, Au=1,550 USD/oz, Mo=12 USD/lb, and Ag=18 USD/oz. For Cortadera (Inferred + Indicated), the average Metallurgical Recoveries were: Cu=83%, Au=56%, Mo=82%, and Ag=37%. For Productora (Inferred + Indicated), the average Metallurgical Recoveries were: Cu=83%, Au=43% and Mo=42%. For Costa Fuego (Inferred + Indicated), the average Metallurgical Recoveries were: Cu=83%, Au=51%, Mo=67% and Ag=23%.
Forward Looking Statements
This Announcement is provided on the basis that neither the Company nor its representatives make any warranty (express or implied) as to the accuracy, reliability, relevance or completeness of the material contained in the Announcement and nothing contained in the Announcement is, or may be relied upon as a promise, representation or warranty, whether as to the past or the future. The Company hereby excludes all warranties that can be excluded by law. The Announcement contains material which is predictive in nature and may be affected by inaccurate assumptions or by known and unknown risks and uncertainties and may differ materially from results ultimately achieved.
The Announcement contains “forward-looking statements”. All statements other than those of historical facts included in the Announcement are forward-looking statements including estimates of Mineral Resources. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, copper, gold and other metals price volatility, currency fluctuations, increased production costs and variances in ore grade recovery rates from those assumed in mining plans, as well as political and operational risks and governmental regulation and judicial outcomes. The Company does not undertake any obligation to release publicly any revisions to any “forward-looking statement” to reflect events or circumstances after the date of the Announcement, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. All persons should consider seeking appropriate professional advice in reviewing the Announcement and all other information with respect to the Company and evaluating the business, financial performance and operations of the Company. Neither the provision of the Announcement nor any information contained in the Announcement or subsequently communicated to any person in connection with the Announcement is, or should be taken as, constituting the giving of investment advice to any person.
Novo is advancing its flagship Beatons Creek gold project to production while exploring and developing its highly prospective land package covering approximately 14,000 square kilometres in the Pilbara region of Western Australia. In addition to the Company’s primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its shareholders. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.com
“We’re pleased to get the 2021 drill program underway,” said president and CEO of Azincourt, Alex Klenman. “East Preston has had only 12 holes drilled to date, and these early results confirm we have the right basement unconformity uranium setting with the right rocks, structure and alteration. We’re still very early in the exploration phase, and with the recent geophysics program adding significantly to the drill target inventory we’re confident we’re on the path to discovery. We’re looking forward to continuing the development of East Preston,” commented Mr. Klenman.
For further information contact : Spencer Coulter
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3376
Email: info@skyharbourltd.com
The next Capitalism & Seminar will be held on Saturday, 24th July 2021, in downtown Vancouver. So far, it seems that we will have access to a hall, although with reduced seating.
If you have already registered, I am re-confirming that with a separate email today—if you do not get a re-confirmation, please let me know.
If you have not yet registered, please note that you can cancel it for a full refund any time up to 1st July 2021.
We live in very interesting times, particularly with what I see as an orgy of radical leftism about to start in the USA, something that has never been tried before in a developed country. Some of the speakers and their topics will, of course, change.
