Source: investingmatters.co.za --- Tuesday, October 03, 2017
October 3, 2017 Gold mining stocks have been treading water for what seems like forever. But in a remote part of Australia, a potentially big find by a tiny exploration company is generating some welcome excitement. The story in a nutshell: Back in the 1990s, Newmont Mining geologist Quinton Hennigh came up with a novel theory about the origin of South Africa’s immense Witwatersrand Basin gold deposit. He left Newmont and spent the next couple of decades searching for similar geologic structures that he hoped would contain similar amounts of metal. He eventually found one in a remote part of western Australia, and formed Novo Resources to explore it. A few more quiet years ensued. But in mid-2017 the floodgates opened as reports of serious deposits – including large numbers of gold nuggets right near the surface, documented on YouTube – caught the imagination of some heavy hitters in the gold world, turning Novo’s stock into a ten-bagger and taking several other explorers with nearby claims along for the ride. Now lots of people are paying attention. Here’s an interview with 321gold’s Bob Moriarty, an early Novo fan: Bob Moriarty isn’t Selling His Novo Shares Novo Resources (TSX-V:NVO, OTC:NSRPF) shares caught rocket fuel the week after my last interview with Bob Moriarty when videos of prospectors using metal detectors at Purdy’s Reward made the rounds on the internet. We had the pleasure to catch up with Bob a couple of days a ...
from Australia http://ift.tt/2ylJQKU
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