From The Gold Report -

TGR: What else do you like?

BM: My favorite investment has to be Novo Resources Corp. (NVO:CNSX; NSRPF:OTCQX) in Australia. Novo may have a Witwatersrand-type find on its hands. The stock was $1/share three months ago and it's about $0.55/share now.

TGR: And why did it go from $1 to $0.55/share?

BM: I suspect some fairly big investors had to raise money and sold off some of their holdings. None of the selling of the last two months has been rational. It's been forced selling.

TGR: Have you visited the company? What makes you so positive about this one?

"People worry too much about conspiracies and manipulation. They should look at investment decisions rationally and decide for themselves."

BM: Witwatersrand was a very nice system and produced about 2.5 billion ounces gold, and the project that Novo Resources has in Australia is bigger. President and CEO Quinton Hennigh and I are like brothers. The only thing we disagree on is that he keeps calling the geological structure Pilbara Paleoplacer and I tell him it's not. It's a precipitation deposit. Either way, I love what's in it.

What this market is lacking is a catalyst. It's lacking a really giant discovery that gets everybody's attention. I think Novo Resources and its Marble Bar project is going to be that catalyst. Novo Resources is in a joint venture with the Creasy Group, which is run by Mark Creasy, an Australian billionaire who is one of the top prospectors in Australia. Creasy and Hennigh are convinced Marble Bar is the next big discovery.

TGR: If it is a Witwatersrand-type system, will that make it easier to process the ore?

BM: The gold was precipitated out of salt water and it is found in conglomerate layers. Literally all you have to do is drill straight down. So it's very cheap drilling. Novo did some core holes to measure it and came up with this magnificent buckshot pyrite, which is one of the things you find in Witwatersrand systems. It's very important from a technical point of view. Ore processing is the same as with any other type of deposit. Ore discovery is a lot cheaper and easier.