It's important to remind people that the mining industry is a...

It's important to remind people that the mining industry is a technically complex industry. A mix of science and of engineering. Very rigorous in approach (particularly in Canada).

I've got a good appreciation of what is involved for mining projects in Canada from all the time I have spent looking at and analysing Canadian mining projects. Easily thousands of pages of material I have looked at ( NI 43-101 technical reports, prospectus documents, company announcements, presentations, historic exploration data ). Not only for NVA but also for other investments. I can appreciate the time required to create this sort of information.

The company is working in background on completing all the documentation for the IPO. They said it in the January update. That requires cycles of authoring, peer review, independent review. Documents being provided to regulators, regulators providing comments. Changes made to address comments, new versions of documents issued for review. Document approvals. I know what is generally involved and the time this sort of work takes ( from working as an Engineer for over 2 decades ). There are also various legal requirements and administrative steps. Undoubtedly hundreds of pages of material going back and forth regularly. An IPO is not just a simple set of forms.

In the meantime they've also been working on internal scoping of the project. That process would also be driving plans they need to articulate in IPO documents such as the prospectus and technical reports.

On the Estelle front, they told us in the last operational update what their plans are. We also know exploration plans need permits ( I previously shared the permitting forms used - pages and pages of forms for multiple government agencies). We know equipment and people also need to be mobilised. We also know they need to wait for the spring/summer for exploration activity to commence.

Notwithstanding the work associated with exploration there's also a lot of work on the corporate and business management front that continuously goes on the background.

What we see reported in ASX announcements is just a fraction of the work that goes on in the background.

All we have here is boredom and impatience. Someone sold out for their own reasons. Probably largely driven by impatience or some other pressing need. Apparently predominately attributed to 1 seller from what people have reported.