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23.0¢ nova minerals limited

Dear Wombat, It looks like that your oppies start shining and...

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serena

8,664 Posts.

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28/02/19

15:54

Post #: 37606359
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Originally posted by wombat777: ↑

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.

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Dear Wombat,
It looks like that your oppies start shining and show the lead ahead the underlying shares (head). Could it mean that investors/traders get back their confidence after the management did two million shares buyback at 0.016 and 0.017 yesterday. In the past, head leads to oppies. This time oppies may lead the head. Buyback is a signal if it is executed properly and consistently.

NVA Price at posting: 1.6¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 23.0¢		Change 0.000(0.00%)		Mkt cap ! $38.96M

Open	High	Low	Value	Volume
24.5¢	24.5¢	22.5¢	$47.11K	201.5K

Buyers (Bids)

No.	Vol.	Price($)
1	14941	23.0¢

Sellers (Offers)

Price($)	Vol.	No.
24.0¢	6825	2

View Market Depth

No.	Vol.	Price($)
3	91898	0.155
5	95167	0.150
3	103384	0.145
3	320000	0.140
3	49358	0.135

Price($)	Vol.	No.
0.165	66000	1
0.170	20036	1
0.175	10000	1
0.180	38701	5
0.185	5555	2

Last trade - 13.37pm 29/11/2024 (20 minute delay)

NVA (ASX) Chart

Dear Wombat, It looks like that your oppies start shining and...

Top Stories

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History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

Resolute shares bounce back as second payment made to Mali government to secure workers' release

Buyers (Bids)

Sellers (Offers)