Ann: Investor Presentation - Nova Positioned for Growth, page-112

I discuss each project (whether it be Lithium or Gold) as it comes up in the context of the announcements. Much of the discussion of late has been about the delays in the IPO. I also had the comparison to hand.

The market won't start to appreciate and pay attention to the gold potential until they get drill results that start to support their exploration target. Unfortunately we had the incomplete drill campaign last year. I certainly wasn't happy.


We had exploration plans for Estelle last year at end of February and then more detail provided in April. I expect a similar timeline for when they will release plans. They need to get ducks in a row for any revision to drill/exploration permits. @speedly has told us that management are in Canada (Vancouver) at this week. So they will no doubt be planning for both projects.

I think they will try to start drilling Estelle in May to give them more time. Last year they started drilling end of August instead of the planned June due to the mobilisation delays. Supplier stuff-ups in particular. That delayed start gave them a limited window for drilling.

They have also said (back in December) they will do further geophysics surveys ( this is important for drill targeting alongside chip / channel sampling ). Another IP survey is something I want them to do as they have gaps in the coverage of the data they have.