Ann: Korbel Interim Gold Mineral Resource increases to 3.3Moz, page-295

I was one that was disappointed with management for putting out the update when it did. Personally I think they ought have waited until after the results of the remaining drilling at Korbel Block B. Not sure why they did it this way, but cannot change what is now done!

I have decided to hang in here for the following reasons:

1. Interim Mineral Resource for Korbel reflects drilling up to 30 June 2020 only.
2. Results for further 32 drill holes in Korbel Blocks A and B submitted to lab and now forthcoming.
3. Remainder of Block A and Block B, Block B Southeast Extension, Blocks C and D, Cathedral, You Beauty, Izabela and Sweet Jenny is not included in this new resource upgrade and provides substantial resource upside.
4. As wombat has pointed out NVA is highly undervalued on a peer comparison basis: DEG is trading at $680 per ounce, NVA is trading at $46 per ounce. DEG resource is M&I, NVA's is inferred. Even allowing for 20% conversion loss for inferred to M&I NVA is still way undervalued in comparison, and that does not allow for drilling already performed (results to come) which will surely lead to a significant increase in the Mineral Resource.

This will surely approach $500m market cap in next weeks and months with release of drill results, an updated mineral resource statement and re-rating.
Why would anyone be selling now?
IMO DYOR