Ann: Thompson Brothers Lithium Project Resource Upgrade, page-53

I used to have shares in TEG an oil company in the Perth basin. They had a gas play in QLD. They hived that off as a separate company and called it State Gas, retaining about a 30% interest in the spin off company. State Gas launched at 50 cent, shares now worth about he same , even though it has achieved some good results. TEG is about 2.5 -3 cents a share. Even though their share in State Gas is worth a few million , it has never really impacted on TEG's SP. You can look at other Spin off's Eg: BHP and their Spin off SOUTH , has never really impacted. The thing is , Don't expect Snow Lake to impact on NVA's SP - as their interest in TNR has not really impacted. It's a separate entity. Sure it might add some value and a bit of comfort but for NVA it's all about Gold and whether they can convince the market about low grade mining for profit.