"To be honest I don’t actually read much of all the Tims and James (or variations of) on here anymore."
There's nothing like an echo chamber to create confirmation bias.
The simple fact is you are bag holding down at $0.60 and now with what is likely going to be a minimum 2 year wait before the SP recovers to a reasonable level.
The SP was well above $1.50 only a few months ago, and people have been vocal about their concerns, but you and others shouted them down - or worse, but them on ignore and dismissed their entirely valid, and now seemingly accurate claims.
Of course, I don't know how many you hold, and at what price, but that 2 years could easily become 3 or 4 years to get the same return when we factor in the dilution from them impending raise.
Some other facts: - The company had the money and the drill rigs to focus on Korbel and deliver a larger M&I resource - They chose to chase their performance options by drilling out RPM - Yes, they found bonanza grades, but that did very little to the share price - They still need to drill out a lot more of Korbel to use more of the resource - which is going to take time and cost $$$ - They still need to drill out a lot more of RMP to prove up the resource - which is going to take time and cost $$$ - Chris has been wrong on almost every single thing he as said in an interview, from timelines to costs and everything in between
- The dodgy raise achieved very little, and actually caused many share holders to leave the register - There is the 15% of the resource that not owned by the NVA entity
"A payback period of 2-3 years always meant an IRR of approx 20% (especially when the incentive options are 20% on PFS or DFS)"
No one wants to wait for a 2-3 year pay back period that is "potentially" going to start in 5 years. Kids would have been put through school, careers would have ended, and sadly some people will pass away over this period.
Despite what you and other say, people want their investments to turn a profit as quickly as possible. No one wants to wait years which then turn into decades - which is what the case is here if you have been holding for 2 or 3 years already.
The market was also expecting Korbel to be a viable and profitable operation independent of RPM as that is what Chris led them to believe.
The delay of the SS was to make the numbers for Korbel more compelling, not to make the numbers stack up to justify an operation that has twice the capex and almost twice the payback time as we were initially lead to believe.
The company has said they are going to pivot to RPM, which is adding years to the timeline based on the company's own admissions.
"I don’t know what the market was expecting."
The market was expecting more.
Not more time, cost and money to be invested before seeing a return.
But more accuracy, transparency, honesty and integrity from CG and the board.
NVA Price at posting:
58.5¢ Sentiment: None Disclosure: Held
(20min delay)