Estelle Gold Project Resource Value & Revenue Estimates, page-40

Gold mining inc. actually acquired the project in 2015 for a steal at the absolute bottom of the commodity, gold and HUI cycles. Kudos to them.

Many mines and advanced exploration projects are acquired for a song in downturns for a number of reason.

Few examples closer to home from a quick scan.

TER - blair athol
GMM - 50% MT cattlin
RRP - Foxleigh mine
NST - a number of barricks producing gold mines and paulsens
NCZ - century mine
RIO - sale of Mozambique coal assets (acquired $4b. Sold for $50m)

Same can be said for NVA.. after millions of $$$ spent nova snapped it up for a song.

One thing is for certain that everyone agrees is management are proactive and building a fundamental base.

These projects are about who can take them to the next level is key and I think nova management can. See kinross history https://en.m.wikipedia.org/wiki/Kinross_Gold the fort knox deposit sat idle before kinross took it to the next level as a startup and their first mine with similar grades as Estelle - the rest is history.

Can the nova team take estelle gold project as did kinross fort knox? My money is backing that they can.