NVA 14.7% 14.5¢ nova minerals limited

Ann: Quarterly Activities Report and Appendix 5B - 30 Sept 21, page-40

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    In relation to the results being expected, there was a steady flow of news as there were several results that had been released and resulted in a 50% increase in the share price.

    Although the company wouldn't know exactly when the results were due, they would know the dates and order in which their assays were submitted, and be able to infer the order and time it took to be processes.

    Of course this is not a science, but the company had ample cash on hand to be able to wait at least 1, maybe 2 more months before a raise was needed.

    This raise could have been planned, and it could have been done in a way that existing holders could have A) been incentivised to continue to support the company, and B) helped raise more funds from existing holders the help fund future phases of exploration.

    It would have been EASY given they had an indication of the results they were expecting have having expected the drill cores and Chris promoting the expectation of the results in multiple videos.

    I have never disputed an explorer needs money, but how it gets spent, and what it achieves is important.

    This most recent raise was a disaster in that what would be considered company making results - 400m @ 3.9g/t literally had zero effect on the market cap, and actually resulted in a dilution of value.

    I welcome justified criticism, but I don't let the likes of @steve001 get under my skin, I just try to demonstrate where I am right and they are wrong.
 
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