Sorry Tim, but owning a stock you clearly know so little about is sad indictment on you, not the market.
The Australian market, for some years now, has not understood the economics of bulk low grade ore bodies. Do yourself a favour and look it up on Google. You dont have to believe the company, your own research will determine that there was actually a basis for your investment, even if your very first post on NVA on Hotcopper was asking for advice from the punters and it appears you followed without this information to back up your decision to invest (clearly at a higher price).
You will find many examples, in the very region NVA is, where 10's of millions of Oz deposits of grade lower than 0.5 are economically mined for years and delivering great profits to their investors. NVA even provides the names, but if you dont believe them, just find them for yourself.
All this self indulgent blaming of the market, blaming management, or any other excuse for being in the red is tiresome.
I understand the investment, I understand the economics and I understand the risk. I also understand that most in the Aussie market dont't, and while that might be frustrating in the short term. By the time the economics are clear and the profits start rolling in, it will be me and others like me smiling as we knew what was made plain for all to see (if only they do a little research themselves). NVA in my view is bound to make plenty, given time, and while I might wish for that to be sooner, the incentives just approved for management lay out the expected timeline rather well. Management also have a habit of playing to their incentives (why not, that is what they are there for), so if anything, back test the past incentives with management performance and you will all find a pretty good alignment.
Time is a critical element of any investment and complaining that you dont double your money every 12 months is ridiculous. Good luck if you do, but in 20+ years of investing I can tell you now my 5-10 year investments in the right stocks has outperformed my early years of switching to the next best thing many times over.
Be inquisitive, be prepared for short term bumps and most of all be patient and if you did the right thing by yourself, understand that you know something others are missing, then load up when you can, for it is the ability to see what others are missing is exactly why stocks can get re-rated and do so while you are holding.
All the best to everyone holding here, and heres to the Directors getting their shares issued when they start producing in the next 4-5 years. I'll still be holding by then, retired early too. Much to like about this last update, especially the higher than expectations numbers. Well played Chris and co.
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