The trading in NVA remains suspicious to me and as a result I am not worried about the long term. The daily trading pattern is identical with a drop of zero to one cent. "Something is rotten in Denmark."
Just think:
Snow Lake Lithium (LITM) has a market valuation of AUD67m.
Nova Minerals (NVA) has a market valuation of AUD59m.
Clearly that cannot stand long term. NVA owns 37% of LITM so that is worth AUD25m and say cash, etc. of AUD20m. That is a total of $45m.
That leaves a valuation for Estelle Gold deposit of AUD14m or $1.40 per in ground ounce. The cost of finding those ounces is about $4.00 per ounce.
General Chat, page-6322
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Last
13.0¢ |
Change
-0.005(3.70%) |
Mkt cap ! $31.66M | |||
| Open | High | Low | Value | Volume |
| 13.0¢ | 15.0¢ | 13.0¢ | $24.17K | 185.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 99999 | 13.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 14.5¢ | 30000 | 1 |
View Market Depth
| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| NVA (ASX) Chart |