Righto, lets make this simple for newcomers and the negative...

Righto, lets make this simple for newcomers and the negative holders that seem to be so prevalent around here.

There is nothing nefarious, wrong or suspicious with this announcement. If you have researched the stock, you would know that the issues here were announced in 2022 and approved at the AGM on 29/11/2022. See table below.


Note the asterix. Yes, that means these Options are subject to vesting conditions. See here



So yep. Nothing nefarious, suspicious or troublesome to see here. Actually means nothing at all until the vesting conditions are passed (for everyones sake I hope this is soon so I can stop reading drivvel on this website and these threads). The rem based issues have higher pricing so again, so I imagine when these do become valuable the talk on this site will be all roses again and momentum might be building to approach what I see as significantly higher fair value.

Ok, that was the simple, calm the f down. HOWEVER our patience is being tested and all is certainly not as good as could be......

There is one thing of great concern to me and I hope management is seeing, hearing and planning to respond that is easily addressed.

Timely and clear announcements/communication

1. This announcement should have been made on the 30/11/2022 (day after AGM). Why?
a. Management said it would be (refer proposed issue date in the original announcement 30/08/2022; and
b. By spreading out the timeline of communication of Options issues causes distrust (admittedly in predominantly uneducated, impatient and suspicious buggers who, despite your aligned interests to theirs, think they are being stiffed by management while they sit in the comfort of their home or in a shi*ty office job, typing negative posts with "Sell" Sentiment on a stock they hold, and wondering why there is hesitation to buy the stock. Go figure!)

2. Relying on the absoultely sh*t format of ASX announcements alone is asking for misunderstanding and issues. The whole reason i'm doing this post is because I had to reconcile it for myself as it didn't make sense we were issuing these now (thought we had after AGM). If it was confusing to me, I imagined all the potential investors coming here to learn more about a stock I value and hold a significant interest in, only to read the simplistic and illinformed comments and potentially make a poor decision. (having said that, the ill-informed comments likely eminate, at least to some extent, from the poor communications).

3. Silence is ok, we must be comfirtable with the periods between announcements, but we also ought to know management are taking appropriate actions in response to issues being experienced by the business. It is reasonable to me that many shareholders don't understand why the delays to sample analysis are occuring:
a. We started sending samples to 2 ALS labs Fairbanks and Nevada (announced 1 Feb 2021) to speed up delivery
b. We implemented prep labs 26 July 2021 to cut down on the cost of sending samples and make easier (less work) required at labs; and
c. We know COVID and resourcing at labs remains under pressure accross the industry.
but then we:
a. On 28th Nov 2022 tell shareholders we asked labs not to forward any results (gee, wonder what they prioritoised during that time)
b. On 22nd Jan 2023 tell shareholders 5,000 m Cathedral and 10,000m Korbel are on standard order (wonder why they are taking a long time)

FFS, that is worth getting a bit worked up over.

Time is money, and while I am appreciative that our discovery cost per oz is an "industry leading" less than $4 (16 Jan 2023), and this remains below our current market cap per oz is higher at $8 per oz (@9.6m oz). Time is also a measure over which we can see patterns. Patterns of behaviour that unfortunately in thie case of Nova, demonstrates poor communication that raises unnecessary suspicions and lack of strategic thinking.

If I really wanted to be facetious, I would accuse management of deliberately driving the shareprice down so we can loose the nervous nellies, enrich ourselves by buying low so we can release the news we all know is coming and BOOM, happy days. But I am not. OK. Sorta hope is true tho

I remain heavily invested and will do so for the years ahead as I see $8 per oz as bargain territory and as I only see the ecoomics getting better, the gap between $8 per oz and $100 per oz (in ground) is just too tasty to ignore. Was happy to buy at higher prices than today, so even happier to do so today. Patience has always served me well in the markets (as a long term investor), but even I will admit, I am being a little more tested now than I have in the last 20 years. Keep smiling and GLTAH.