NVA 3.70% 28.0¢ nova minerals limited

Mate it was us retail investors who funded the company through...

  1. 463 Posts.
    lightbulb Created with Sketch. 306
    Mate it was us retail investors who funded the company through share price placements and by exercising options in the early stages of the company. My money contributed to those 10 mil ounces and paid their salaries. So maybe pull your head in. I agree with incentive options as long as they incentivize the company to make the share holders money. The fact is that there have been dumb decisions along the way, which I have defended and forgiven, but there comes a time when enough is enough.
    Retail investors are the back bone of the junior explorer during the year that no one else wants to touch them. Instos will provide cash then dump on market at the issue price becasue, yep you guessed it, they received a free attached option. So they ride any upside risk free. It is the little guy who takes it in the backside. Now I'm not talking about traders here who flip, but at one stage I held 2.4mil shares and options here. Which are now either underwater or close to break even. what have I gotten for my loyalty I ask? The answer is dilution to the moon. You know who isn't diluted and who has been taking a pay packet the whole way, yep you guessed it the directors.
    Now sure, my mistake. I should have sold out along the way. I own that. But I spent a lot of time communicating with a director from the company over the years and I am a loyal person. So I bought the dips along the way to show my support. Don't get me wrong, I thought I was getting a deal and would make plenty of money out of it.
    I was wrong and it is one me.
    I guess the real issue arose for me when last year they incompetently handled snowlake. I realized along that journey how power hungry and beholden they are to our previous director Avi Kimmelman. Their plans now are to sell DSO direct to the Chinese. We had an mou with LG Chem for Christ sakes. I would love to hear from Mr Bentley where that is now? I can tell you straight that LG Chem will have walked from the deal and we are now beholden to selling DSO to Chinese again. Why the Chinese? With the inflation reduction act in the USA and canadas stance against Chinese miners, siding with the Chinese here is a recipe for disaster. So I'm my opinion the value of Snowlake just took a haircut as well. And do you know why? Guess what, it is to support Avi Kimmrlmans family who you guessed it are now the directors of snowlake. Don't believe me, then reads the court docs from the fights between previous snowlake management and the concerned shareholder. Open your eyes.
    Anyway, I will say no more on this matter. Do what you will. I have heavily invested here and in Snowlake. I will ride this out and will exit when I feel I have fair value or when I see better options. Good luck with your investments. The end of the day we all just want to make some money , not give out dollars to pay for directors to enrich themselves.

    Everything I have said is my opinion and my experience from holding here the last 6 years. Make your own decisions.
 
watchlist Created with Sketch. Add NVA (ASX) to my watchlist
(20min delay)
Last
28.0¢
Change
0.010(3.70%)
Mkt cap ! $59.63M
Open High Low Value Volume
28.0¢ 28.0¢ 28.0¢ $6K 21.42K

Buyers (Bids)

No. Vol. Price($)
1 2000 27.5¢
 

Sellers (Offers)

Price($) Vol. No.
28.0¢ 4233 1
View Market Depth
Last trade - 16.10pm 03/05/2024 (20 minute delay) ?
Last
28.0¢
  Change
0.010 ( 0.00 %)
Open High Low Volume
27.0¢ 28.0¢ 27.0¢ 5170
Last updated 11.32am 03/05/2024 ?
NVA (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.