Ann: Nova to Unlock the Value of its Lithium Projects, page-73

‘The directors have over a. Million reasons why this will work out... I think their view is that the value of the asset in Canada is recognised as having more value on TSV than ASX... simple.’

‘simple’ for some. But I take the view that it is simplistic to ignore the market and simplistic to reason that just because directors have skin in the game you (and the rest of us) and they (the directors) are in the same position of influence. Remember this will be a Canadian company. It’s fate will be controlled by mostly Canadian directors who will be out of the legal reach of the current NVA shareholders.

Besides, if being registered as a Canadian company was vital to the future prospects of this project then all manner of Australian companies would spin their off shore assets into dedicated local registered entities. The serious money for mining start-ups is still New York, London and Hong Kong based. So the money market story is weak and if the value is there then investors will provide the money be it ASX or TSV or even DAX (Germany) where a number of Australian companies are dual listed.

I don’t have an issue per se with such a legal structure like a holding company. But I do treat the current actions of the directors in not providing in species shares in that holding company as a financial slap in the face to NVA shareholders.

I bet the news flow from Snow Lake will be a secondary consideration and filtered too. Look at AWV as an example of what can go wrong when directors are less than forthcoming on the status of a North American project with initially wonderful prospects that turns South and shareholders are provided with minimal project information that costs them dearly.

Broosta