NVA 2.70% 19.0¢ nova minerals limited

I re-read it second time and paying more attention to the...

  1. 261 Posts.
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    I re-read it second time and paying more attention to the language l liked it more. it is 12 % interest - not bad ROI - payable CASH monthly or compounding in Nova's election. Worth to read the entire Terms, it is quite good for NOVA and secure. Also, after looking at the 3 x directors interest by on market share purchase - about AUD $22,000 - gives me confidence. The directors had to have a good idea about this prospect, even if it was not finalised and would not invest their own money unless they are confident about the ROI. By the way they paid higher price on market than the price is today $0.025. They were also aware of the corona virus and sure they considered various outcomes and impacts on the business. Regrading to the suspension of the drilling it is not due as anyone infected, but it is a preemptive action, which is fine, it just means some delay. Regarding to the purchase I liked the CEo's comments "NOVA CEO, Mr. Chris Gerteisen said: “With the Estelle Gold Camp remaining our core focus and will recommence our exploration efforts as soon as the virus subsides or health officials’ advises it is safe to return. In the interim, we couldn’t avoid the opportunity presented at this time with Torian’s tenure along the prolific Zuleika Shear, outside Kalgoorlie. We believe this transaction represents a compelling value equation for both sets of shareholders and synergies. Nova will offer its expertise in the exploration and development of precious metals projects to assist in increasing resources as we have done at the 2.5Moz Estelle Gold Camp with extremely low discovery costs. Nova brings a tremendous depth of experience, which will enable Torian for further discoveries as they commence their 2020 field activities" Torian is short on cash and needs NOVA's expertise and we can get almost 20% of the company on the cheap. So I classify it as a good deal. Just to clarify while the oppies went beserk downwards, I happen to load up on more. Thanks for the opportunity to the "Corona special" sellers.
    Last edited by arsenal54: 26/03/20
 
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