You are correct
@bobbym. A lot of traders ( and investors ) do not appreciate the delays in getting drilling assays back from the Labs given the Covid situation in America ( thanks to the worst CIC in American history -- thank god the EXIT sign above door is FLASHING).
Sure --Chris did say that more drilling results were expected to be announced before year end but the delay is obvious and beyond their control. We may still get an announcement prior to Xmas , but if not there will be some exciting numbers announced in January I am sure.
In addition to the Covid impact there is also the markets winding down as the Xmas holidays approach which tends to reduce buying interest and increase selling for a bloody number of reasons. That said -- the short term shenanigans with price movement pales into insignificance when one looks at the progress to date and expected in 2021. Additionally the Gold price is primed to explode to the upside in 2021 given that the EU and JAPAN will be deploying stimulus packages of several trillion $ each and the US will most likely be announcing their stimulus package of around $1Tr prior to Xmas. Also nominal interest rates worldwide are close to ZERO and real interest are negative after allowing for the current inflation rate.
Some more stimulus packages to the tune of $2TR to $3TR will be further announced by the Biden Admin soon after 20th January.
This coming money printing is needed to avoid a recession ( due to the Covid impact in the US & EU ) and that will ensure that real interest rates will go further into negative as inflation rises , and Gold will continue significantly upwards.
All these factors and the drilling programme of 80,000 metres that the Company has committed to undertake during 2021 to me translates to
the best is ahead of us from here. The recent CR was an excellent move by the Board and the Company is well cashed up to undertake the full 2021 drilling programme. The CR, as is typical, will dilute the SP in the short term (and thats JUST ABOUT RUN ITS COURSE) , however in the medium to long term that dilution will disappear as the Resource inventory increases significantly. In my view the SP retracement is almost over and .135 to .145 is strong support area and will hold and the next upward thrust is about to unfold.
Barring a Black Swan event the best is yet to come for NVA and its owners/ the SH.
THIS IS NOT FINANCIAL ADVICE --- ALL IMHO.
DYOR.
(20min delay)