https://gallery.mailchimp.com/22b7ac13fc0d89cedaab1dec6/files/4f9...

https://gallery.mailchimp.com/22b7ac13fc0d89cedaab1dec6/files/4f9ec23c-93f6-4c5b-8635-918d391d5eb7/Nova_Minerals_Research_Update_2_Jan_2020.pdf

Interesting to recap on previous research updates - this was a report from Martin place security from 5/1/2020.

The 12 month target was 0.20c & NVA has continuously grown since then, although the price has been quite stagnant. (Note - The share price did shoot up at one stage)

2.5Moz Inferred resource -> 4.7Moz Inferred resource (Infill drilling being completed on Korbel main to increase confidence & RPM drilling to be commenced to increase resource size). Also, Korbel main was not discovered at the time of the report as Block A + B were separated. This is an increase of 2.3Moz of gold circa 16 months with no sign of slowing down.

I believe POG was around 1600-1670 at the time of the report - now POG sitting at 1895.

A lot more cash in the bank.

Interesting section from the article to keep in mind (Will be confirmed in the scoping study?):
At US$1500/oz the NPV5 after tax is $US1,020m or US$425/oz. For Korbel to be developed with similar costing its 53% operating margin
at US$1500/oz from 0.43g/t at 75% recovery would give some attractive numbers as follows:-
100,000ozpa Au from ~10Mtpa = US$80Mpa
200,000ozpa Au from ~20Mtpa = US$160Mpa
300,000ozpa Au from ~30Mtpa = US$240Mpa

Don't believe this report takes into account the SLR - also, the TNR & Rotor X investments that NVA have made within the last year.

Can someone refresh my memory also on Block C & D? As I cannot recall any news on either.

Bright future ahead all.