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rlj

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27/05/21

13:04

Post #: 53457080
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Originally posted by nathanmaca: ↑

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.

Expand

NVA - 20201123 - Evolution.pdf

Heres another Broker Report on Nova, this time from November 2020.

Price at the time was $0.22 with a target of $0.40.

Interestingly on Page 4 they provide a breakup of their $0.40 valuation, which at the time was

Excluding the $0.15 for the increase to 10Moz, then their idea fair value for 5Moz would be $0.25 all else being equal, but as you mention it doesnt seem to account for the other investments at hand, and doesn't account for the developments in ore sorting etc. since Nov 2020.

Last edited by rlj: 27/05/21

NVA Price at posting: 14.0¢ Sentiment: Buy Disclosure: Held
12 Upvote

2 Great analysis

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