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28/09/21

07:24

Post #: 56390531
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Originally posted by Atomic Toad ↑

The latest CR obviously very unpopular for good reasons.
I've always been quite supportive of management.
After all the last 18 odd months have been rather difficult
with covid causing major delays to operations. The Nova
team have continued to build on the Estelle operations
laying a base for the future. This much we all know from
the marginal announcements the company has provided.

So have they lost the plot with the latest CR?

Lets look at what else has happened in that 18 month period.
We have a large share holder and part of the management team
resign after being charged with insider trading. Definitely not a
good look far as the market is concerned.
Chris in numerous interviews making big statements on Estelle
which have fallen short in reality. Korbel upgrade below estimate
and would have been woeful only for reducing cut off grade.
Holders looking forward to a good news flow only to be kept in the
dark month after month. Buying into electric helicopter company
which gold investors did not understand or want. Deciding to
become share traders in Nova shares with the buyback. Now
this decision is the most worrying one in my opinion. It actually
demonstrates the lack of a long term plan. Also the lack of ability
in what they were trying to achieve. To be using company funds
in a buyback at 14c end buyback causing the SP to plummet to 10c.

Just think about that.

Then they come out with is CR because................wait for it..............
now is a good time to raise at a big discount with investors knocking
down the door for shares. Strengthen finances because markets are
going to get tight and it will be harder to raise funds.

Really they can see this when they could not run a buyback without
losing money?

Seems to me these guys are getting swelled heads and notions of grandure
well before time. Like I said in another post seem to have lost the plot somwhere
along the line. The treatment of long term holders is ordinary IMO.
Unfortunately for me I ve been too slow to get a grip on this situation as I feel
have a number of other long term holders.

GLA

Expand

Certainly 2021 has not been the year we were all expecting, so far.
The long delays in drill results have tested us all, nva has not been alone in that regard. How many companies make it to be producers, this has been their stated goal from the beginning, I’ sure there will be many greater challenges along the way and we will loose many punters as it won’t all be smooth sailing.
I thought the RotorX deal was a loan?

NVA Price at posting: 14.5¢ Sentiment: Buy Disclosure: Held
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