I'm not sure why this keeps getting brought up. I participated...

I'm not sure why this keeps getting brought up. I participated in this raise as well, which was before I was a director. The simple fact is that the company needed funds then, and at the time the news was all talk of the next GFC coming possibly within the week. Some holders and investors approached the company with cash and the company decided to do a quick raise while the cash was there on offer because if the expected credit crunch had occurred then funds would be difficult to obtain. Luckily for the world, the credit crunch didn't happen again, but Nova was then fully funded. Like it or not exploration companies have to go to the market or debt to fund their programs. At Nova we are very conscious of our cash and run on extremely tight budgets which are focused purely on increasing the fundamental value of the Estelle Gold Project and we only raise funds when necessary with this objective in mind. Like I said before...we are here to build a globally significant tier one gold mine.

As for the bonanza drill results from RPM-005 of 132m @ 10.1 g/t Au a week or so later, you need to understand that the company doesn't know the results until the assays come back QA/QC from the lab. None of the previous drill results had come back with anything like this record result and the drill core itself didn't show anything different either. The company actually went into a trading halt as soon as the results came back so a further round of testing could be done by the lab to confirm the incredible assays were correct. I know this as I have gone back and read the board papers and other documents which discussed this at the time as I was not a director of the company then. So despite the conspiracy theories the company was not aware of the RPM-005 result at the time the necessary CR was completed.