Agree completely. Extract from 29th February 2024 publiched Half year report.
Apparently the recent news of bankruptcy filing was less relevant then the recently announced eVTOL market entry which certainly did get a mention in the 25th August 2023 market release below. If I am to read the above announcement correctly we have now also lost 33% of the savings to be had from deploying this "unprecedented" technology. Good thing I wasn't counting on this in the valuation of NVA. Why no announcement on the Bankruptcy? Assume management didn't know till now either. Add this to the reasons for management and or Chair to be gone.
I truly wish management would focus on the gold. Last time I asked, everyone knew what gold was, is and why it is useful. Last time I looked, the gold price was at record highs and we have shed loads of it sitting in Elephant country. The last time I looked, a company that can't simply communicate all the excellent attributes their company holds, sacks either their CEO or their Chair and replaces them with people that can build the confidence lost by the former. The last time I looked, management are expected to take responsibility for their actions and inactions.
While I retain confidence in Chris, I long ago lost confidence in Louis Simens and given he cant even be trusted to read his own statement (The last time I looked at any company (other than NVA) the Chairman when attending a meeting of shareholders actually reads their own statement to shareholders), it appears the Directors have lost confidence in him also. Time to trust your instincts
@NovaMInerals2 and let Louis and/or Chris go so we can get a fresh start and actually realise the extraordinary value NVA represents.
The last time I looked, investors value honesty and transparency in management and decisive actions when shareprices clearly underperform and there are clear signs that management have made poor decisions or are not on the ball (as in this case).
(20min delay)