Thanks @NovaMInerals2 for the reponse.1. While this is good to...

Thanks @NovaMInerals2 for the reponse.

1. While this is good to hear on the one hand, on the other it doesnt change the "fact" that we have an inteerest in a company that "Voluntarily" filed for Bankruptcy protection and NVA shareholders were none the wiser. I certainly understand it would have been embarassing to have had to notify of this "fact" so soon after lauding the company on 23 August 23, but it was a "fact".

https://www.rkc.llc/post/rotorxaircraftmanufacturingcompany#:~:text=On%20October%2016%2C%202023%20ROTOR,be%20available%20to%20Unsecured%20Creditors.

If the investment were material to decision making and it later transpired that the bankruptcy were not dismissed and rather accepted, then one might have a case against the company for not informing the market when they invested more in early October (as I did). Lucky for everyone, it is immaterial and appears no harm done, other than another small dent to confidence in leadership of our ship.

I agree with the advice of our advisors that this investment is immaterial and should not be given more focus than it deserves. But this alone is actually an example of the poor decision making and promise building that the existing management (Chris and Louie in particular) decided to do when this investment was first made (loan for shares). They "over cooked" the benefits. They made it more material than it should have been. They provided the opportunity for negativity where an underselling would have left the upside possible, but not raise expectations. Expectations that they created, not shareholders. So yes, management should be held accountable for this creation and subsequent de-struction of this as a focus. The 23rd August release itself sought to build up this immaterial invetment into something bigger than it should have been, so again, I stand by my assertions that management need to be held accountable for this mess they have created for themselves and it all starts and ends with communication and expectation setting.

I accept I was wrong to assert that management didn't know, my bad, that is not acceptable and I apologise.

2. Truly, I feel for you. You are not the target of my concerns. I have stated my concerns regards Louie previously and I stand by these, not least of which is he is a poor communicator (public speaker) as is evidenced by his own actions. We need confidence. Hard work that appears to achieve little does not build confidence. Confidence is not something that is easily built when destroyed. I have met many hard workers who are not the best people for the particular job, and no matter their financial interest in a company, knowing the right time to move on and put in place a better option is something I respect far more than muddling along (hard or otherwise).

The strategic review documents released this week do not make me feel any better unfortunately and if it involved hard work, I am unimpressed with the content and the story it tells.

I do not get a clear sense of focus.

When we just had Estelle, I saw focus and optimisation of options was clear. Heap leech was the obvious solution for bulk low grade tonnage.
Ore sorting entered the picture as a means of optimising recovery rate and given the nature of our deposit, this made perfect sense, al-be-it it introduced a level of discomfort due to relative newness and introduced higher power requirements, capital investment and what looked like additional complexity over heap leech alone.
Then we drilled RPM and holy sh****. The eyes opened wide and I remember thinking this is great but what will this do to the story of our remote, simple, well understood bulk tonnage deposit story. In hindsight I should have trusted my instinct and got out.
RPM has become the next shiny thing, (a valuable thing and dont't get me wrong, exciting in-time), but it has been a very distracting introduction.
RPM started as a feed into Estelle to top up the grade to make the plant more efficient, but has ended up becoming some unknown, anything from a small starter plant before moving onto Estelle to a big capital investment. It now needs all the attention, while the simple story sits in the background, unclear as to where it sits. Where does the MRE come into this, when do we get a refined story. I felt this was coming, but then....

Antimony.... the next shiny thing.
FFS. When are we going to focus? What is the strategy?

The strategic review reads as a summary list of all the things management have talked about as options for the last 5 years and I actually feel we are further away than ever.

Yes, the market for explorers and developers is poor accross the board. But there are also clear markers in our sharprice history where the market has spoken and immediately following management decisions, announcements, the price has dropped. This is not a one off, this is a pattern. Management need to take responsibility for what they have done, not how hard they worked to do it.

My core question is what will be done differently going forward to build confidence? All I see again and again is self made missteps, and yes, management is accountable for those.

3. The transparency here is appreciated, but this once again highlights not being transparent when it matters and so easily looks like using precious shareholder funds to invest in yet another unrelated company where the payoff is uncertain. Why not do the work and get the cash so we can invest in our project? (I think I know the answer, but it doesnt change the fact we have $1m less cash to spend on developing what I actually invested in and they got the benefit of not investing cash in their own project) If we wanted to invest in a Coal company we would ask management to do so. Not the message you want to be sending to sharholders who will no doubt be called on to put up more funds sometime soon (US listing or otherwise). If that is one of the reasons we are so busy, im sorry, im not impressed. Does this also explain why it didn't seem we had much activity or focus on our own business this last 12 months? Focus, focus. Perception as reality?

Finally, I am passionate for what this company could (and still think) can be, as I know you are. I too have invested 7 figures (last purchase in October 23), but the transparency and communication we get still leaves me (and no doubt other investors) less inclined to provide more. By logic alone, this feeling must be in some part responsible for the share price being down (not simply explained away by the market).

This is a confidence game, and right now I know my confidence is at an all time low. So too, by the last couple of days response to the strategy doc, is the markets confidence down. We will need confidence to raise the funding required to get the job done, and the one area I am most lacking in confidence is that we have the Executive leadership to get us there. Hard work is not enough, smart work is what I value most. Keep doing the same thing and expecting a different outcome is insanity. I only hope my continued investment and future investment is not a similar type of insanity.

*I post here as I believe transparency and open dialog is the best way to develop confidence and trust. My frustrations should not be read as personal attacks, but rather feedback, which I intend as a gift for those who seek to improve themselves and their performance. My perspective is but one, but I do not feel alone in what I express. Private conversations are one thing, but what we do and how we take accountability in public is real. I appreciate your doing so and respect your personal efforts to realising our potential.