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24.0¢ nova minerals limited

NASDAQ Listing, page-4

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princey37

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16/04/24

09:38

Post #: 73361823
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Originally posted by NovaMInerals2: ↑

Under S-K 1300 rules all MRE's have to have economic and technical parameters attached to them, the same as is used in a JORC compliant scoping study. The JORC compliant global MRE of 9.9Moz Au remains. The S-K 1300 MRE compared to the scoping study resource, which used the exact same parameters other than a US$2,000 oz gold price (where as the scoping study used US$1,850 oz gold price) and the pit slope angles were increased to 50 degrees from 45 degrees from PFS level testing as announced previously. So comparing like for like the pit constrained MRE within these economic and technical parameters has now increased from 2.93 Moz Au per the scoping study to 5.17 Moz Au per the S-K 1300 MRE. These are the numbers that can be used in economic reports such the PFS. The global JORC MRE can not be used in economic reports.

Hope that explains it. Please read the 3rd announcement "Mineral Resource Estimate for US Listing" which explains this more, but i'm happy to answer questions where I can.

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So the next iteration of the PFS will be very, very interesting! In an outstanding type of way.

NVA Price at posting: 29.0¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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Last 24.0¢		Change 0.000(0.00%)		Mkt cap ! $51.11M

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