NVA Valuations for 2019, page-29

This is what they said in the last update about the progress of the IPO:

The Snow Lake IPO process is fast advancing it’s final stages with the company working on the prospectus and regulatory obligations, with sufficient funds raised to date enabling the IPO process to be finalised.​

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That process has kicked off with the regulator. Just early administrative stuff.

Prospectus can be expected to be in the order of 150 - 200 pages. Technical report in the order of 50 to 100 pages. Numerous other documents to prepare. All of this needs to be drafted, reviewed by the company and their brokers, reviewed by the regulator. A time-consuming process. Drafts of technical reports were initiated months and months ago apparently.

The TSX-V index is showing signs of recovery. Better conditions for an IPO ( see 6-month chart below ).

IPOs are best kicked off in a rising / buoyant / bull market. As as I've said before I would prefer NVA only initiate the TSX-V IPO when the market conditions are right. Better market conditions will mean better share price performance once the spinout lists.

6 Month chart for TSX-V




5 year chart for TSX-V