Offtake and earnings, page-65

We are continuing to see the path being cut in Joint Ventures ,graphite take up ...and investment drive....All coming together...the snowball rolls on and continues to pick up steam!!!!
As a retired International Fund Manager in equities I would imagine yet more institutional investment will "very gradually take place"...and that's good ...as they will generally hold for longer periods and tighten then supply of available shares ...I note that at writing this ...that about three times average daily volume of 3 million shares have been done and now over 12 million shares have been done .The latest price to book value is now about 1.5 times and NVX is one of the best shares in price to book and quality of management ..again a price in excess of twice book enters a questionable area of good value ie. a price that would hold tight on value and recover quickly from any market correction..On latest developments the price could rise a further 20c without being out of whack with underlying fundamentals ...of course great value is always under book value but I believe expecting to get back to under book value levels is only possible in a terrible crash ie 60% market drop ...but not probable under any other circumstances ..I should point out that a 10%/15% volatility is possible at all times from all good value scenarios ...so long term holders must accept this Market Dance in the price .
From of course prices that far exceed an average 10 year market PEx or massively exceed twice book value ..such as the $12 with no earnings that we saw in NVX price ..we can always accept a descent to reality ...I believe that over the next 3 to five years we will far exceed the old high of about $12 as NVX continues to grow assets ,revenue and profits.
To benefit from the growth ahead in the price of NVX ...Patience ..Patience ..Patience
As the famous Charlie Monger and many successful investors advocate ..when you find a good company best to sit tight as you buy slowly into strength ( always following good fundamental value!!!!) and let Good Management gradually do their job!!!!
All the Best to All