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11/11/22
19:53
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Originally posted by Magic2000:
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love all these comments relating nva board and LITM board. Don't know why the two companies need a ceo considering hc can decide everything for them and more importantly run the companies better than them (when that is hc posters are not whinging about sp bring down). CG is the right person for NVA, no one better to get us to where we need to be. He has been transparent (mentioned all options are on the table in the past re joint venture, selling it off or going it alone), his knowledge of the project is second to none, his local experience and contacts is irreplaceable. Is he perfect, no. Is there such thing as perfect? I think not. Personally I feel NVA have made a couple of poor decisions such as that notorious CR and the share buy back but I also understand why the share buy back was implemented and I respect NVA for trying to keep the sp up. Nva has been surrounded by some toxic ppl around the board as we all know from Avi being found guilty of insider trading to further investigations into decisions made at the company and I'm pretty sure the board knows the ASX will scrutinise every announcement / decision so they must dot all their i's and cross all their t's. Overall, the sell off of LITM was a master stroke so the hc wannabe CEO's got that wrong. The investment in LITM to begin with and the split off also has been a master stroke as the NVA coffers have been filled thanks to this. Rotor X investment was zero dollars from our pocket for 10% of the company and this will no doubt come in especially handy once we are producing. ASR we are again in the green even after the massive market downturn so another great investment which will hopefully continue to grow and fill nva coffers. These investments have brought in millions and millions of dollars avoiding a need for a CR in 2022 which is a huge achievement considering the aggressive drilling campaign. NVA will at least double and possibly triple it's indicated resource and increase the average grade which will add hundreds of millions to numbers in SS2 leading into PFS. Then we have LITM which our respected hc CEO's can run better. Drilling successful tick, mou tick, progress with local government tick, markets have smashed the sp but that's to be expected given the last 6 months however we have seen a significant rerate over the last couple of weeks which I hope will continue. The proposed meeting / CR was a power play by Avi vs the board and we all know Avi has been nothing but a cancer to NVA and now LITM so I'm happy he failed to take control of the board, who would want someone found guilty of insider trading to be running their company? LITM I'm confident will bounce back to its highs and NVA will benefit by selling off more of its stake to full NVA coffers. Just because you have invested 10'a of thousands of dollars in a company it doesn't mean you own it. If you think you can do a better job, start a gold or lithium exploring company and let's see how far you can get, oh wait you can't? So then do your research and either invest in a company you believe is heading in the right direction or move onto another that can. These comments today are an absolute joke, people need a reality check!
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Magic, don't be alarmed (we know how you feel about the new kid ) but I think we might agree? The CR was notorious, destroyed confidence in the board and has been toxic for NVA. And yes, NVA should sell more of Snow Lake. There's been some good announcements and is tracking in the right direction now though I can't explain why it was struggling whilst other lithium stocks were popping... But the ghost of AK remains and he looms large with all this drama over at Snow Lake. That's not over by a long shot and anyone would be naive to think otherwise. One failed pass and you think that's been resolved? As you said, do your own research and trust me when I say I am. It's research that led me to happily jumping out of NVA when I was up and if the AGM and December LITM meeting settle some of the strategic concerns I have, I can see myself coming back in. But at the moment too many things aren't settled and a few more are not adding up.