NVA - Nova Minerals

[Sean K]

Ended up 72% so could have bought on open and made 20% + by EOD. Quite extraordinary really. Still can't believe that drill hole.

 

[waterbottle]

@kennas what made that drill hole so spectacular (asking as someone who knows nothing about gold miners)?

 

[Sean K]

@kennas what made that drill hole so spectacular (asking as someone who knows nothing about gold miners)?

400m @ 3.5g/t is out of the park. 100m+ @ 10g/t is almost unheard of. I haven't seen those widths with those grades on anything before. There's longer with lower grade and shorter with much higher grade, but not combined like this one.

 

[Sean K]

So, that incredible intersection above was from a prospect called RPM on their larger Estelle property which is yet to be JORC'd with an inferred MRE due to come out before the end of the year. More assays are due shortly to see if this type of ore is widespread. This is seperate to their already JORC'd 4.7m Oz Au at their main deposit called Korbel Main. It's a porphyry, low grade, bulk tonnage. So, these guys actually have something. MC from memory was around $300m, so this has potential to be a fundamental game changer for their overall holdings.

What I question about the company is that they have investments in other things like lithium (OK) and own a helicopter company. WTF is a mineral explorer doing owning 10% of a helicopter company? When I first saw that it really turned me off. Get some focus people. But, you just can't ignore 400m @ 3.5% Au...

Now, chart wise, I think @tech/a might be interested in what's unfolding here. I think he likes breakouts with a couple of inside days and volume decreasing. Looks like a good set up.

 

[Sean K]

@kennas what made that drill hole so spectacular (asking as someone who knows nothing about gold miners)?

waterbottle, here's an example of some drill results to compare to the hole that NVA announced previously.

GMD's 'outstanding' and 'bonanza' results are 44m @ 3.5g/t with 10m @ 10g/t.

NVA's intersection was 400m @ 3.5 g/t and 130m @ 10g/t.

NVA:

 

[tech/a]

Bit of a wait and see at the moment.
The huge gap up reflects more about liquidity.
Buyers chasing supply. It is interesting.

 

[tech/a]

Testing the recent high this morning on Low Volume.
I suspect more consolidation. The almost 100% rise
3 days ago is still in control but I note very heavy
supply coming in quickly. Not convinced.

 

[Sean K]

Testing the recent high this morning on Low Volume.
I suspect more consolidation. The almost 100% rise
3 days ago is still in control but I note very heavy
supply coming in quickly. Not convinced.

Watching the pre-open there were a lot of willing sellers lining up.

 

[Sean K]

OK, this intersection is not so off the charts, but it's still very good, from surface. These are excellent porphyry grades.

However, does make me wonder whether hole 005 was a fluke, or someone sprinkled some yellow dust on it...

They haven't done that much drilling at RPM but say they have sufficient to put together an MRE. Take note LCL!

 

[Sean K]

Initial Inferred MRE out for RPM and it's a good start.

But, as far as I can tell they've put this together based on seven (7!) holes. They do things a bit more efficiently up there in Alaska.

 

[frugal.rock]

Was just randomly looking at charts and this one looks interesting.
Was thinking it might try to trade in the price range of that last huge volume gap up bar? (15c - 20c)
Or test a new low...

 

[Sean K]

Australian's will scoff at the grades, especially the cut-off they've used, but that's a lot of gold for an explorer. Just got to get your head around porphyry systems. MC under $200m.

 

[Sean K]

This turkey is still in the dog house considering it's got almost 10m ounces and it's MC is just $200m. So, they're trading at $50 an ounce. Back of the envelope calcs you normally look at somewhere between $100 and $200 an ounce depending on deposit and location.

It must be some of the low grades, even for a porphyry and it's Alaska, even though there's some elephants nearby.

I'm still puzzled by those hits at RPM. 400m@3.5g/t? That's 1400 gram meters gold. 100 g/m is outstanding.

The MD is an enthusiastic chap.

 

[Sean K]

Some more exceptional results about to drop from RPM. Like a lot of explorers seems to have found a floor in June.

 

[Sean K]

Results out and they are outstanding. I think this is unloved due to the low grade of the larger main deposit which is even low grade for a porphyry. But this RPM deposit seems to have scale and grade. Possibly it's location is a turn off too.

 

[Sean K]

This RPM deposit is quite spectacular.

 

[OBull7]

Bumping up this thread. New ASF user, long time NVA holder. Considering the level of discussion of NVA in other forums thought it would be worth seeing if the quality was better in here in the lead up to the AGM.

 

[Sean K]

Bumping up this thread. New ASF user, long time NVA holder. Considering the level of discussion of NVA in other forums thought it would be worth seeing if the quality was better in here in the lead up to the AGM.

I think the lack of interest and support generally for NVA is the location and the grade of the Estelle deposit which is misunderstood to Australian investors. But, when you add in the scale and incredible grades at RPM it should be trading at a much higher valuation, IMO. It's also been held back by a flight away from gold explorers to other more sexy metals like lithium or crypto. That might be just shifting slightly.

 

[OBull7]

I think the lack of interest and support generally for NVA is the location and the grade of the Estelle deposit which is misunderstood to Australian investors. But, when you add in the scale and incredible grades at RPM it should be trading at a much higher valuation, IMO. It's also been held back by a flight away from gold explorers to other more sexy metals like lithium or crypto. That might be just shifting slightly.

I hope its shifting. Maybe our own shift away from Snow Lake could be in order! Looking forward to some clarity on this at the AGM as the sell down to free up cash for Estelle IMO has been a move in the right direction. LITM has been a pretty poor lithium stock but it looks like momentum has changed and is trending up. If it keeps this up until our shares are out of escrow in March that would be a good outcome.

 

[Sean K]

I hope its shifting. Maybe our own shift away from Snow Lake could be in order! Looking forward to some clarity on this at the AGM as the sell down to free up cash for Estelle IMO has been a move in the right direction. LITM has been a pretty poor lithium stock but it looks like momentum has changed and is trending up. If it keeps this up until our shares are out of escrow in March that would be a good outcome.

The potential capex of Estelle is going to scare the crap out of people. The IRR will be very low %. But if they do a starter pit at RPM that might fund capex up north. I think it requires a major with multi ore body experience to take forward. Any of the top 10.