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Well good volume, equivalent of a quarter of free-float shares moved around today.
well thank you very much sold over 2p that was nice call from you LOL
A lot of people selling at a loss there if they bought today. Seems silly considering fair value is 2p and the on-going haulage contract probably means they're negotiating for longer term.
3 times in a day lucky for NOVA? She's getting very close for another opportunity to jump back in again!
people will be rushing into it when its exposed a bit more...the results dont seem too bad either and after the funding news this should be going alot higher...mind you the year's high sp is just over 6p
Thanks mate! Perhaps again today I sold a bit too early, but can't be too greedy. Keep your eye on PREM today. it has been temporarily suspended awaiting an announcement! GLA
Considering they have the trucks, the employees and the admin... this share simply hasn't gone anywhere due to zero news. (Its hard to imagine those trucks are doing nothing).
Nice call by you again Sir..GL
Agree....could be great midterm investment...
Highly undervalued company.
Why would you announce to the world
GLA!
Climbing!
Oh is it the next riser?
Tiny market cap and she'll long legs to climb! GLA
...
Nova Resources Limited 28 August 2013 NOVA RESOURCES LIMITED ("Nova" or the "Company") New funding Nova announces that it has successfully secured new investment into the Company of GBP400,000 0% unsecured convertible loan notes (the "Notes"). The funds raised may only be used for the purposes that are approved by Pearce Global Limited and these include funding the normal working capital expenses of the Company as well as to pursue the Company's investing policy. The Notes have been subscribed by Pearce Global Investments Limited (the "Noteholder"), a British Virgin Island incorporated company. The principal terms of the Notes are as follows: -- The Notes will be repayable by 31 December 2017 and do not carry a coupon. -- Both the Company and the Noteholder have the right, but not the obligation, at any time to convert part of, or the whole of, the principal amount outstanding under the Notes into new ordinary shares of 1p in the capital of the Company ("Ordinary Shares") at the conversion rate of 1p for each Ordinary Share, subject to the Restriction (as defined below). -- The Noteholder will be issued with 200 million warrants to subscribe for new Ordinary Shares (the "Warrants"), subject to the Restriction (as defined below). The Warrants can be exercised at any time up until 31 December 2018 and at the exercise price of 1p per Ordinary Share. -- The Notes and the Warrants are transferable with the consent of the Company (which consent shall not be unreasonably withheld) and subject to the Restriction (as defined below) being adhered to by a transferee. Conversion of the Notes in full would result in the issue of 40,000,000 Ordinary Shares and exercise of the Warrants in full would result in the issue of 200,000 Ordinary Shares which, in aggregate, would represent approximately 69.4 per cent. of the enlarged issued Ordinary Share capital of the Company (assuming that no other Ordinary Shares are issued and none of the other warrants already issued by the Company are converted). The Company is not subject to the UK City Code on Takeovers and Mergers. However, the Noteholder has undertaken not to: i) convert the Notes or exercise the Warrants (together, "Conversion") if such would result in the Noteholder owning more than 30 per cent. of the enlarged issued share capital of the Company; and ii) use the rights attached to Ordinary Shares acquired as a result of Conversion to appoint a director of the Company or otherwise seek to gain control of the board of directors of the Company or to exercise undue influence on or otherwise interfere with the management of the Company (the "Restriction"). The Board has been in negotiations with several parties with a view to securing additional funding to provide the Company with sufficient working capital as well as to assist the continued pursuit of its investing policy. Whilst the term
Well, it isn't going to stoke interest if buys are registered as sells. :D
Mmmmm tasty..
Worth listening to: http://www.brrmedia.co.uk/event/98430/enrique-lopez-de-mesa-executive-vice-president
King Suarez 21 Mar'13 - 14:32 - 33 of 36 0 0 I don't know how up to date the website info is, but the company initially purchased 16 trucks to transport 1.5m tonnes of coking coal for the first year. They have an option to boost this to 32 trucks to transport 3m tonnes of coal. Haven't seen any news to suggest they have increased the no.of trucks yet? So I will assume still at 16, generating $11.2m - $15.2m annual revenue depending on whether you go with $700k p/a from this website (below) or the one CF linked!? http://www.novaresourceslimited.com/#Cnt2 I would temper expectations for £5m profit for the first year. I think this would be based on 32 trucks. But even a couple of million would be exceptional for a company with no debt, small market cap and massive growth prospects with the coking coal industry in Mongolia. As they report, infrastructure is non-existent so trucking remains the only viable transport method. Therefore you can see the potential here, if the contracts are anywhere near as lucrative as forecast! KS