Member Info for Iceman_1

Average grade: 10 g/t but we're not starting with the "average" dirt.

The Board's directive is to begin mining in the highest-grade zones first. The logic is simple, for largely the same operating cost, you generate significantly higher revenue and immediate cash flow. This kickstarts the project's economics and builds capital for future development.

Worth remembering that these artisanal calcs have BIG variables!!

The daily/monthly numbers swing big depending on just a few inputs: gold price, achieved grade, tonnes/day, and realised sales %. And we’ve still got more assays due, plus the team can prioritise higher-grade faces once the model is refined.

To show how sensitive it is (keeping tonnes/day at 4 and 70% realised price):

10 g/t ≈ 1.29 oz/day → at $3,770/oz realised ≈ $4.9k/day revenue

20 g/t ≈ 2.57 oz/day → ≈ $9.7k/day revenue (roughly double)

63 g/t pocket (not an “average”, but possible locally) ≈ 8.1 oz/day → ≈ $30k/day revenue

And if spot gold runs to $5,000/oz, the realised price at ~70% would be $3,500/oz — so revenue scales directly with that too.

The more assays we get and the more selective the mining plan becomes, the better the economics can look.

Why is a team of 20 or even 40 contractors only processing 4 tonnes per day? why not 10 tonnes per day? or even 6 tonnes per day?

Agreed — and that’s an important point to clarify. Thank you.

La Patona Phase 1 (first ~150 tpd) is indeed part of the funded plan and is intended to process Bonanza ore, which is why it’s so strategically important.

The market re-rates on mining restart + contractor mobilisation, and then further re-rates as La Patona comes online and throughput increases.

Bonanza is the catalyst. La Patona is the upside "multiplier".

La Patona has always been positioned by the Company as a Phase 2 scale-up asset, following the restart of mining at Bonanza. Bonanza is the near-term cash generator, lower capex, quicker to restart, and designed to prove operational delivery.

La Patona then builds on that foundation by materially increasing throughput, improving margins, and giving NTVO full control over processing once commissioned.

This is why the market re-rating doesn’t wait for La Patona to be fully operational. It begins once mining starts at Bonanza.

DYOR! GLA!

£180,000 is the maximum that can be converted in any single month. Once that cap is reached, that’s it!! YA then has to sit on their hands and watch the share price move up for the next ~29 days 😄😄😄

Crucially, if the share price moves to 0.8p, 1p or higher, the Board has the option to use the ATM facility via its broker to raise cash at those higher levels. So when YA gives notice to convert the next month, NTVO can simply repay the £180k + interest in cash instead of issuing shares.

If that route is taken, it removes low-price dilution entirely no discounted placings, no pressure selling. That’s when sentiment flips fast and the share price can really accelerate.

My focus is where this goes over the coming weeks and months. If NTVO executes and transitions into production, I see no reason why this shouldn’t re-rate toward a £20m+ market cap in time.

I’m positioned — and staying positioned.

The CLN isn’t the story. Mining restart is!!! 🔥🔥🔥

AIM isn’t for everyone, but for those willing to invest the time and energy to truly understand their investments and the risks involved, the potential rewards can be significant. I don’t invest in many companies, I keep my portfolio focused so I can spend more time understanding each one. That said, nothing in this game is guaranteed, risk is everywhere. I’m here because of gold, and especially its recent upward move.

Good luck with your investment, longfell.

Longfell

Good to read the past RNSs before posting and to have some understanding of how mining projects actually progress. Also, only invest what you can afford to lose… otherwise you’ll worry yourself to death 😄

From everything released so far, the Board is doing a solid job and following a proper restart process. My view is that the reason the Board plans to visit the mine this month is to oversee and confirm the restart of mining in person. This is a big step for this company.

Once that happens, things can move very quickly from here.

DYOR!

NTVO has several funding options, and one of the most important is the ATM (At-The-Market) equity facility.

The ATM exists to give NTVO flexibility, primarily to help repay the YA CLN amortisation if needed.

For example, if the share price moves to 0.8p, 1p, or even 2p, NTVO can instruct its broker AlbR Capital to sell small amounts of stock at the prevailing market price. The cash raised at those higher prices can then be used to repay YA, significantly reducing or eliminating the need for CLN conversion into shares.

This is why I’m not overly concerned about the CLN. Once mining starts and the share price reflects that progress, NTVO has multiple ways to manage repayments efficiently. With production cash flow coming in, the CLN becomes far less relevant.

This is exactly why getting mining started is so important for NTVO. Once production begins, the company has real options — cash flow to repay, flexibility to manage funding, and far less reliance on dilution.

YA cannot dump unlimited shares. The CLN conversion is controlled and optional, not automatic, and is capped by the monthly structure. Mining cash flow changes the whole equation.

There’s confusion about the CLN, so worth being clear.

YA has the option to convert, but NTVO controls whether conversion is needed at all. If NTVO repays the monthly amount in cash (from cash on hand, ATM, or mining cash flow), no conversion happens.

There is no forced monthly dumping of shares.

Key facts:

Conversion price is at premium, not a discount

NTVO can repay in cash or repay early

ATM provides flexibility

Mining cash flow reduces the need to convert altogether

Once NTVO moves from explorer → producer, valuation is driven by cash flow and ounces, not dilution fear.

The CLN isn’t the story. Mining restart is!!!

I really like today’s price action. I don’t want a spike followed by a dump. A steady move higher is far healthier.

This allows early buyers below 0.45p to take profits if they want, while new buyers step in and build positions, pushing the price higher in a sustainable way.

I’ve got no issue with people selling, it’s normal. Some are happy with 20–60% gains, while others who’ve done their homework are aiming much higher.

When a stock moves up gradually like this, it can keep trending for days rather than hours. Today could easily be the start of a move toward 1p/2p and beyond, built on solid participation rather than hype.

I’ve spent a lot of time researching NTVO and I genuinely believe in the story. I’m happy to add on any dips that come along even above 0.6p.

I wanted exposure to a small gold company that already has existing infrastructure, funding in place, and a clear path to production. NTVO fits that profile for me.

With gold already at all time high and geopolitical risks rising (Iran, Greenland, Cuba, China, Russia, NATO, etc), I think the upside for gold is far from over. A move toward $5,000 is entirely possible "this month", and even higher levels wouldn’t surprise me. This macro tailwind is perfectly timed for NTVO's operational progress.

This is a key detail some may be missing. In underground gold mining, ~4-6 g/t is typically economic. NTVO's 10 g/t surface average is already a robust planning grade. The pending underground results are the real catalyst, with potential for high-grade shoots like the historic 63.6 g/t to re-emerge and transform margins and project economics.

Very exciting times for investors here.

DYOR/GLA!

AIMinvestor22

You’re right to look at the numbers closely but the key here is what's real vs. what's modelled, and what actually drives a mine restart.

The 15.6 g/t figure was an "expectation/modelled average" from historic and selective datasets. The ~10 g/t referenced here comes from real, systematic surface trench sampling with full QA/QC — i.e. a more conservative, mine-planning grade.

A few key points people are missing:

10 g/t underground gold is very healthy, especially near existing workings and infrastructure.

These are "surface trench" results, not stoped production grades — underground grades often differ once mining starts.

The RNS explicitly says grades are sufficient to restart mining, which is the commercial threshold that actually matters.

This is about de-risking, not headline chasing. Moving from expectations to verified averages is how projects progress.

Also worth noting: underground samples (34 taken, 117 more to come) are still pending. Those will refine — not replace — the mine plan.

So no, this isn’t a downgrade. It’s the normal transition from speculative expectations to qualified data that supports production.

Next MAJOR RNS to Watch For: This is one of the biggest catalysts.

Mining Contractor Appointment & Mobilisation

Once the mining contractor is formally appointed and mobilisation details are agreed, NTVO is very likely to issue an RNS confirming this. That’s the clearest signal that mining is imminent.

It’s the strongest signal that NTVO is about to become a cash-generating gold producer.

This isn’t just “good results” – it’s exactly what was needed to move from story to reality.

Grades confirmed = de-risked. 10g/t average is high-grade & economic.

Historic data validated – wipes away the “but is it real?” doubt.

Right next to existing mine – fast, low-cost restart.

Board says: “has required grades to restart.” That’s the green light.

More targets identified – this could grow into a multi-mine hub.

Bottom line: NTVO is now a near-term gold producer, not just an explorer!! This RNS removes uncertainty and lights the path to production. VERY Bullish.🚀🚀🚀

A fair point to raise, but it needs context, Mr AIM!!

No one sensible was ever basing a mine plan on isolated “63 g/t” spike samples — those are outliers, not mineable averages. What actually matters is consistent, repeatable grades, and ~10 g/t near existing workings is more than sufficient for profitable underground mining, especially in the current gold price environment.

This RNS does two important things:

Confirms historical St Elias data (so grades weren’t exaggerated),

Validates economic mining grades across multiple samples, not just cherry-picked highs.

In mining, moving from speculative headline numbers to qualified, averaged results is progress, not a downgrade. That’s exactly what de-risking looks like.

This is a brillient RNS, AIM. This is a FACT!!!

Key Catalysts to Watch For:

1) Mining Contractor Appointment & Mobilisation

This is one of the biggest catalysts.

Once the mining contractor is formally appointed and mobilisation details are agreed, NTVO is very likely to issue an RNS confirming this. That’s the clearest signal that mining is imminent.

2) Assay Results from Surface & Underground Samples

With surface sampling confirming grades and underground rehab completed, the next logical update is assay results from:

~60 surface trench samples

34 underground samples already taken

117 further samples planned

Even high-level grades or trends would help refine the geological model and boost confidence

3) Mining Restart Timeline Confirmation

4) Processing Plant Progress Update

5) First Mining / First Production Announcement

6) Ongoing Geological Model Updates

The news flow is continuous and material. Each update will further de-risk and add value as NTVO transitions from explorer to producer. The next few days and weeks are critical for momentum.

We break 0.5p we will move to 1p.....

0.5p is always a big resistance and we did break it last week so we should take out soon.

Me too.... IG wasnt giving me a price.

I added AGAIN today!

This RNS moves NTVO from a speculative story to a credible, de-risked, production-focused gold play.

THIS IS TRANSFORMATIONAL RNS FOR NTVO!!!!