i do have a bit of an interest in seeing this get up,so disclose that first.

the stawell gold mine has just announced the potential to step out and mine a new resource,since the mine was looking at winding down,the 10 million thay have penciled in to drill out and engineer the new ore is a big positive for stawell.

the effect for navarre,is that between now,and the new ore body coming in,there is a gap in feed for the mill.

the owners of stawell have put capital into the small unlisted navarre,if the near stawell and shallow prospects navarre has can filll this feed gap,it is positive for everyone.

3.5 to 5 million is sought to fund the next round of drilling. the old kingston mine at callawadda has been drilled before,and the new gold price plugged into the old numbers looks encouraging.

awaiting the final details,but the listing date is hoped to be early december,so all near term now.

hold up with some asic approvals,asic has a monthly meeting they use for this sort of process,so that puts the prospectus back another few weeks.

the lawyers say they can hurry it up for a price........

big learning curve,but interesting.

tentative pre christmas lodging,but you will be able to hear sleigh bells by then.

to float Navarre through an IPO process to raise between $3.5m and $5m to provide the necessary funds to conduct these exploration programs.
We anticipate listing Navarre Minerals in early December and have commissioned experts to conduct independent reports for inclusion in the prospectus.
The cost of preparing the prospectus is anticipated to be $150K being made up:
ASX / ASIC Fees $24k
Legal Fees $40k
Independent Geologist Fees $20k
Report on Tenements $10k
Accounting Fees $15k
Share Registry $20k
Prospectus preparation $10k
Printing & Other $10k
~ $150k

always takes a little longer,and costs a little more than first estimate...

Hi Hybrid,

read with some interest this float - it seems to be bit less 'blue sky' and more 'numbers based', ... price of Gold holding up notwithstanding.

My only question: are outsiders going to get a look-in?

Or, for this small amount to be raised, is there going to be an insiders club who allocate the float to themselves? (and have a second round for the mug punter at a higher entry point?) of course the alternative, going through a broker, will see distortion the other way, to benefit the arriviste risk little, take much, Perroni set.

God luck with the path chosen (remember NTOil)

northgate [the owner of the stawell mine] has all the financial muscle needed for funding,and if it is in their interest to get the project to the stage of providing feed for the stawell mill when they need it,the indication is that solutions could be forthcoming.

northgate is the cornerstone holder,and will be issued with the shares to see them with a ten percent holding at float.

the shareholder spread is needed---400 non related parties,or 500 with family members[mum dad,kids,grandma/grandpa included]

northgate is using navarre to do the small scale stuff--northgate talent does the 10 million dollar drilling program,looking for the significant to a big company stuff. navarre does the rats and mice stuff,which is still very significant to a minnow.

sounds better/ logical, HB

((and first time I have ever used Google Search, for "navarre minerals" , and get Shares Guru at the top!!))

Navarre has been informed by ASIC that the conversion of Navarre to a public “Limited” company must follow due process requiring a 28 day gazetting period following acceptance of our application. If there are no objections to our application, we have been advised that the earliest date of becoming a “limited company” is likely to be 23 December 2010. This timing has had the net effect of delaying lodgement of our Prospectus. The likely closing date of our IPO is anticipated to be 4 February 2011 following a 1 month exposure period.
• Navarre is waiting on response from Northgate about clarification through the records of Leviathan Resources and Perseverance Corp to confirm whether initial $5K payment to Wotjobaluk people has been made.
• Discussions were held with a third party about a possible joint venture or vend of the greenfields status Ballarat South Gold Project. The third party failed to respond with an offer within the agreed timeframe and Navarre, subsequently decided to include Ballarat South in the IPO.

How is this project progressing? I tentatively looked into seeing if I could raise funds for a Uni technology some months back, in the end the road blocks the block head in charge of releasing this particular Uni patent kept throwing up, became too great. The choice was basically to try and take through to development vs let the patent basically expire, and have the rest of the world given open slather to running with it, would have made any bureaucrat sing praises to this fool for years to come. Still it was an interesting experience, even though my own involvement in it was essentially as a potential investor. I dare say your own experience with this float has been a far bigger learning affair.

g'day stu,i hadn't replied as the 14th was the flood day, and all power and phones went down,and i lost lot of time in the clean up. big learning curve,and i would say that putting more sweat than cash into any project is one of the secrets.

sink or swim,if i get another opportunity to do something similar and i am fit enough,will have a crack.

i will move navarre to the main thread today.