NVA - Nova Minerals

Sean K said:

Seems like everyone has antimony in their deposits now. Wonder why?

View attachment 188872

Click to expand...

not even a deposit.

$0.37 ...been busy

Sale of non-core investment for USD$6.73 million (AUD$10.85 million)
Non-dilutive financing to further fund the Company’s gold and antimony development and strengthen the balance sheet

NOVA is pleased to announce the following key developments that add further cash to the Company’s balance sheet for our 2025 field season and strengthen its financial position and strategic focus.

Sale of Non-Core Investment
The Company has completed the sale of the 6.6 million shares which it owned in Snow Lake Resources Ltd, realizing gross proceeds of USD$6.73 million (AUD$10.85 million). This strategic divestment aligns with our objective to optimize the Company’s asset portfolio to unlock value for shareholders by further advancing the gold and antimony assets within the Estelle Gold and Critical Minerals Project.

Partial Repayment of the Nebari Loan
USD$4 million of the proceeds has been allocated to reduce the Nebari loan, leaving just USD$1.42 million of the facility on the balance sheet. This partial repayment significantly reduces the Company’s debt and leaves additional cash to strengthen the balance sheet, which gives the Company improved financial flexibility to support the continued development of the Estelle Project.

Funding Gold and Antimony Exploration and Development
The remaining proceeds from the sale will be directed towards advancing exploration and development activities at the Company’s Estelle Gold and Critical Minerals Project, in Alaska. Thefunding will enable the acceleration of development programs aimed at unlocking the full potential of the multiple highly prospective assets across the Estelle Project, with a focus on RPM and the numerous antimony prospects. Antimony is a critical mineral with growing demand in emerging industries and for defence purposes, and the Company is committed to positioning itself as a market leader in this space while also advancing the development of its gold assets.

Recent US NASDAQ Warrants Conversion Proceeds
The Company’s financial position has also been further strengthened by the exercise of US NASDAQ warrants over the last few months which has brought in additional cash funding of approximately USD$0.79 million (AUD$1.28 million).

41c ... but where now..?? you'd have to think some slippage to come.




Niva has reached an agreement with Nebari Gold Fund 1, LLP for the elimination of its existing convertible debt-facility, by way of a conversion of the full outstanding balance of the Nebari Note into ordinary shares. The elimination of the Nebari Note comes shortly after the Company’s sale of its non-core investment in Snow Lake Resources Limited which realized gross proceeds of US$6.73M (AU$10.85M). Nebari’s intent is to continue its partner role, now as a supportive shareholder, as the Company unlocks future value in the Estelle Gold and Critical Minerals Project. Nebari will convert the balance of the Nebari Note US$5.42m to ordinary shares at A$0.25 per share in accordance with the terms of the Nebari Note, which was approved by shareholders at the Company’s Annual General Meeting which was held on 14 November 2024. After conversion by Nebari, the Company will retain all the Snow Lake proceed funds fordevelopment of the Estelle Gold and Critical Minerals Project. With further NASDAQ warrants exercised over the last few days, the Company now holds ~A$16m in cash to accelerate its development plans. The conversion date will be 13 January 2025.

Nova CEO, Christopher Gerteisen commented: “This conversion is a serious vote of conÞdence by Nebari, which brings us a step closer to realizing our vision which is to concurrently develop Estelle into a tier one gold asset and to help secure a U.S. domestic supply chain for the strategically important mineral antimony. Nova is delighted to have the support of Nebari. Nebari has been involved with Nova for over 2 years and during that time, Nebari has demonstrated a strong understanding of the industry and challenges involved in bringing new projects to fruition, building on its reputation as a highly respected and experienced finnancier of precious metals and other mining projects globally. We look forward to continually working with Nebari in the operational phase of the project.

Establishing a domestic source of the critical mineral antimony is more important than ever, and we stand ready to responsibly produce critical resources here at home and help strengthen America’s national and economic security. With a solid cash backing and zero debt now, 2025 is looking to be an exciting and transformational year for the Company as we continue to advance both our gold and antimony assets in unison towards production.”