NVA - Nova Minerals

[Dona Ferentes]

I had this in Halloysite watch list, but maybe it's reincarnating
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NOVA MINERALS LIMITED

listed 15/12/2017​

...a $35 million MC . up 10 per cent today to 16c.

Nova Minerals Limited (ASX: NVA, NASDAQ: NVA, FRA: QM3) holds Antimony-Gold prospects at Stibium and Styx on its over 500km2 flagship Estelle Project, located in the prolific Tintina Gold Belt in Alaska, which historically was also a North American antimony producer.

Nova CEO, Mr Christopher Gerteisen commented: “The initial antimony discovery results at Stibium last year were very encouraging. Now, with the 2024 follow-up field programs well advanced we can confirm the presence and wide spread nature of significant antimony in the form of massive stibnite vein zones across numerous prospects at Estelle, including Stibium and Styx. With serious efforts underway in the US to establish and fully secure domestic antimony supply chains, these significant at surface antimony discoveries put the Company in a strong position to fast track these prospects towards development. Bulk sampling has been conducted for metallurgical test work on Stibium and Styx material to develop a process flow sheet and plant design with the aim to produce saleable antimony products as soon as possible.

The Company is aggressively pursuing this potential early cash flow opportunity as a stand-alone small footprint antimony operation containing gold credits, that is separate from the larger RPM and Korbel gold project that it continues to progress concurrently. The Company is working closely with various US government agencies, including the Dept. of Defense, to potentially receive grant funding for fast tracking the Estelle antimony production. The Company believes its proposal applications already submitted for available grant funding will be taken under serious consideration, particularly in light of the recent announcement of China export restrictions."

 

[Dona Ferentes]

now $0.165
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Nova has executed a variation agreement with its largest institutional shareholder and convertible note holder Nebari Gold Fund 1, LP to reduce the month end cash covenant required under the previously announced loan agreement dated 21 November 2022 from US$2m to A$1m, and with the option to extend the convertible facility for a further 12 months out to 29 November 2026.

In addition to the recent US NASDAQ listing, the freeing up of this additional ~A$2m gives the Company the ability to accelerate the RPM early start up option to a Pre-Feasibility Study for delivery in 2025 by undertaking internal optimization studies aimed to investigate how it can potentially generate as much early cashflow as possible to organically fund our expansion plans across the Estelle project. It also gives the Company the ability to continue our advanced discussions with the US Dept. of Defense in relation to potentially establishing a starter antimony operation at Stibium in parallel.

 

[Dona Ferentes]

MC under $40M ..and SP steady at $0.155. Recently adding to the coffers:

Nova (ASX: NVA, NASDAQ: NVA, NVAWW OTC: NVAAF, FSE: QM3) announces the pricing of an underwritten public offering of 430,000 American Depository Shares, with an ADS-to-ordinary-share ratio of 1 to 60 (25,800,000 ordinary shares), at a price to the public of US$5.00 per ADS, for gross proceeds of US$2,150,000, before deducting underwriting discounts and offering expenses. In addition, Nova has granted the underwriters a 45-day option to purchase up to an additional 43,000 ADSs to cover over-allotments, if any.

The Company intends to use the proceeds for resource and exploration field programs, including additional drilling and exploration, feasibility studies, and general working capital.
The shares are to be issued using the Company’s available placement capacity under LR7.1 and LR7.1A.