Nova Minerals Limited (ASX:NVA) Unlocks Antimony and Gold Potential
Debt Elimination and Operational Focus
Nova Minerals Limited (ASX: NVA) has successfully eliminated its existing convertible debt facility with Nebari Gold Fund 1, LLP. This strategic move strengthens the company’s balance sheet, positioning it for enhanced development of its gold and antimony assets at the Estelle Gold and Critical Minerals Project.
Conversion Details
The elimination of the debt follows Nova’s recent sale of its non-core investment in Snow Lake Resources Limited, which generated proceeds of US$6.73 million (AU$10.85 million). Nebari will convert the remaining balance of the debt, amounting to US$5.42 million, into ordinary shares at a price of A$0.25 per share. The conversion date is set for 13 January 2025. Following this conversion, Nova will retain all Snow Lake proceeds for project development. The company now boasts approximately A$16 million in cash to accelerate its development plans.
Executive Comments
Christopher Gerteisen, CEO of Nova, expressed enthusiasm regarding this conversion, stating, “This conversion is a serious vote of confidence by Nebari, which brings us a step closer to realizing our vision of developing Estelle into a tier one gold asset and securing a U.S. domestic supply chain for the important mineral antimony.” He added, “With a solid cash backing and zero debt now, 2025 is looking to be an exciting and transformational year for the Company.” Roderik van Losenoord, Senior Managing Director at Nebari, noted, “Nebari expresses its confidence in Nova by converting our facility, which now leaves Nova debt-free.” He emphasized the importance of having capital available for developing opportunities at the Estelle Project.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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