Nova Minerals Limited (NVA) announced on Thursday that it has sold a non-core investment, generating gross proceeds of $6.73 million. The company divested 6.6 million shares of Snow Lake Resources Ltd and will concentrate on its primary business endeavors.
Nova Minerals intends to allocate $4 million from these proceeds to repay the Nebari loan, while the remaining funds will be directed towards the advancement of its Estelle Gold and Critical Minerals Project in Alaska.
"This strategic divestment is in line with our goal to optimize the company's asset portfolio. It enables us to unlock value for shareholders by further progressing the development of gold and antimony assets within the Estelle Gold and Critical Minerals Project," the company stated.
