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Nova Minerals Quarterly Activities and Cashflow Report – 31 March 2025
NVANova Minerals Limited(NVA) Newsfilter·2025-04-11 10:30

Core Insights - Nova Minerals Limited continues to report high-grade gold discoveries at its Estelle Project, with notable samples from Wombat reaching up to 360 g/t Au and RPM Regional area samples up to 56.3 g/t Au [1][5][4] - The company is advancing U.S. grant applications for antimony development, indicating a strategic focus on critical minerals alongside gold exploration [1][4] - The quarterly cash flow report shows a cash position of A13.076millionwithnodebt,followingsignificantcashinflowsfromthesaleofsharesandwarrantexercises[10][6]EstelleProjectHighlights−High−gradegolddiscoveriesatWombatinclude7rocksamplesgradinggreaterthan2g/tAu,withapeakof360g/tAuovera1kmstrikelength[5][10]−TheRPMRegionalareahasidentifiedfurtherhigh−gradegold,with20rocksamplesgradinggreaterthan1g/tAuandahighof52.3g/tAu[5][10]−TheStibiumprospecthasbeenconfirmedasanextensivegoldandantimony−richzone,measuring800mlongby400mwide,withidentifiedresourcedrilltargets[4][5]FinancialOverview−ThecompanyreportedanetcashoutflowfromoperatingactivitiesofA13.076 million with no debt, following significant cash inflows from the sale of shares and warrant exercises [10][6] Estelle Project Highlights - High-grade gold discoveries at Wombat include 7 rock samples grading greater than 2 g/t Au, with a peak of 360 g/t Au over a 1 km strike length [5][10] - The RPM Regional area has identified further high-grade gold, with 20 rock samples grading greater than 1 g/t Au and a high of 52.3 g/t Au [5][10] - The Stibium prospect has been confirmed as an extensive gold and antimony-rich zone, measuring 800m long by 400m wide, with identified resource drill targets [4][5] Financial Overview - The company reported a net cash outflow from operating activities of A1.230 million for the quarter, with total cash equivalents at the end of the period at A13.076million[29][30]−SignificantcashinflowsincludedA13.076 million [29][30] - Significant cash inflows included A10.5 million from the sale of Snow Lake shares and A1.5millionfromtheexerciseofU.S.Nasdaqwarrants[10][6]−ExplorationandevaluationcostsforthequartertotaledA1.5 million from the exercise of U.S. Nasdaq warrants [10][6] - Exploration and evaluation costs for the quarter totaled A1.1 million, primarily related to PFS test work and environmental studies [10][6] Future Plans - Ongoing metallurgical and environmental test work is expected to yield material results, with plans for a 2025 drilling and surface exploration program [10][6] - The company aims to update its Mineral Resource Estimate (MRE) to comply with both JORC and S-K 1300 standards for gold and antimony [10][6] - Nova is also exploring potential funding opportunities from the U.S. Department of Defense for antimony supply [10][6]