Core Viewpoint - Nova Minerals Limited has made a strategic investment of 7.8% in Adelong Gold Limited, a company focused on gold and antimony exploration and production, as part of its strategy to partner with undervalued, high-growth resource companies [1][2]. Investment Strategy - The investment aligns with Nova's strategy to engage with companies that have projects in proven mineralized districts, offering near-term production potential and long-term value creation through diversification [2]. - Nova's strong balance sheet supports this investment without compromising its ongoing development activities at the Estelle Gold and Critical Minerals Project [3]. Project Focus - The Estelle Project remains Nova's primary focus, with a strong pipeline of upcoming catalysts, including drill assay results and an updated Mineral Resource Estimate (MRE) [3]. - Nova is also advancing its application for U.S. Department of Defence grants to potentially expedite its antimony project [4]. Adelong Gold Limited Overview - Adelong Gold Limited is progressing towards gold production at its flagship Adelong Goldfield Project in New South Wales, Australia, and is advancing high-grade exploration at the Apollo and Lauriston Gold Projects in Victoria [9]. - Historical production at Lauriston includes approximately 233,000 ounces of gold at an average grade of 20.7 g/t, with recent drilling results showing exceptional grades [5]. Investment Terms - Nova will subscribe for 200 million fully paid ordinary shares in Adelong at A$0.005 per share, totaling A$1 million, and will receive options and rights related to future antimony offtake agreements [8]. - The company will also nominate a director to Adelong's Board and escrow its issued shares for 12 months [8].
Nova Announces Strategic Investment in Adelong Gold