Nova Minerals Limited (ASX: NVA) announced the successful execution of a variation agreement with its major institutional shareholder and convertible note holder, Nebari Gold Fund 1, LP. This agreement reduces the month-end cash covenant required under the previously announced loan agreement dated 21 November 2022 from US$2 million to AU$ 1 million, with the added option to extend the convertible facility for a further 12 months to 29 November 2026.
Following the recent US NASDAQ listing and the release of approximately AU$2 million, the Company is now well-positioned to propel the RPM early start-up option to a Pre-Feasibility Study for delivery in 2025. This will be achieved by conducting internal optimization studies to explore how to generate as early cash flow as possible. The expansion plans across the Estelle project instill optimism about the Company's growth. Additionally, this development empowers the Company to continue advanced discussions with the US Dept. of Defense regarding the potential establishment of a starter antimony operation at Stibium concurrently.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
