Half Year Report
Melbourne, Mar 18, 2019 AEST (ABN Newswire) - Your Directors present their report on the consolidated entity (referred to hereafter as the Group) consisting Nova Minerals Limited (
ASX:NVA) and the entities it controlled at the end of, or during, the half year ended 31 December 2018.
The principal activity of the Consolidated Entity during the financial half year is further advancing its exploration projects in Australia, United States and Canada. The Company is a progressive explorer with projects in Western Australia. The projects are all located on granted titles and are prospective for gold and Lithium and high purity alumina. In addition, the Company holds the rights to earn up to 80% interests in the Thompson Brothers Lithium Project in Manitoba Canada via controlled entity Snow Lake Resources Ltd and is in the process of spinning off the entity by completing a listing of the entity on the Canadian Stock Exchange (CSE). Furthermore, The Company has the right to earn up to 70% in the Alaskan Projects joint venture in Alaska, USA via controlled entity AKCM (Aust) Pty Ltd. As an exploration company, Nova does not have an ongoing source of revenue. Its revenue stream is normally from ad-hoc tenement disposals, and interest received on cash in bank.
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About Nova Minerals Limited
Nova Minerals Limited (ASX:NVA) (FRA:QM3) is a Gold, Antimony and Critical Minerals exploration and development company focused on advancing the Estelle Project, comprised of 514 km2 of State of Alaska mining claims, which contains multiple mining complexes across a 35 km long mineralized corridor of over 20 advanced Gold and Antimony prospects, including two already defined multi-million ounce resources, and several drill ready Antimony prospects with massive outcropping stibnite vein systems observed at surface. The 85% owned project is located 150 km northwest of Anchorage, Alaska, USA, in the prolific Tintina Gold Belt, a province which hosts a >220 million ounce (Moz) documented gold endowment and some of the world's largest gold mines and discoveries including, Barrick's Donlin Creek Gold Project and Kinross Gold Corporation's Fort Knox Gold Mine. The belt also hosts significant Antimony deposits and was a historical North American Antimony producer.
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