Nova Minerals Sells Non-core Investment For $6.73 Mln

(RTTNews) - Nova Minerals Limited (NVA) Thursday announced the sale of a non-core investment for gross proceeds of $6.73 million. The company has sold 6.6 million shares of Snow Lake Resources Ltd to focus on its core activities.

Nova Minerals plans to use $4 million from the proceeds to pay down the Nebari loan. Remaining proceeds will be used to develop its Estelle Gold and Critical Minerals Project, in Alaska.

"This strategic divestment aligns with our objective to optimize the Company's asset portfolio to unlock value for shareholders by further advancing the gold and antimony assets within the Estelle Gold and Critical Minerals Project," the company said in a statement.