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's (ASX:NVA) (FRA:QM3) (OTCMKTS:NVAAF) vision is to develop North America's next major gold trend. The company is focused on exploration in Alaska's 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 Victoria Gold's Eagle Mine and Kinross Gold Corporation's Fort Knox Gold Mine. The company's flagship Estelle Project has a current total estimated JORC gold resource of 9.6Moz (3Moz Indicated and 6.6Moz Inferred). Estelle is a 45km long string of 15 identified gold prospects bracketed by the Korbel deposit in the north and the RPM deposit in the south. These two deposits are currently host to extensive exploration programs.

Additionally, Nova has an indirect interest in the Canadian Thompson Brothers Lithium Project through a substantial stake in Snow Lake Resources Ltd (NASDAQ:LITM) and holds a 12.99% interest in Torian Resources Limited (ASX:TNR), a gold exploration company based in Western Australia.

   

Contact

Nova Minerals Ltd
P: +61-3-9614-0600
F: +61-3-9614-0550
WWW: novaminerals.com.au



Link: Half Year Accounts


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