Half Year Report
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 Ltd
The company plans to create shareholder value through two-pronged strategy:
- Capitalise on the growing demand for energy storage and the resulting demand for lithium, cobalt and nickel by fast-tracking exploration and development activities in our North American assets with particular focus on our flagship lithium project and prospective Chip-Loy Nickel Cobalt Sulphides project.
- Diversification by gaining exposure to base and precious metals through our farm-in JV at our district scale Estelle gold copper silver project and our Northern Australian gold exploration assets.
Nova Minerals Ltd