Nova Minerals (ASX:NVA) completed the sale of 6.6 million shares in Canada-based Snow Lake Resources for $6.7 million, according to a Thursday filing with the Australian bourse.
The divestment is part of Nova's effort to focus on advancing its gold and antimony assets within the Estelle Gold and Critical Minerals Project in Alaska, the filing said.
The company will use the proceeds to reduce its debt with shareholder Nebari Gold Fund 1 and fund exploration and development activities at Estelle, the mineral explorer said.
Shares of the company rose past 1% in recent Thursday trade.
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