Nova Minerals (ASX:NVA) has raked in a new year’s boost, adding $10.8 million to its balance sheet after strategically divesting a non-core investment, its 6.6 million shares held in Snow Lake Resources (listed on the Nasdaq on Wall Street).

Some of the A$10.8M – which came paid in U.S. dollars – went straight to Nova’s repayments to specialist mining fund Nebari. Debt there has now been shaved to $1.42M.

A further $1.28M was added to Nova’s coffers from the exercise of Nasdaq-listed warrants.

The cash-in-hand the company now has to use, Nova said, will go towards fast-tracking exploration at its flagship Estelle gold and critical minerals project.

The Estelle location holds mineralisation across a 35-kilometre-long corridor in Alaska’s famous Tintina belt. In recent months, Nova has landed samples grading as high as 1,290 grams per tonne and 60.5% antimony.

Estelle’s JORC resource won’t be the only focus for the cashed-up company now either; there’s a belief high-potential antimony can be found across the property too.

“The sale of Snow Lake, and the additional funds received from the warrants conversion, not only strengthens our financial position but also enables us to further focus on the exploration and development of our critical mineral assets,” Nova Minerals CEO Christoper Gerteisen said after the Snow Lake exit was announced.

“We have many more catalysts to follow in 2025,” he continued, “underscoring our commitment to creating long-term value for our shareholders by actively managing our portfolio, extinguishing debt, and investing in high-potential opportunities.”

Mr Gerteisen then added: “This transaction starts the year on a very positive note.”

Price-wise there’s been nothing positive or negative; the exploration company’s market value didn’t shift at all through Thursday’s trade up to close.

HotCopper forum users were excited by the coffer-bolstering, with more than 4,000 viewing the announcement threads and a further 21 commenting across January 2, but that doesn’t appear to have translated to buying yet.

NVA last traded at 37cps at 3.14pm Sydney time today.

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