Cautionary Notes
Forward-Looking Statements
The information contained on this Website (“Website”) has been prepared by Nova Minerals Limited (the “Company”). It has not been fully verified and is subject to material updating, revision and further amendment.
These statements relate to future events or the Company’s future performance. All statements, other than statements of historical fact, may be forward-looking statements. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “anticipates”, “plans”, “budget”, “scheduled”, “continue”, “estimates”, “forecasts”, “expect”, “is expected”, “project”, “propose”, “potential”, “targeting”, “intends”, “believes”, “objective” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this website should not be unduly relied upon by readers, as actual results may vary.
While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers give, have given or have the authority to give, any representations or warranties (express or implied) as to, or in relation to, the accuracy, reliability or completeness of the information in this Website, or any revision thereof, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as “Information”) and liability therefore is expressly disclaimed. Accordingly, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness of the information or for any of the opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this website. Neither the issue of this website nor any part of its contents is to be taken as any form of commitment on the part of the Company to proceed with any transaction and the right is reserved to terminate any discussions or negotiations with any prospective investors. In no circumstances will the Company be responsible for any costs, losses or expenses incurred in connection with any appraisal or investigation of the Company. In furnishing this website, the Company does not undertake or agree to any obligation to provide the recipient with access to any additional information or to update this Website or to correct any inaccuracies in, or omissions from, this website which may become apparent.
This website should not be considered as the giving of investment advice by the Company or any of its shareholders, directors, officers, agents, employees or advisers. Each party to whom this website is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. In particular, any estimates or projections or opinions contained herein necessarily involve significant elements of subjective judgement, analysis and assumptions and each recipient should satisfy itself in relation to such matters.
The Company confirms that it is not aware of any new information or data that materially affects the information included on this website and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.
Cautionary Statements: Korbel Gold Project Starter Pit Scoping Study
For a full version of the Scoping Study referred to on this website please refer to the ASX Announcement dated 28 February 2022 titled “Korbel Gold Project Starter Pit Scoping Study”. The Scoping Study referred to on this website has been undertaken for the purpose of initial evaluation of a potential development of the Korbel Gold Project in Alaska. The Scoping Study is a preliminary technical and economic study of the potential viability of the Korbel Main Deposit as a stand-alone starter operation. The Scoping Study outcomes, production target and forecast financial information are based on low level technical and economic assessments that are insufficient to support estimation of Ore Reserves. The Scoping Study is presented in US dollars to an accuracy level of +/- 35% with a 90% level of confidence. While each of the JORC modifying factors was considered and applied, there is no certainty of eventual conversion to Ore Reserves or that the production target itself will be realised. Further exploration and evaluation work and appropriate studies are required before Nova will be in a position to estimate any Ore Reserves or to provide any assurance of an economic development case. The production target stated is based on Nova’s current expectations of future results or events and should not be relied upon by investors when making investment decisions. Further evaluation work and studies are required to establish sufficient confidence that the production target will be met. Accordingly, given the uncertainties involved, investors should not make any investment decisions based solely on the results of the Scoping Study.
Given that the results of the Scoping Study are subject to the qualifications above (including assumptions as to accuracy and confidence tolerances) any results reported should be considered as approximates and subject to variances having regard for the assumptions referred to.
Of the Mineral Resources scheduled for extraction in the Scoping Study production plan approximately 80% are currently classified as Indicated and 20% as Inferred during the 3 year payback period. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target itself will be realised. Inferred Resources comprise 20% of the production schedule in the first three years of operation and an average of 30% over the first 15 years of operation. Nova Minerals confirms that the financial viability of the Korbel Gold Project is not dependent on the inclusion of Inferred Resources in the production schedule.
The Mineral Resources underpinning the production target in the ‘starter pit’ Scoping Study was prepared by a competent person in accordance with the requirements of the JORC Code (2012) and released to the market on the 23rd December 2021. For full details of the Mineral Resources estimate, please refer to Nova ASX release dated 23 December 2021, released to ASX under the title “Estelle Project Grows by Over 50% to 9.6 Million Ounces” with a competent person sign-off from Mr Frank Hrdy. Nova confirms that it is not aware of any new information or data that materially affects the information included in that release and that all material assumptions and technical parameters underpinning the estimate continue to apply and have not been changed.
To achieve the potential mine development outcomes indicated in the Scoping Study, funding in the order of US$500 million will likely be required. Investors should note that there is no certainty that the Company will be able to raise funding when needed, however the Company has concluded it has a reasonable basis for providing the forward-looking statements included in the Scoping Study and believes that it has a “reasonable basis” to expect it will be able to fund the development of the Project. It is also possible that such funding may only be available on terms which are dilutive to, or otherwise affect the value of, Nova’s existing shares. It is also possible that Nova could pursue other ‘value realisation’ strategies such as sale, partial sale or joint venture of the project. If it does, this could materially reduce Nova’s proportionate ownership of the project.
Nova has concluded that it has a reasonable basis for providing these forward-looking statements and the forecast financial information included in the Scoping Study. This includes a reasonable basis to expect that it will be able to fund the development of the Korbel Gold Project upon successful delivery of key development milestones as and when required. The detailed reasons for these conclusions are outlined throughout this Scoping Study. While Nova considers all of the material assumptions to be based on reasonable grounds, there is no certainty that they will prove to be correct or that the range of outcomes indicated by the Scoping Study will be achieved.
A summary of the Scoping Study highlights is shown in the summary table in the body of the ASX Announcement dated 28 February 2022 titled “Korbel Gold Project Starter Pit Scoping Study”. All financials are provided in US dollars unless stated otherwise.
OTC Listing
In addition to being listed on the ASX and FSE, Nova Minerals is listed on the OTCQB Market (USA) under ticker code NVAAF.
https://www.otcmarkets.com/stock/NVAAF/overview
The OTCQB listing aims to provide current and potential North American investors with appropriate accessibility and liquidity to invest in the Company. The listing provides Nova Minerals access to one of the largest investment markets in the world at nominal cost, with no additional compliance requirements, compared to traditional major exchanges.
Nova’s listing on the OTC Markets is DTC Eligible. DTC is a subsidiary of The Depository Trust & Clearing Corporation, part of the US Federal Reserve System that manages the electronic clearing and settlement of publicly traded companies. DTC eligibility is expected to simplify the process of trading and enhance liquidity of the Company’s shares on the OTCQB by greatly broadening the pool of brokerage firms that will allow their clients to trade the stock.
Online brokers such as Ameritrade, Fidelity Investments, Charles Schwab, Tradestation and Etrade all offer OTCQB trades. Investors trading via other online brokers should inquire of their respective brokers whether OTCQB shares are made available to them.
NVAAF stock is traded in USD, and is in the same class of Ordinary Shares as ASX:NVA.
