Nova Minerals Says It Has Executed Variation Agreement With Largest Institutional Shareholder And Convertible Note Holder Nebari Gold Fund 1 To Reduce The Month End Cash Covenant Required Under Previously Announced Loan Agreement Dated 21 November 2022
Portfolio Pulse from Nabaparna Bhattacharya
Nova Minerals has executed a variation agreement with Nebari Gold Fund 1 to reduce the cash covenant under a loan agreement, freeing up funds for feasibility studies and discussions with the US Dept. of Defense.
September 20, 2024 | 10:34 am
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Nova Minerals has reduced its cash covenant with Nebari Gold Fund, freeing up funds for feasibility studies and potential projects with the US Dept. of Defense.
The reduction in the cash covenant allows Nova Minerals to allocate more resources towards feasibility studies and potential projects, which could lead to increased future revenues and growth opportunities. This is likely to have a positive short-term impact on the stock price.
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