SCHEDULE: Nebari Funds Disclose 6.82% Stake in Nova Minerals

Nebari Gold Fund 1, LP and its general partner, Nebari Partners GP II, LLC, have disclosed a shared beneficial ownership of 6.82% in Nova Minerals Limited as of September 22, 2025.

Summary

• Nebari Gold Fund 1, LP and Nebari Partners GP II, LLC collectively reported beneficial ownership of 27,390,638 ordinary shares in Nova Minerals Limited.
• This ownership represents 6.82% of the company's ordinary shares outstanding.
• The calculation is based on 401,501,417 fully paid issued and outstanding ordinary shares as publicly reported by the Australian Securities Exchange Ltd (ASX).
• Nebari Gold Fund 1, LP and Nebari Partners GP II, LLC share both voting and dispositive power over these 27,390,638 shares.
• The filing certifies that the securities were not acquired for the purpose of changing or influencing control of the issuer, other than activities solely in connection with a nomination under Rule 14a-11.

Sentiment

Score: 6

Explanation: The disclosure of a significant institutional stake is generally a neutral to slightly positive indicator, suggesting investor confidence without providing performance details.

Positives

• Significant institutional investor interest demonstrated by Nebari Gold Fund 1, LP holding a 6.82% stake in Nova Minerals Limited.
• The filing explicitly states the securities were not acquired for the purpose of changing or influencing control, which may reduce concerns about activist investor intentions, with the exception of activities solely in connection with a nomination under Rule 14a-11.

Risks

• Potential for future changes in ownership or voting influence by Nebari entities, although the current filing certifies no intent to influence general control.
• The exception for activities solely in connection with a nomination under Rule 14a-11 indicates a specific potential for shareholder activism related to board nominations.
• Market perception shifts based on institutional investor actions, which could lead to stock volatility.

Future Outlook

The filing does not provide any forward-looking statements or guidance regarding Nova Minerals Limited's operational or financial performance.

Industry Context

This filing reflects an institutional investor's position in Nova Minerals Limited, a company whose primary business is likely in the minerals sector. Such disclosures are common for publicly traded companies and indicate ongoing investor activity within the industry.

Stakeholder Impact

• Shareholders: May view the significant institutional stake as a vote of confidence, potentially influencing stock perception.
• Management: Awareness of a large institutional holder may influence strategic decisions, though the filing states no intent to influence general control.

Key Dates

Recommendation

This Schedule 13G filing primarily serves as a disclosure of beneficial ownership by Nebari Gold Fund 1, LP and Nebari Partners GP II, LLC, indicating a 6.82% stake in Nova Minerals Limited. While the presence of a significant institutional investor can be a positive signal, the filing itself does not contain financial performance data, strategic updates, or other information typically used to make a 'buy' or 'sell' recommendation. Therefore, based solely on this disclosure, a 'hold' recommendation is appropriate, awaiting further operational or financial updates from the company.

Keywords

Nova Minerals Limited, Nebari Gold Fund, Nebari Partners, Schedule 13G, Beneficial Ownership, Ordinary Shares, American Depositary Shares, ADS, Institutional Investor, SEC Filing, Mining, Exploration