SCHEDULE: Nebari Gold Fund Discloses 4.75% Stake in Nova Minerals

Nebari Gold Fund 1, LP and its general partner, Nebari Partners GP II, LLC, reported a 4.75% beneficial ownership stake in Nova Minerals Limited as of September 30, 2025.

Summary

• Nebari Gold Fund 1, LP and Nebari Partners GP II, LLC collectively reported beneficial ownership of 19,102,958 ordinary shares of Nova Minerals Limited.
• This ownership represents 4.75% of the company's 402,141,917 fully paid issued and outstanding ordinary shares.
• The reporting persons hold shared voting and shared dispositive power over these 19,102,958 shares.
• The filing is an Amendment No. 5 to a Schedule 13G, indicating a passive investment intent, not for changing or influencing control of the issuer.
• Each American Depositary Share (ADS) of Nova Minerals Limited represents 60 underlying ordinary shares.

Sentiment

Score: 5

Explanation: The filing is a routine beneficial ownership disclosure (Schedule 13G Amendment), indicating a passive investment. It provides factual information without expressing explicit positive or negative sentiment regarding the company's performance or prospects.

Positives

• A significant institutional investor maintains a substantial stake, indicating continued interest in Nova Minerals Limited.

Negatives

• No specific negative information is disclosed in this beneficial ownership report.

Risks

• No specific risks are mentioned in this beneficial ownership disclosure.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding Nova Minerals Limited's future performance or operations.

Management Comments

• The securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

Industry Context

This filing reflects a passive investment by a gold-focused fund in a minerals exploration company, a common practice for institutional investors seeking exposure to the mining sector. It indicates continued confidence in the long-term prospects of Nova Minerals Limited within the broader resources industry.

Comparison to Industry Standards

• This filing is a standard Schedule 13G disclosure, indicating a passive investment below the 5% threshold that would typically trigger a more active Schedule 13D filing.
• The ownership percentage of 4.75% is a common level for institutional investors to hold without seeking active control, aligning with typical passive investment strategies seen across the mining sector.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder's stake, which can be viewed as a vote of confidence.

Next Steps

• No specific future actions or milestones are mentioned in this beneficial ownership filing.

Key Dates

Keywords

Nova Minerals Limited, Nebari Gold Fund, Nebari Partners, SEC filing, Schedule 13G, beneficial ownership, ordinary shares, American Depositary Shares, mining, gold, investment fund