Nova Minerals Corp: Annual report
Nova Minerals reported a wider operating loss driven by higher exploration spending, while grant funding and equity offerings increased its cash position.
Mixed for the companyWhat the numbers say
Diluted EPS -$0.72 versus -$0.49; operating cash flow -$8.8M (a year earlier -$7.7M); free cash flow -$11.5M (a year earlier -$7.8M); cash rose by $20.8M to $26.8M while debt $1.3M; diluted share count up 49% (dilution).
What happened
- Loss from operations increased to $(24,098,217) compared to $(9,227,844) in the prior fiscal year.
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