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  "documentTitle": "Nova Minerals Limited (NVA)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2026-02-20 00:00:00",
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      "text": "1. Executive Summary\n2. We Express Doubt With Nova’s Ambition To Become An Integrated Producer Of Antimony And Tier 1 Gold Miner\n3. Concerns With The Backgrounds And Relationships of Management, The Board, And Shareholders To Individuals Charged With Market Manipulation By The Australian Regulator (ASIC) And The SEC\n4. Extreme Concerns With Nova’s Geology Consultant Tasked With Data Validation And Quality Control; Is He A “Competent” And “Qualified” Person?\n5. We See Near-Term Downside Of 45% - 60%, And Up To 100% Downside Potential In A Worst Case Scenario",
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