{ "docId": "019dd923-622c-750b-8b99-d4bf05137ac7", "docSlug": "e4c92966d8ab", "documentTitle": "Nova Minerals Limited (NVA)", "authorId": "54_Spruce_Point_Capital", "authorName": "Spruce Point Capital Management", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2026-02-20 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 41, "pageCount": 61, "prevPage": 40, "nextPage": 42, "slideType": "expose_contradiction", "function": "expose_contradiction", "density": "overcrowded", "nDataPoints": 8, "notes": "The slide uses a combination of narrative text, data tables, and a callout box to link a controversial individual to the company's filings.", "elementsJson": [ "headline_text", "callout_box", "data_table", "paragraph" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b99-d4bf05137ac7/41", "deckHref": "/decks/019dd923-622c-750b-8b99-d4bf05137ac7", "deckJsonHref": "/decks/019dd923-622c-750b-8b99-d4bf05137ac7.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-d4bf05137ac7#slide-41", "components": [ { "bbox": { "h": 0.05, "w": 0.75, "x": 0.23, "y": 0.69 }, "kind": "callout", "text": "Mochkin's Permanent Ban From Australia's Financial Services", "attrs": null, "subkind": "primary", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2bb33d11-e4c1-423c-b4da-e4c7a6df58ec", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "callout", "text": "Mr. Mochkin is notable for having been banned from the financial services industry by the ASIC for alleged stock market manipulation, false trading, market rigging, and not acting honestly, efficiently and fairly.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-5372-7340-8f98-360e6d972a1b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.43, "x": 0.39, "y": 0.76 }, "kind": "paragraph", "text": "17 people permanently banned from financial services", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "8cdde08a-0d7f-41ce-bdac-af117e7585be", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.07, "w": 0.63, "x": 0.29, "y": 0.84 }, "kind": "paragraph", "text": "Levi Mochkin, undertook never to advise or deal. Alleged stock market manipulation, false trading and market rigging transactions, allegedly not acting honestly, efficiently and fairly.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "8eb65a8b-dd22-4bf8-8368-c67e6e358aca", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.96, "x": 0.02, "y": 0.16 }, "kind": "paragraph", "text": "We are concerned that Ledger Holdings Pty Ltd, an entity affiliated with Levi Mochkin, appeared in the 2022 and 2023 Nova Minerals Annual Reports as controlling unlisted options. There is no mention of why Nova granted his entity control of the options, though we speculate it could be for advisory services. Mr. Mochkin is notable for having been banned from the financial services industry by the ASIC for alleged stock market manipulation, false trading, market rigging, and not acting honestly, efficiently and fairly. There are no allegations of bad faith in relation to his involvement in Nova.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "ddfc359b-3435-47a9-bb3e-4f5b25c1db07", "frameworkName": null, "frameworkSlug": null }, { "bbox": null, "kind": "quote", "text": "Levi Mochkin, undertook never to advise or deal — ASIC 2001-02 Enforcement and Enforceable Undertaking", "attrs": null, "subkind": null, "toolName": "Authority citation", "toolSlug": "authority-citation", "confidence": null, "componentId": "019dd953-5372-7340-8f98-399ce2e57a6b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.98, "x": 0.01, "y": 0.96 }, "kind": "source-note", "text": "Source: Nova 2022 and 2023 Annual Report, ASIC 2001-02 Enforcement and Enforceable Undertaking, Piedmont Lithium filing also linking Mochkin to Ledger.", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4e2d026a-1c2a-4d7a-a794-76b0a3af5f77", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.74, "x": 0.24, "y": 0.33 }, "kind": "table", "text": "NVAOP2 [Unlisted Options @ $2.20 Exp 7/10/2023] – 4 Holders (Holders with more than 20% shown) Name Held at 28 August 2023 % Held EVOLUTION CAPITAL PTY LTD 1,050,000 61.8 LEDGER HOLDINGS PTY LTD 500,000 29.4", "attrs": null, "subkind": "data", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "18a1c573-4572-4862-b17b-1c0905597d01", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.18, "w": 0.74, "x": 0.24, "y": 0.49 }, "kind": "table", "text": "NVAUOP10.ASX [Unlisted Options @ $1.35 Exp 20/05/23] – 2 Holders Name Held at 7 Sept 2022 % Held INTERNATIONAL MARKETING CORP LLC 600,000 54.55 LEDGER HOLDINGS PTY LTD 500,000 45.45 Total 1,100,000 100.00", "attrs": null, "subkind": "data", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "a01a042f-3d29-43a0-8489-3ccd3b536bc3", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.68, "x": 0.28, "y": 0.03 }, "kind": "title", "text": "An ASIC-Banned Financial Advisor Appeared In Previous Nova Filings As Owning Options", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "44fe32d6-5ca2-4316-8518-949f4b1b6c61", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }