Intel stock spikes after report of possible US government stake
ANCHORAGE - Alaska Governor Mike Dunleavy and Australian Consul-General Tanya Bennett have expressed support for Nova Minerals Limited’s (NASDAQ:NVA) Estelle Gold and Critical Minerals Project during recent meetings with company executives. The $81.7 million market cap mining company, which has seen its stock surge over 137% in the past year according to InvestingPro data, is currently focusing on developing its flagship project.
Nova CEO Christopher Gerteisen met with Governor Dunleavy to discuss the project’s progress and infrastructure requirements, including the West Susitna Access Road, Port MacKenzie upgrades, and Alaska LNG development, according to a company press release issued Thursday. While operating with a moderate debt-to-equity ratio of 0.07, the company maintains a healthy current ratio of 1.94, suggesting adequate liquidity to fund its development plans.
The 78.5-mile West Susitna Access Road, supported by the Alaska Industrial Development and Export Authority (AIDEA), would provide year-round access to the Estelle Project. AIDEA recently submitted a permit application for the proposed public and industry road.
Governor Dunleavy has previously voiced support for the road project, stating it "holds significant value for Alaskans" seeking better access to hunting, fishing, recreation, and potential opportunities in mining and manufacturing.
The Australian Consul-General also visited the Estelle Project site, highlighting it as an example of Australia-U.S. collaboration in the strategic minerals sector. During her Alaska visit, Bennett met with Governor Dunleavy and various state agencies.
Nova Minerals’ Estelle Project comprises 514 square kilometers of mining claims in Alaska, containing multiple mining complexes across a 35-kilometer mineralized corridor with over 20 advanced gold and antimony prospects.
The project is located in the Tintina Gold Belt, approximately 150 kilometers northwest of Anchorage. According to the company, a February 2025 report identified Estelle as one of nine global projects with near-term antimony production potential. While the company is not yet profitable, with negative EBITDA of $8.99 million, analysts maintain a strong buy rating with a $25 price target. For deeper insights into Nova Minerals’ financial health and growth prospects, including additional ProTips and detailed analysis, investors can access the comprehensive research report available on InvestingPro.
In other recent news, Nova Minerals Limited has filed a registration statement with the U.S. Securities and Exchange Commission for a secondary public offering of American Depositary Shares (ADSs). The proceeds from this offering are intended to fund resource and exploration programs, feasibility studies, and general working capital. Additionally, Nova Minerals has begun a 3,000-meter diamond drill program at its Stibium prospect in Alaska, focusing on gold and antimony mineralization. This drilling effort targets a potential high-grade zone identified through surface sampling near the company’s Whiskey Bravo camp and Korbel gold deposit.
The company’s board of directors also recently visited the Estelle Gold and Critical Minerals Project in Alaska, engaging with state leaders, federal representatives, and tribal organizations. During this visit, directors toured active drilling operations aimed at advancing resource definition for gold, silver, and antimony. In another development, Nova Minerals has appointed Chaim "Dovi" Berger as an Independent Non-Executive Director, effective July 1, 2025. Berger brings over a decade of experience in finance and legal sectors, with expertise in structuring complex transactions.
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