Nova Minerals acquires 7.8% stake in Adelong Gold

MELBOURNE - Nova Minerals Limited (NASDAQ:NVA), a mining exploration company with a market capitalization of $87.62 million and an impressive 105.74% return over the past year according to InvestingPro data, has made a strategic investment in Adelong Gold Limited (ASX:ADG), acquiring a 7.8% stake in the gold-antimony focused exploration company, according to a press release issued Tuesday.

The investment, valued at A$1 million, includes 200 million ordinary shares at $0.005 per share and 200 million listed options exercisable at $0.008, expiring in 2029. The deal also secures Nova a first right of refusal over future antimony offtake agreements from Adelong. Nova’s conservative approach to the deal aligns with its moderate debt profile, maintaining a healthy debt-to-equity ratio of 0.07.

As part of the agreement, Nova will nominate Louie Simens to join Adelong’s board of directors and has committed to a 12-month voluntary escrow period for its shares.

Adelong Gold maintains a portfolio of projects across Australia and Brazil, including the Apollo and Lauriston prospects in Victoria, Australia, located near Agnico Eagle’s Fosterville Mine. According to the press release, Lauriston’s historical production reached approximately 233,000 ounces at an average grade of 20.7 g/t gold.

Nova CEO Christopher Gerteisen characterized the investment as complementary to the company’s ongoing development at its flagship Estelle Gold and Critical Minerals Project in Alaska, which remains Nova’s primary focus.

The company stated that its current drilling season at Estelle is nearing completion, with upcoming catalysts including drill assay results, metallurgical test work, and an updated Mineral Resource Estimate expected to enhance the existing gold resource.

Nova Minerals also noted that its application for U.S. Department of Defense grants to potentially accelerate its antimony project continues to progress.

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). Each ADS represents 60 ordinary shares, and the proceeds will be used for resource and exploration programs, feasibility studies, and general working capital. U.S. Senator Lisa Murkowski visited the company’s Estelle Gold and Critical Minerals Project in Alaska, highlighting its potential role in domestic antimony production. The project is one of only two in the United States identified for near-term antimony production capability. Alaska Governor Mike Dunleavy and Australian Consul-General Tanya Bennett have also expressed support for the Estelle project, discussing infrastructure requirements with company executives. Nova Minerals’ board of directors recently visited the site, meeting with state leaders and federal representatives to advance resource definition of gold, silver, and antimony. Additionally, Nova Minerals has appointed Chaim "Dovi" Berger as an Independent Non-Executive Director, bringing over 10 years of experience in finance and legal sectors. These developments mark a period of significant activity and strategic planning for Nova Minerals.

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