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ANCHORAGE - Nova Minerals Limited (NASDAQ:NVA) (ASX:NVA), a mining company with a market capitalization of $205 million, has commenced procurement of critical mining and processing equipment for its Estelle antimony mining operations and downstream refinery at Port Mackenzie, Alaska, according to a company press release. InvestingPro analysis indicates the company maintains a strong financial health score of 3.27 (GREAT), suggesting solid operational foundations for this expansion.
The company is targeting first production of military-grade antimony trisulfide for 2026/27, supported by approximately A$83 million in funding. This includes A$17.5 million in cash and a US$43.4 million (A$65.5 million) 24-month award from the U.S. Department of War to support antimony production in Alaska. The company’s strong liquidity position is reflected in its current ratio of 3.49, indicating ample resources to meet short-term obligations. For deeper insights into Nova Minerals’ financial health and growth potential, InvestingPro subscribers have access to over 10 additional key metrics and analysis tools.
Equipment purchases include mining fleet vehicles, crusher and screening plant, and ore sorters to be installed at both the Whiskey Bravo camp and Port Mackenzie refinery sites. Additional processing infrastructure is being procured for transport to site via snow road in early 2026.
The company reports that ore sorting test work demonstrated potential for onsite recovery and upgrading of antimony ore, with a sample achieving 60.3% antimony recovery while increasing feed grade from 15.2% to 35.2%. While the company is not yet profitable, with an EBITDA of -$2.57 million in the last twelve months, investors have shown strong confidence in its potential, driving a remarkable year-to-date return of 319.31%. InvestingPro’s Fair Value analysis suggests the stock may currently be undervalued, presenting a potential opportunity for investors.
One ore sorter will process stibnite ore stockpiled at the Whiskey Bravo camp, while a second will be located at the Port MacKenzie refinery site to potentially upgrade feedstock from other antimony sources currently under discussion.
Nova Minerals has completed its 2025 drilling and surface sampling programs at the Estelle Project with assays pending. The company plans to update its Mineral Resource Estimate once results are received.
The Estelle Project spans 514 square kilometers of Alaska mining claims and contains multiple mining complexes across a 35 km mineralized corridor with over 20 advanced gold and antimony prospects.
The information in this article is based on a company press release statement.
In other recent news, Nova Minerals Limited has announced several significant developments. The company has secured $43.4 million in Defense Production Act funding from the U.S. Department of War. This funding is intended for the production of antimony trisulfide at Nova’s Estelle Gold and Critical Minerals Project in Alaska, which will aid in developing a domestic antimony supply chain to meet U.S. defense needs. Additionally, Nova Minerals has obtained a land use permit for 42.81 acres near Port MacKenzie, Alaska, where it plans to build an antimony refinery.
Furthermore, the Australian Ambassador to the United States, Kevin Rudd, has requested a briefing from Nova Minerals on their Estelle Gold and Critical Minerals Project. This briefing is in preparation for an upcoming meeting between Australian Prime Minister Anthony Albanese and U.S. President Donald Trump, where critical minerals cooperation will be a key discussion topic. These recent developments highlight Nova Minerals’ strategic moves in the critical minerals sector.
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