Gold prices tick higher on fresh US tariff threats, Fed rate cut hopes
MELBOURNE - Nova Minerals Limited (NASDAQ:NVA) (ASX:NVA), a mining exploration company with a market capitalization of $66.45 million, announced Monday it has filed a registration statement with the U.S. Securities and Exchange Commission for a secondary public offering of American Depositary Shares (ADSs). According to InvestingPro data, the stock has shown significant volatility, returning over 150% in the past year despite recent pullbacks.
Each ADS will represent 60 ordinary shares of the gold, antimony, and critical minerals exploration company. All ADSs in the offering will be sold by the company, with proceeds intended to fund resource and exploration programs, feasibility studies, and general working capital. InvestingPro analysis shows the company maintains a healthy current ratio of 1.94 and operates with a moderate debt-to-equity ratio of 0.07, suggesting a stable financial position for its expansion plans.
While the final number of ADSs and offering price have not been determined, the company noted in its press release that the assumed price is $12.56 per ADS, based on the June 30, 2025 sale price on the Nasdaq Capital Market.
ThinkEquity is serving as the sole book-running manager for the offering, which remains subject to market conditions and regulatory approval.
Nova Minerals’ ordinary shares will continue trading on the ASX under the symbol NVA, on the OTC Pink market as NVAAF, and on the Frankfurt Stock Exchange as QM3. The company’s ADSs and public warrants will maintain their Nasdaq Capital Market listings under NVA and NVAWW, respectively.
The offering will be conducted within parameters of authorities granted to the company under ASX listing rules 7.1 and 7.1A, according to the press release.
Nova Minerals focuses primarily on advancing its Estelle Project in Alaska, which spans 514 km² of mining claims containing multiple gold and antimony prospects. The company owns 85% of the project, located in the Tintina Gold Belt, 150 km northwest of Anchorage. While currently not profitable, InvestingPro analysis indicates the stock is trading below its Fair Value, potentially offering an opportunity for investors interested in early-stage mining companies. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Nova Minerals Limited has commenced a 3,000-meter diamond drilling program at its Stibium prospect in Alaska, focusing on gold and antimony mineralization. This marks the first-ever drilling at the site, with the company aiming to establish a maiden Mineral Resource Estimate for both minerals. Surface sampling has revealed a mineralized footprint with significant gold and antimony concentrations. Nova Minerals has also applied for U.S. Department of Defense funding to advance its antimony assets, which could lead to the development of an antimony processing hub and further drilling activities. Additionally, Nova Minerals announced the appointment of Chaim "Dovi" Berger as an Independent Non-Executive Director. Berger will contribute his expertise in structuring complex transactions and regulatory compliance to the company, serving on both the Audit & Risk Committee and the Remuneration & Nomination Committee. These developments come as Nova continues to focus on its Estelle Project in Alaska, which includes multiple mining complexes and advanced prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.