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ANCHORAGE - Nova Minerals Limited (NASDAQ:NVA), a mining company whose stock has surged over 225% in the past year and currently holds a market capitalization of $155.83 million, has secured a land use permit for 42.81 acres of commercial industrial zoned land near Port MacKenzie in Alaska for a proposed antimony refinery, according to a company press release. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 3.49, indicating solid financial flexibility for this expansion.
The permit is part of Nova’s plan to establish a U.S. critical minerals production hub following a $43.4 million award from the U.S. Department of War. While the company is not yet profitable, analysts tracked by InvestingPro maintain a Strong Buy consensus on the stock, with sales growth expected in the current year. The company aims to begin producing military-grade antimony within 24 months.
The proposed refinery site at Port MacKenzie provides access to deep-water port infrastructure in Alaska’s Mat-Su Borough. The location aligns with the developing West Susitna Access Road and other regional projects currently underway.
Port MacKenzie Director David Griffin expressed support for the project, noting it aligns with regional economic growth goals and would enhance supply chains while supporting national security interests.
Nova CEO Christopher Gerteisen called the land acquisition "a defining moment for Nova Minerals and for U.S. critical mineral independence," stating the company is "fast-tracking phase 1 production of military-spec antimony."
Following completion of the initial phase, Nova intends to scale up mining operations and establish a full-scale antimony refinery. The facility would produce antimony trisulfide, antimony trioxide, and antimony metal for both military and industrial applications.
Port MacKenzie features a 1,200-foot deep-draft dock capable of handling large vessels and a 500-foot barge dock, with over 9,000 acres dedicated to commercial and industrial development.
Nova Minerals’ Estelle Project encompasses 514 square kilometers of mining claims in Alaska with multiple gold and antimony prospects. The company owns 85% of the project, which is located in the Tintina Gold Belt.
In other recent news, Nova Minerals Limited has secured $43.4 million in Defense Production Act funding from the U.S. Department of War. This funding is allocated to its U.S. subsidiary, Alaska Range Resources, for the production of antimony trisulfide at the Estelle Gold and Critical Minerals Project in Alaska. The initiative aims to develop a domestic supply chain for military-grade antimony trisulfide to meet U.S. defense needs. Additionally, Nova Minerals has announced its Annual General Meeting of Shareholders will be held virtually on November 10, 2025.
In a strategic move, Nova Minerals acquired a 7.8% stake in Adelong Gold Limited, investing A$1 million, which includes ordinary shares and options. This investment grants Nova a first right of refusal on future antimony offtake agreements from Adelong. U.S. Senator Lisa Murkowski recently visited Nova’s Estelle project, underscoring its potential for domestic antimony production. The project is noted as one of the few globally with near-term antimony production capability, according to RFC Ambrian.
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