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ANCHORAGE - U.S. Senator Lisa Murkowski visited Nova Minerals Limited’s (NASDAQ:NVA) Estelle Gold and Critical Minerals Project in Alaska, highlighting the site’s potential role in domestic antimony production, according to a company press release. The company, currently valued at $77 million, has seen its stock surge 72% over the past year, according to InvestingPro data.
The project has been identified as one of only nine globally, and one of just two in the United States, with near-term antimony production capability, according to a February 2025 report by research firm RFC Ambrian. While the company maintains a healthy balance sheet with a debt-to-equity ratio of just 0.07, InvestingPro analysis indicates the company is not yet profitable, with negative EBITDA of $9 million in the last twelve months.
Antimony, considered a critical mineral, is an essential component for U.S. military applications. During her visit, Senator Murkowski examined stibnite (antimony trisulfide) samples collected from the site.
"Our lack of mineral security is our nation’s Achilles’ heel - a vulnerability that leaves us at the mercy of politically unstable and often adversarial nations for the basic building blocks of modern society," Murkowski said in a March 21 statement cited in the release.
The senator’s visit follows recent meetings between Nova’s CEO Christopher Gerteisen and Alaska Governor Mike Dunleavy, as well as a site visit by Australian Consul General Tanya Bennett.
Nova Minerals stated it has accumulated surface stibnite stockpiles that could potentially produce antimony trisulfide for U.S. strategic purposes, though the material would require further concentration to meet military specifications.
The company’s Estelle Project, located 150 km northwest of Anchorage, spans 514 square kilometers and contains multiple mining complexes across a 35 km mineralized corridor with gold and antimony prospects.
The project’s development aligns with recent Presidential executive orders aimed at increasing domestic mineral production for economic and national security objectives. Trading at $10.64, analysts maintain a bullish outlook with a $25 price target, according to InvestingPro data, which offers comprehensive analysis through its Pro Research Report, available for over 1,400 US stocks.
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 will be used to fund resource and exploration programs, feasibility studies, and general working capital. Additionally, Nova Minerals has commenced a 3,000-meter diamond drilling program at its Stibium prospect in Alaska, targeting gold and antimony mineralization. The drilling aims to explore a potential high-grade gold-antimony zone identified through surface sampling.
Furthermore, the company has announced the appointment of 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 complex transactions. Nova Minerals’ board of directors recently visited the Estelle Gold and Critical Minerals Project in Alaska, engaging with state leaders and federal representatives to discuss resource definition. Support for the project was also expressed by Alaska Governor Mike Dunleavy and Australian Consul-General Tanya Bennett during recent meetings with company executives.
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