Nova Minerals Limited American Depositary Shares - NVA STOCK NEWS

Nova Minerals (Nasdaq: NVA, ASX: NVA), a gold and critical minerals exploration company, has announced the pricing of an underwritten public offering of 430,000 American Depository Shares (ADS) at $5.00 per ADS. This offering is expected to generate gross proceeds of $2,150,000 before deducting underwriting discounts and expenses. Nova has also granted underwriters a 45-day option to purchase up to an additional 43,000 ADSs to cover over-allotments.

The company plans to use the proceeds for resource and exploration field programs, including additional drilling and exploration, feasibility studies, and general working capital. The offering is set to close on September 25, 2024, subject to customary closing conditions. ThinkEquity is acting as the sole book-running manager for this offering.

Nova Minerals and Soligenix interviews will air on the RedChip Small Stocks, Big Money™ show on Bloomberg TV on September 21, 2024, at 7 p.m. ET. Nova Minerals, with its Estelle Gold Project in Alaska, holds a 5.2 million ounce gold resource and trades at A$6 per ounce, significantly below the sector average. The company is conducting a Feasibility Study to optimize project economics.

Soligenix, a late-stage biopharmaceutical company, has products targeting a potential $2 billion in annual global sales. Their lead product, HyBryte™, for cutaneous T-cell lymphoma, has shown positive Phase 3 results. The company is also developing treatments for psoriasis and Behçet's Disease, and has collaborations for vaccine development, including a filovirus vaccine program that has demonstrated complete protection in non-human primates.

Nova Minerals (NASDAQ: NVA) (ASX: NVA) (FRA: QM3), a gold and critical minerals exploration company, has filed a registration statement on Form F-1 with the SEC for a secondary public offering of American Depositary Shares (ADSs) in the United States. Each ADS will represent 60 ordinary shares. The offering's size and price are yet to be determined, with an assumed price of US$6.53 per ADS based on the September 16, 2924 sale price on Nasdaq.

The offering is subject to market conditions and will be conducted within ASX listing rules 7.1 and 7.1a. Proceeds will fund resource and exploration programs, including drilling, feasibility studies, and working capital. ThinkEquity is the sole book-running manager. The company's ordinary shares will continue trading on ASX, OTC Pink, and Frankfurt Stock Exchange, while ADSs and warrants will remain on Nasdaq.

Nova Minerals (NASDAQ: NVA) has executed a variation agreement with Nebari Gold Fund 1, LP, its largest institutional shareholder and convertible note holder. The agreement reduces the month-end cash covenant from US$2m to A$1m and offers an option to extend the convertible facility by 12 months to November 29, 2026. This frees up approximately A$2m, allowing Nova to accelerate the RPM early start-up option to a Feasibility Study (FS) for delivery in 2025.

The company is exploring routes to develop the RPM gold deposit, aiming for a lower capex, high-margin, scalable project to generate early cash flow. Nova is also in advanced discussions with the US Department of Defense regarding a potential starter antimony operation at Stibium. The variation agreement amends the conversion price from A$0.53 to A$0.25, subject to shareholder approval.

Nova Minerals (NASDAQ: NVA) has collected bulk antimony samples from its Estelle Gold-Antimony Project in Alaska for metallurgical testing. The company gathered 2,500kg from Stibium and 500kg from Styx prospects to develop a process flow sheet and plant design for a potential fast-track antimony production scenario. Nova has submitted a proposal to the US Department of Defense for grant funding to accelerate antimony production at Estelle.

CEO Christopher Gerteisen highlighted the significance of these antimony discoveries, especially in light of China's recent export restrictions. Nova sees an opportunity to supply antimony to the US domestic market in the near term. The company is working with METS Engineering and the University of Alaska-Fairbanks CORE-CM group for test work and studies. Additional rock and soil samples have been sent for analysis, with results expected soon.

Nova Minerals (NASDAQ:NVA) has issued a clarification regarding its shares outstanding and market capitalization data. The company's correct market capitalization, based on its American Depository Shares (ADS) on Nasdaq, was approximately $24.8 million as of August 23, 2024. This figure contrasts with the erroneous $1.5 billion market cap reported by some U.S. financial data vendors.

The discrepancy arose from vendors multiplying the current ADS price by the total ordinary shares outstanding on the ASX, instead of the ADS count. Nova's Nasdaq listing in July 2024 involved issuing ADS at a ratio of 1 ADS for every 60 ordinary shares listed on the ASX. The company is actively working to correct this misinformation with data providers.

Nova Minerals (NASDAQ: NVA) has provided an update on its Estelle Gold-Antimony Project in Alaska. The company is progressing with its Feasibility Study (FS), considering two development options: a smaller-scale operation at the high-grade RPM deposit for potential near-term cashflow, and a larger mining operation for increased gold production. Nova is also exploring the possibility to fast-track the Stibium gold-antimony prospect with potential US Department of Defense support, following China's export restrictions on antimony.

At RPM, 11 drill holes have been completed to date, targeting near-surface high-grade inferred material. The Stibium prospect continues to impress, with extensive surface sampling underway and several tons of bulk samples being collected for metallurgical testing. Nova has also staked approximately 1km² of additional claims at Stibium.

Nova Minerals (NASDAQ: NVA) has announced the commencement of resource definition drilling and exploration field programs at its Estelle Gold Project in Alaska. The company is focusing on Feasibility Study (FS) stage drilling at the high-grade RPM deposit to increase and prove-up resources. With a total defined 5.2 Moz Au in-pit constrained S-K 1300 compliant resource across 4 deposits, Nova is considering two strategies for production:

1. Establishing an initial low capex smaller scale operation at RPM for early cashflow.
2. Developing a higher capex larger mining operation for increased gold production.

The company's 2024 work plan includes resource drilling, mineral resource estimate updates, LIDAR surveys, heap leach metallurgical test work, geotechnical studies, and ore sorting test work. Nova is also exploring the potential of critical elements like antimony as by-product credits.

Nova Minerals (Nasdaq: NVA, ASX: NVA) has completed its US NASDAQ listing and is advancing Pre-Feasibility Study (PFS) level studies for its Estelle Gold Project in Alaska. Key highlights include:

1. Ramped up metallurgical test work with METS Engineering, including heap leach studies.
2. Commenced discussions with Steinert for advanced ore sorting test work.
3. Actively pursuing US federal and state grants for critical minerals studies and development.
4. Holds approximately $10.6m in cash and liquid investments.
5. Successfully raised US$3.3m through the NASDAQ listing.
6. Extended convertible facility with Nebari Holdings, for 12 months.
7. Commenced 2024 field program focusing on high-grade zones at RPM.

The company continues to advance towards completing the PFS and expects to provide updates on drilling results, metallurgical test work, and an updated Mineral Resource Estimate in the coming months.