Nova Minerals Secures US$20M to Advance Alaska Gold Project
Nova Minerals has priced a US$20 million NASDAQ offering to fund exploration and development at its Estelle Gold and Critical Minerals Project in Alaska, signaling a key step forward for the company’s growth ambitions.
- US$20 million underwritten public offering priced at US$6.83 per ADS
- 2,928,300 American Depository Shares issued with 45-day over-allotment option
- Proceeds earmarked for drilling, feasibility, environmental studies, and development
- Offering managed by ThinkEquity, expected to close December 22, 2025
- Estelle Project holds multi-million ounce gold and antimony resources in Alaska
Capital Raise to Fuel Exploration Momentum
Nova Minerals Limited (ASX, NVA, NASDAQ, NVA) has announced the pricing of a significant US$20 million underwritten public offering on NASDAQ, marking a pivotal moment for the company’s flagship Estelle Gold and Critical Minerals Project in Alaska. The offering comprises 2,928,300 American Depository Shares (ADS), priced at US$6.83 each, with an additional 45-day option for underwriters to purchase up to 439,245 ADS to cover potential over-allotments.
This capital injection is designed to accelerate Nova’s exploration and development activities, including expanded drilling programs, feasibility and environmental studies, camp infrastructure expansion, and securing necessary permits. The Estelle Project, located in the prolific Tintina Gold Belt, is already notable for its multi-million ounce gold and antimony resources, positioning Nova to capitalize on both precious and critical minerals demand.
Strategic Use of Proceeds and Market Positioning
Nova’s clear allocation of funds towards advancing the Estelle Project underscores its commitment to transforming exploration success into tangible development milestones. The project’s 514 square kilometers of mining claims host over 20 advanced prospects, including two defined multi-million ounce gold resources and several promising antimony targets with visible surface mineralization.
By leveraging the company’s existing placement capacity under ASX Listing Rules, Nova efficiently navigates regulatory frameworks to expedite capital raising. ThinkEquity’s role as sole book-running manager adds credibility and market reach to the offering, which is expected to close by December 22, 2025, subject to customary conditions.
Implications for Investors and the Broader Mining Sector
This funding round not only strengthens Nova’s financial position but also signals confidence in the Estelle Project’s potential within a globally significant gold belt. The Tintina Gold Belt’s history of hosting large-scale mines, including Kinross Gold’s Fort Knox operation, provides a compelling backdrop for Nova’s ambitions.
Investors will be watching closely how the company deploys these funds to advance feasibility and environmental studies, which are critical steps toward eventual mine development. The inclusion of antimony, a critical mineral with growing strategic importance, adds an additional layer of interest for stakeholders focused on diversified mineral portfolios.
Bottom Line?
Nova’s successful capital raise sets the stage for a transformative phase at Estelle, but execution risks remain as exploration moves toward development.
Questions in the middle?
- Will Nova exercise the over-allotment option to raise additional capital?
- How will upcoming feasibility and environmental studies impact project timelines?
- What are the market implications of advancing antimony alongside gold at Estelle?
