1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Metrics vs Peers
3. Price Chart
4. Valuation
5. Offer Terms
6. Financial Statements
Discussion
Research report, target price, DCF and forensic scores are for subscribers. View plans
Symbol
NVA
Listed on
2024-07-24
Sector
Materials
Subsector
Metals & Mining
Offer Price
$6.92
first filed $8.00–$10.00Shares Offered
475K
4.06M
$28.1M
11.7%
Implied Upside vs Midpoint
Description
We are an exploration stage company, and our flagship project is the Estelle Gold Project located in Alaska. We have no operating revenues and do not anticipate generating revenues in the foreseeable future. However, we expect to complete our first gold pour in late 2028, although there is no assurance that we will meet that timeframe and consummation of any such commercial production is subject to the risks described herein. The Estelle Gold Project, or the Project, which is 85% owned by us, contains multiple mining complexes across a 35km long mineralized corridor of over 20 identified gold prospects, including two already defined multi-million ounce resources across four deposits containing a combined S-K 1300 compliant 5.17 million ounce (“Moz”) Au, of which Nova’s 85% attributable interest is 4.41 Moz Au. Recently the Company has also discovered antimony and other critical minerals coincident with the gold in surface sampling on numerous prospects across the project. The Project, which is comprised of 513km2 of unpatented mining claims located on State of Alaska public lands, is situated on the Estelle Gold Trend in Alaska’s prolific Tintina Gold Belt, a province which hosts a 220 Moz documented gold endowment and some of the world’s largest gold mines and discoveries including Victoria Gold’s Eagle Mine and Kinross Gold Corporation’s Fort Knox Gold Mine. --- Our vision is to develop the Estelle Gold Project to become a world class, tier-one, global gold producer. The project contains multiple mining complexes across a 35km long mineralized corridor of over 20 identified gold prospects, including two already defined multi-million ounce resources across four deposits containing a combined S-K 1300 compliant 5.17 Moz Au (0.18 Moz Au Measured, 2.54 Moz Au Indicated, and 2.45 Moz Inferred) of which Nova’s 85% attributable interest is 4.41 Moz Au (0.16 Moz Au Measured, 2.22 Moz Au Indicated, and. 2.03 Moz Inferred). Recently the Company has also discovered antimony and other critical minerals coincident with the gold in surface sampling on numerous prospects across the project. --- Our principal executive office is Suite 5, 242 Hawthorn Road, Caulfield, Victoria 3161 Australia. The telephone number at our executive office is +61 3 9537 1238. Our registered office is located at Suite 5 on 242 Hawthorn Road in Caulfield, Australia. Our agent for service of process in the United States is our wholly-owned U.S. subsidiary Alaska Range Resources LLC, 1150 S Colony Way, Suite 3-440, Palmer, AK 99645. Our website can be found at www.novaminerals.com.au.
| Metric | Value | Peer median | Among peers | |
|---|---|---|---|---|
Net cash / market cap | 45.2% | 0.7% | ||
Debt / equity | 0.00 | 0.00 | ||
Current ratio | 5.49 | 1.15 | ||
9 premium metrics: DCF value / price, Growth the price needs: how common, Last 12 months vs full year and 6 more Unlock | ||||
▼ Priced at $6.92, 23% below the midpoint of the first filed range ($8.00–$10.00, 2024-05-28).
Each filing is plotted ahead of the first trading day on the price chart.
| Filed | Form | Price range | Price | Shares offered | Deal size |
|---|---|---|---|---|---|
| 2024-05-28 | F-1/A | $8.00–$10.00 | — | 888,900 | $8.0M |
| 2024-06-11 | F-1/A | $8.00–$10.00 | — | 888,900 | $8.0M |
| 2024-06-24 | F-1/A | $8.00–$10.00 | — | 888,900 | $8.0M |
| 2024-07-05 | F-1/A | $7.00–$9.00 | — | 625,000 | $5.0M |
| 2024-07-15 | F-1/A | $7.00–$9.00 | — | 625,000 | $5.0M |
| 2024-07-19 | F-1/A | $7.00–$9.00 | — | 475,000 | $3.8M |
| 2024-07-24 | 424B4 | — | $6.92 | 475,000 | $3.3M |
Nova Minerals Ltd income statement and balance sheet, FY Jun 2023 to FY Jun 2026, as reported in SEC filings (AUD).
| Metric | FY Jun 2023 | FY Jun 2024 | FY Jun 2025after listing | FY Jun 2026after listing |
|---|---|---|---|---|
| Net income | (AUD 11.6M) | (AUD 16.4M) | (AUD 11.8M) | (AUD 25.6M) |
| Metric | FY Jun 2023 | FY Jun 2024 | FY Jun 2025after listing | FY Jun 2026after listing |
|---|---|---|---|---|
| Total assets | AUD 122M | AUD 107M | AUD 10.8M | AUD 46.2M |
| Total liabilities | AUD 8.9M | AUD 8.9M | AUD 1.9M | AUD 22.6M |
| Total equity | AUD 113M | AUD 98.4M | AUD 8.9M | AUD 23.6M |
| Cash & equivalents | AUD 19.2M | AUD 3.1M | AUD 5.9M | AUD 26.8M |