Nova Minerals Reports Strong Funding Position and Antimony Project Progress in Q4 2025

summarizeSummary

Nova Minerals reported a strong financial position with A$59.2 million cash and significant progress on its U.S. Department of War-funded antimony project, alongside ongoing gold asset development.

check_boxKey Events

• Strong Funding Position

  The company reported access to over A$106 million in funding at quarter-end, including A$59.2 million in cash, US$30.4 million (A$45.3 million) remaining from the U.S. Department of War (DoW) award, and approximately A$1.5 million in liquid investments and in-the-money warrants, with no debt.

• Antimony Project Advancement

  Significant progress was made on the DoW-funded antimony initiatives, including the commencement of procurement for critical mining and processing equipment and securing industrial-zoned land for a proposed antimony refinery at Port Mackenzie, targeting first production in late 2026/27.

• Nasdaq Capital Raise Confirmed

  The company confirmed the completion of a US$20 million Nasdaq capital raise in December 2025, pricing approximately 2.93 million ADSs at US$6.83 per ADS, contributing to the strengthened balance sheet.

• Gold Asset Development Continues

  The 2025 gold drilling program at RPM North and RPM Valley was completed, with results announced post-period in January 2026, expected to support an increase in Measured and Indicated Mineral Resources. Pre-Feasibility Study (PFS) work is ongoing.

auto_awesomeAnalysis

Nova Minerals' quarterly report highlights a robust financial position and significant operational advancements, particularly in its strategic antimony project. The company confirmed access to over A$106 million in funding, including A$59.2 million in cash and the remainder of the US$43.4 million non-dilutive grant from the U.S. Department of War. This substantial funding provides a strong runway of nearly six quarters, significantly de-risking its development plans. Operational progress on the antimony project, including equipment procurement and securing land for a refinery, demonstrates tangible steps towards establishing a domestic supply chain. While the US$20 million Nasdaq offering was dilutive, it contributed to the strengthened balance sheet, enabling continued exploration and development across both gold and critical minerals assets.