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NVAWW

Nova Minerals Limited

NVAWW

Nova Minerals Limited • NASDAQ
$39.20 ▲ 8.60% (+3.10)
Market Cap $632.27 M
52w High $39.20
52w Low $24.49
Dividend Yield 0%
P/E 0
Volume 2.01K
Outstanding Shares 16.13M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $0 $3.015M ▲ $-7.892M ▼ 0% $-0.029 ▼ $-7.679M ▼
Q2-2025 $0 $1.545M ▼ $-1.19M ▲ 0% $-0.005 ▲ $-649.263K ▲
Q4-2024 $0 $2.137M ▲ $-4.759M ▲ 0% $-0.022 ▲ $-3.934M ▲
Q2-2024 $0 $910.968K ▲ $-6.225M ▼ 0% $-0.029 ▼ $-5.299M ▼
Q4-2023 $0 $893.546K $-3.747M 0% $-0.018 $-353.046K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $9.083M ▲ $112.542M ▼ $2.686M ▼ $102.163M ▲
Q2-2025 $4.086M ▲ $120.44M ▲ $13.397M ▲ $98.898M ▲
Q4-2024 $3.15M ▼ $107.246M ▼ $8.862M ▲ $90.695M ▼
Q2-2024 $6.228M ▼ $110.698M ▼ $7.949M ▼ $95.249M ▼
Q4-2023 $19.241M $122.337M $8.947M $105.603M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $0 $-2.084M ▼ $-1.49M ▲ $45.856K ▼ $-3.993M ▼ $-3.574M ▼
Q1-2025 $0 $0 $-1.582M ▼ $7.075M ▲ $2.973M ▲ $-2.287M ▼
Q4-2024 $0 $0 $-969K ▼ $997K ▲ $-1.379M ▲ $-1.395M ▼
Q3-2024 $0 $0 $-805K ▲ $0 $-1.699M ▲ $-901K ▼
Q2-2024 $0 $0 $-4.767M $0 $-5.541M $-630K

Five-Year Company Overview

Income Statement

Income Statement Nova Minerals is still in the pre-production stage, so it effectively has no operating revenue yet. The small gains and losses seen over recent years reflect exploration and corporate activity rather than a running mine. In practical terms, the income statement is telling you this is an early-stage development company: it spends money to advance its project but does not yet generate sales or operating profit from gold or antimony production.

Balance Sheet

Balance Sheet The balance sheet is modest in size, with assets mainly tied up in project and exploration value rather than factories or large operating infrastructure. Cash is present but limited, and debt so far appears low, which suggests the company has mostly relied on equity funding. This keeps financial leverage contained but also means future project build-out will likely require substantial new capital relative to its current asset base.

Cash Flow

Cash Flow Cash flows are typical of a resource developer: essentially no operating cash coming in and steady cash going out for project work and capital spending. Free cash flow is negative, driven by ongoing investment in the Estelle project and related studies. The company is therefore dependent on external funding—equity, strategic partners, or other sources—to sustain its plans until a producing operation is built and cash-generating.

Competitive Edge

Competitive Edge Nova’s main strength is the scale and uniqueness of its Alaskan resource: a large, undeveloped gold project combined with emerging antimony potential. Its location in a mining-friendly U.S. jurisdiction, plus direct support from the U.S. defense establishment for antimony, adds strategic weight that many peers do not have. The phased development strategy, starting with higher-grade areas, is designed to reduce risk. At the same time, Nova is still a single-project, pre-production company, so it faces intense execution, permitting, financing, and commodity-price risks compared with established gold producers.

Innovation and R&D

Innovation and R&D The company is leaning heavily on technology and process innovation to improve project economics. Its use of X-ray ore sorting aims to upgrade ore before milling, cut processing costs, and shrink the environmental footprint by handling less waste. A three-tier processing strategy—treating high-, medium-, and low-grade ore differently—seeks to squeeze more value out of the deposit, including recovering additional gold around antimony processing. Ongoing drilling, metallurgical testing, and flowsheet refinement function as Nova’s version of R&D, focused on proving that this integrated gold–antimony concept can work at commercial scale.

Summary

Overall, Nova Minerals is an early-stage, high-potential but high-uncertainty story. Financials show a classic explorer-to-developer profile: no revenue, negative cash flow, and reliance on outside capital. The investment case centers on a large gold resource, the added strategic antimony angle, supportive jurisdiction, and a technology-driven processing plan. The upside comes from successfully moving from studies and test work into a financed, permitted, and operating mine; the key risks lie in that long path from concept to commercial production, along with dependence on capital markets and future gold and antimony prices.