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Nova Minerals ( (AU:NVA) ) has issued an update.
Nova Minerals Limited has announced a strategic investment in Adelong Gold Limited, acquiring a 9.4% stake in the company. This move aligns with Nova’s strategy to partner with high-growth resource companies. Adelong Gold focuses on gold-antimony exploration and near-term production with projects in Australia and Brazil. The investment is expected to provide Nova with significant upside potential without affecting its ongoing Estelle Project operations. The Estelle Project remains Nova’s primary focus, with anticipated developments including drill assay results and an updated Mineral Resource Estimate. Nova’s strategic investment in Adelong Gold is poised to enhance its market positioning, offering potential growth through Adelong’s high-grade exploration projects and near-term production capabilities. This partnership is expected to generate substantial value for shareholders of both companies.
More about Nova Minerals
Nova Minerals Limited is a Gold, Antimony, and Critical Minerals exploration and development company focused on advancing the Estelle Project in Alaska, USA. The project spans 514 km² of mining claims and includes multiple mining complexes along a 35 km mineralized corridor. Nova Minerals is engaged in exploration across over 20 advanced Gold and Antimony prospects, with significant resources already identified in the prolific Tintina Gold Belt.
Average Trading Volume: 564,380
Technical Sentiment Signal: Hold
Current Market Cap: A$120.5M
Find detailed analytics on NVA stock on TipRanks’ Stock Analysis page.