Nova Minerals Ltd. (NVA)
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Nova Minerals Limited (NVA) Shareholder/Analyst Call Transcript
Nova Minerals Limited ( NVA ) Shareholder/Analyst Call November 9, 2025 6:00 PM EST Company Participants Richard Beazley Ian Pamensky - Company Secretary Louie Simens - COO & Executive Director Craig Bentley - Director of Finance & Compliance and Director Christopher Gerteisen - CEO & Executive Director Conversation Richard Beazley Good morning, ladies and gentlemen. Welcome to the 2025 AGM for Nova Minerals Limited.
Nova strengthens balance sheet and board as drilling accelerates at Estelle
Nova Minerals Ltd (ASX:NVA, NASDAQ:NVA, OTC:NVAAF) has bolstered its corporate position with a successful US$12.1 million (A$18.4 million) capital raise in July 2025, following the end of the June quarter. The funds will be used to accelerate drilling, complete feasibility studies and provide general working capital across its Estelle Gold and Antimony Project in Alaska. As at June 30, Nova held A$9.08 million in cash and carried no debt. Governance was strengthened with the appointment of Chaim (Dovi) Berger as an independent non-executive director. Berger, a US-based attorney and CPA, brings over a decade of experience in corporate law, finance and mergers and acquisitions. Operationally, Nova has started a 15,000-metre drill campaign across the Estelle Project. This includes 10,000 metres at the RPM deposit to expand and upgrade resources, and test high-grade gold targets along the intrusive-hornfels contact zone. Additional reverse-circulation (RC) drilling will test the RPM North ridgeline and a glacial debris lobe where surface samples returned up to 52.3 grams per tonne (g/t) gold. At the Korbel deposit, 2,000 metres of drilling are underway to evaluate a potential higher-grade starter pit. Surface sampling continues across key areas to generate new drill targets. Drilling began at the Stibium prospect, targeting a maiden resource for both gold and antimony. The area has yielded rock samples with grades up to 141 g/t gold and 60.5% antimony. Read more: Nova Minerals starts drilling at Stibium gold-antimony target In the last week, Nova has intensified its 2025 drilling activities at the RPM deposit, part of the Estelle Gold and Critical Minerals Project in Alaska, by deploying two diamond drill rigs and one reverse circulation (RC) rig operating on a continuous basis. The expanded program is designed to deliver on multiple fronts. Key objectives include expanding and linking the RPM North and RPM Valley zones, evaluating near-surface mineralised material within the valley fill, and initiating a maiden drilling campaign at the Stibium prospect, which is prospective for antimony and gold. Meanwhile, Nova’s DoD grant application remains at an advanced stage, with a positive outcome expected to expand drilling and test new targets such as Styx. Versarien PLC (AIM:VRS, OTC:VRSRF) shares dropped on Tuesday after revealing that an asset sale process failed to find buyers. The company said it now expects that Versarien Graphene Limited will shortly be placed into administration and Cambridge Graphene Limited and 2-DTech Limited will commence the process of voluntary liquidation. Its Korean unit has already ceased operations. Going forward, the group will comprise Versarien Plc, Gnanomat SL and Total Carbide Limited (the latter of which is still for sale). The plan ahead is to focus on hybrid nanomaterials and energy storage technologies. It expects to conserve further cash and extend the group's forecast runway through to the end of August, potentially allowing time for the completion of a material strategic investment.
Nova Minerals starts drilling at Stibium gold-antimony target
Nova Minerals Ltd (ASX:NVA, NASDAQ:NVA, OTC:NVAAF) Ltd has begun a 3,000-metre diamond drilling program at its Stibium prospect, targeting a maiden Mineral Resource Estimate (MRE) for both gold and antimony. Located near the company’s Whiskey Bravo camp and Korbel gold deposit in Alaska, the campaign will test high-grade mineralisation identified in previous surface sampling. The company is also continuing to advance its application for funding through the United States Department of Defense (DoD) to accelerate its antimony value chain. If successful, the funding will support further drilling, the construction of a processing facility at Port Mackenzie, and the engagement of refining expertise and offtake partners. “We’re excited to commence the first-ever drilling at our Stibium antimony-gold prospect—an important milestone that complements, our continued focus on advancing our Tier-1 gold and antimony assets across the broader Estelle Project,” Nova CEO, Christopher Gerteisen said. “Despite highly encouraging surface sampling results collected by our geological team over the past two years, which suggest the presence of a potentially large and high-grade gold-antimony system, Stibium remains untested at depth. With this initial drilling program, our goal is to define a maiden Mineral Resource Estimate for both gold and antimony at Stibium later this year. “In parallel, we are progressing discussions with the US Department of Defense regarding funding support to fast-track antimony production—from mining through to downstream refining. Nova is well advanced in identifying a potential US-based metallurgical refining site and with potential DoD funding may rapidly expand drilling capacity at site. “Through our Estelle Project and potential partnerships with other regional sources, we believe that Nova is well positioned to help re-establish Alaska as a strategic supplier of antimony to the United States which if successful could enhance national security and reinforce supply chain resilience.” The first drill hole is focused on an area with extensive surface sampling that revealed strong gold and antimony values. Key results include rock samples assaying up to 60.5% antimony (Sb) and 141 grams per tonne (g/t) gold (Au), and soil samples showing up to 2.8% Sb and 25.6 g/t Au. The mineralised zone spans approximately 800 by 400 metres. This drilling is the first to test the system at depth and is intended to validate the scale of the mineralisation footprint. A second diamond drill rig and a company-owned reverse circulation rig are being mobilised, with drilling scheduled to start later in June. Nova’s application for potential United States Department of Defense funding aims to support downstream processing of antimony, a critical mineral for defence and industrial applications. If approved, the funding will be used to expand the drill program with additional rigs and to develop a central processing hub at Port Mackenzie. The facility would include workshops to support ongoing gold operations at RPM and Korbel and serve as a strategic antimony refining site. Nova is also in discussions with the Port Mackenzie Authority regarding a long-term lease and is evaluating options to grow the site footprint. In anticipation of a favourable funding outcome, Nova is progressing plans to secure strategic partnerships for antimony offtake and has commenced discussions with a world-renowned expert in antimony refining. The company aims to establish Alaska as a reliable domestic supplier of this critical mineral, strengthening US supply chain resilience and enhancing national security. Nova’s broader Estelle Project contains numerous gold and antimony prospects along a 35-kilometre corridor and includes two defined multi-million-ounce gold resources. The company is well positioned to expand this footprint as 2025 exploration programs progress. GameStop Corp (NYSE:GME) shares moved lower after Tuesday’s closing bell as the video game retailer reported a year-over-year drop in sales for the first quarter. Sales for the period ended May 3 were $732.4 million, down from $881.8 million in the year-ago quarter and missing Street forecasts of about $750 million. On a positive note, the company swung to a profit during the quarter, with net income of $44.8 million, compared to a net loss of $32.3 million for the comparable period a year earlier. This was in part driven by a decrease in selling, general and administrative expenses to $228.1 million, down from $295.1 million in the prior year’s first quarter. Cash, cash equivalents, and marketable securities totaled $6.4 billion at the end of the quarter, up from $1 billion in Q1 2024. Subsequent to the quarter end, GameStop completed the divestiture of its Canadian business on May 4. Between May 3 and June 10 the company purchased 4,710 Bitcoin for cash, as part of its recently announced Bitcoin treasury strategy. Shares of GameStop traded down 4% at about $29 following the release of its earnings report.
Nova Minerals identifies new high-grade zone with samples up to 52.3 g/t at Estelle Gold and Critical Minerals Project
Nova Minerals Ltd has identified a new zone of mineralisation north of the RPM deposit, part of the Estelle Gold and Critical Minerals Project in Alaska, US. Surface sampling of the wider regional area north of the current RPM deposit generated rock chip samples above 1 g/t gold in 20 of 40 samples taken, with standout grades including 52.3 g/t gold, 18.4 g/t gold and 17.5 g/t gold. Read: Nova Minerals hits bonanza gold at RPM ahead of resource update The company also collected 100 soil samples, with 11 grading greater than 0.5 g/t gold up to a high of 4.8 g/t gold, and 138 glacial till samples with 34 grading at least 1 g/t gold, 10 greater than 2 g/t and a high of 3.6 g/t gold. Rock chip samples, 52.3 g/t gold (left) and 17.5 g/t gold (right). "While it may be more typical of geologists to sample glacial till in the hope of vectoring towards an ore deposit, here at RPM the ore deposit may have vectored us towards the glacial till,” Nova Minerals head of exploration Hans Hoffman said. “We can see the deposit being actively eroded by a small pocket glacier and our till sampling program this year has revealed a portion of RPM spread along the hillside and down the valley below. “While I love speculating how many ounces may be contained in one specific debris lobe, we will need to drill to confirm thickness, composition and grade continuity. “With maximum observed surficial relief of nearly 40 metres, I will continue to be optimistic that the fine and heavy nature of gold has continued to migrate through the entire thickness of this unconsolidated till. “In addition, we are seeing glimpses of mineralisation in the hornfels, which we believe may be capping RPM-style intrusives." NVA has mapped a glacial debris lobe where 68 till samples averaged 1.1 g/t gold over 1.7 kilometres of strike, offering a sizeable drilling target for further investigation. Read more: Nova Minerals outlines extensive antimony-rich zone with rock chips up to 56.7% at Estelle Project, Alaska Banyan Gold CEO Tara Christie joined Steve Darling from Proactive at the Vancouver Resource Investment Conference (VRIC) to provide updates on the company’s flagship AurMac Property in the Yukon and discuss recent developments. Christie shared insights into the ongoing work at the AurMac Property, emphasizing the significance of the project within the company’s portfolio. She also highlighted recent drill results that continue to demonstrate the property's potential and reinforce its importance as a cornerstone asset for Banyan Gold. Looking ahead, Christie expressed optimism about 2025, describing it as a pivotal year for the company. With plans to build on recent successes and advance exploration efforts, Banyan Gold is positioning itself to unlock significant value at AurMac and drive growth for its shareholders. #proactiveinvestors #otcmarketsgroup #vric #tsxv #byn #otcqb #byagf
Nova Minerals unlocks further Estelle potential with samples up to 360 g/t gold and 74.5 ppm gallium
Nova Minerals Ltd has unlocked further potential at its Estelle Project in Alaska’s prolific Tintina Gold Belt with gold samples up to 360 g/t at Wombat prospect along with high grades of the critical mineral gallium up to 74.5 parts per million (ppm). Surface sampling at Wombat in 2024 has revealed exceptionally high-grade gold in quartz veins with seven rock samples returning greater than 2 g/t gold and a high of 360 g/t, the second-highest gold sample found at Estelle to date. In addition, 10 multi-element samples have graded in excess of 30 ppm gallium, which is another critical mineral for which the US Department of Defense is seeking to secure a domestic supply chain for after China recently banned all exports. Another prospect at the gold and critical minerals project, Stoney, has also delivered gold, silver, copper and antimony in surface sampling, further enhancing the Estelle Gold and Critical Minerals Project’s potential. Nova’s head of Exploration Hans Hoffman said: “Wombat and Stoney are early-stage prospects in the heart of the Estelle claim block. "The consistency of vein-hosted mineralization at both of these prospects will warrant drill testing down the road as we continue to unlock the potential of the Estelle Gold and Critical Minerals Project.” During the 2024 field season Nova continued surface exploration mapping and sampling program across the Estelle claim block with a particular focus on following up results at prospects identified in the 2023 season. There were 511 soil samples, 225 rock samples and approximately 5 tonnes of bulk sample material collected across the property. As a result, a number of prospects have been confirmed: Final results from the soil and rock chip samples taken from the wider RPM area in 2024 will be reported shortly. At Wombat, a total of 17 rock samples were collected, seven of which were greater than 2 g/t gold, with exceptional grades of 360 g/t and 93.2 g/t recorded. A lab discrepancy in a rock sample previously reported as being from RPM in 2023 was actually found to have come from the Wombat prospect and graded 298 g/t when re-analyzed in 2024. In addition to the high-grade gold results, Wombat also contains 10 of the 15 highest gallium values identified across the Estelle Project. In granitic rocks, concentrations of gallium greater than 30 ppm can be considered high-grade. Gallium, which has not previously been reported in Estelle exploration results, has been listed as a critical mineral by the USGS, and it is used in electronic circuits, semiconductors, LEDs and radar systems. The US Department of Defense is also seeking to secure a domestic gallium supply chain since China recently banned all exports of this critical mineral. At Stoney in 2024 one day was spent to attempt to expand the previous geochemical coverage of the vein main vein occurrence. Accessing the vein directly is difficult due to terrain and ice, however, a 250-metre traverse was conducted where samples of the vein were attainable below the base of outcrop. Stoney Vein sample G994111 assayed 6.1 g/t gold, 124 ppm silver, 2.4% copper and 340 ppm antimony. Gold distribution was a bit variable with five samples greater than 1 g/t, however, most samples had additional silver, copper and antimony components. Sample G994111 had the best cumulative grades with 6.1 g/t gold, 124 ppm silver, 2.4% copper and 340 ppm antimony. Netflix Inc (NASDAQ:NFLX, ETR:NFC) has free rein to grow revenue after unveiling a boom in subscriber numbers over the last quarter, Wedbush analysts have said. A record 18.9 million subscribers were added during the fourth quarter, Netflix said on Tuesday, taking its year-end total to 302 million. Having trounced expectations, this left the streaming service able to avoid updating investors on subscriber numbers “for a while” and instead focus “solely” on revenue. Wedbush pointed to substantial price increases, which were also unveiled on Tuesday, alongside extra ad-tier features and expanded advertising. Though this could prompt some subscribers to trade down to cheaper plans, analysts added US$18 billion in planned new content meant “meaningful upside” to guidance in 2025. “The bottom line is that if the price increases drive more trade downs than churn, the result will be sooner ad-tier parity and even higher profitability,” analysts said. An ‘outperform’ rating was reiterated as a result, while Wedbush hiked Netflix’s share price target from US$950 to US$1,150. “While massive subscriber growth was the primary driver in 2024, we expect price increases to drive revenue growth in 2025 and the ad tier to drive revenue higher in 2026. “As Netflix expands from here, its contribution margin can massively exceed our estimates, driving outsized free cash flow.” Both UBS and Oppenheimer also upped Netflix’s share price target to US$1,150 respectively on the back of the update. “We believe Netflix’s dominance will continue, given its clear advantage in producing high-engagement content and monetizing that content more effectively than peers,” Oppenheimer said. UBS added growth was set to be further fueled over the coming year by new content from the likes of its ‘Stranger Things’ and ‘Squid Game’ franchises, alongside advertising, gaming and live content. Revenue was seen climbing by 13% over the course of 2025 as a result. Shares jumped 10.2% to US$958.14 on Wednesday.
Nova Minerals extends Muddy Creek gold anomaly 400 metres with up to 128.5 g/t gold; shares up
Nova Minerals Ltd (ASX:NVA, NASDAQ:NVA) has opened higher on the ASX on welcoming additional high-grade gold surface sample assay results — of up to 128.5 g/t gold — from Muddy Creek prospect at the Estelle Gold and Critical Minerals Project in the Tintina Gold Belt in Alaska. Results include six rock samples grading greater than 10 g/t gold and eight soil samples grading greater than 2 g/t gold — confirming a 400-metre extension to the high-grade gold zone at Muddy Creek. “Our 2024 field crews added considerable size to the high-grade gold zone identified at Muddy Creek,” Nova head of exploration Hans Hoffman said. “With the continued discovery of these high-grade gold-bearing quartz-arsenopyrite veins over an 800-metre strike length, Muddy Creek has elevated itself as a viable drill target, and certainly one of the best geochemical anomalies on the claim block.” Investors have reacted positively to the results with NVA shares trading 11.36% higher in opening ASX trade to A$0.245. Nova’s 2024 surface reconnaissance program consisted of 14 rock samples, with a high of 128.5 g/t gold, and 11 soil samples, with a high of 6.3 g/t gold. Nova explains that the results, as summarised below, continue to show Muddy Creek to be one of the most impressive gold anomalies on the claim block with these results extending the high-grade zone by approximately 400 meters. The best 2024 surface sampling results at Muddy Creek include: Four rock samples greater than 20 g/t gold - Five soil samples greater than 3 g/t gold - Previously announced results from Muddy Creek, from 2023, included six samples greater than 50 g/t gold - 127.5 g/t, 90.5 g/t, 76.8 g/t, 75.5 g/t, 65.6 g/t and 51.8 g/t gold. The Muddy Creek high-grade zone now measures 800 metres by 400 metres. This is part of a larger mineralised trend of greater than 4 kilometres that includes the Muddy Creek, Discovery, Shadow, Shoeshine and Train prospects. Muddy Creek gold results. Nova advises that further results are to follow from the 2024 gold, antimony and critical minerals surface sampling program. This includes the Stibium antimony-gold prospect and further regional exploration from the broader RPM and Stoney areas. Estelle property map showing the sampling program undertaken in 2024. Dell Technologies Inc (NASDAQ:DELL) posted strong third-quarter earnings driven by record AI server demand, though revenue fell short of Wall Street expectations, sending shares down 5% in postmarket trading. Revenue for the quarter ended November 1 rose 10% year-over-year to $24.4 billion, missing estimates of $24.7 billion. However, net income climbed 13% to $1.13 billion, and operating income increased 12% to $1.67 billion. Earnings per share (EPS) of $2.15 exceeded forecasts of $2.05. CEO Jeff Clarke highlighted AI growth, stating, “Interest in our portfolio is at an all-time high, driving record AI server orders demand of $3.6 billion in Q3 and a pipeline that grew more than 50%, with growth across all customer types.” Dell’s Infrastructure Solutions Group (ISG) led growth with revenue up 34% to $11.4 billion, including a 58% surge in servers and networking sales. Storage revenue rose 4%. The Client Solutions Group (CSG) saw revenue slip 1% to $12.1 billion, as consumer sales dropped 18%, partially offset by 3% growth in commercial sales. Gross margin fell to 21.8% from 23.1% a year earlier, while operating margin edged up to 6.8%. Dell ended the quarter with $6.6 billion in cash and repurchased $429 million in shares. AI demand remained a highlight, with Dell reporting a record $3.6 billion in orders and over 50% pipeline growth. Despite the earnings beat, investor concerns over the revenue miss and weak consumer demand weighed on shares, which are up 86% year-to-date.
