Nova Minerals Limited (Nova or the Company) (ASX: NVA, NASDAQ: NVA, NVAWW OTC: NVAAF, FSE: QM3) is pleased to announce the closing of its underwritten US NASDAQ public offering today of 475,000 units, with each unit consisting of one American Depositary Share representing ordinary shares (“ADS”) and one warrant, with an ADS-to-ordinary-share ratio of 1 to 60, at a price to the public of US$6.92 per unit, for gross proceeds of approximately US$3.3m (AUD$4.9m) before deducting underwriting discounts and offering expenses.
Each whole warrant is exercisable for one ADS at an exercise price of US$7.266 per ADS, and will be immediately exercisable upon issuance for a period of five years following the date of issuance. In addition, Nova has granted the underwriters an option to purchase up to an additional 47,500 ADSs and/or an additional 47,500 warrants to cover over-allotments, if any until August 29, 2024.
The offering also included the purchase by the underwriters of 47,500 warrants in connection with the partial exercise by the underwriters of their over-allotment option.
The Company has issued a total of 28,500,000 ordinary fully paid shares to the depositary agent which will underlie the ADS.
The ADSs and warrants began trading on the Nasdaq Capital Market on July 24, 2024 under the symbols “NVA” and “NVAWW”, respectively.
Nova will also issue options (warrants) to the underwriters of the offer, as approved by shareholders at the general meeting held on 31 May 2024.
The Company intends to use the proceeds for resource and exploration field programs, feasibility studies, and general working capital.ThinkEquity is acting as sole book-running manager for the offering.
A registration statement on Form F-1 (File No. 333-278695) relating to the public offering was filed with the Securities and Exchange Commission (“SEC”) and became effective on July 23, 2024. This offering is being made only by means of a prospectus. Copies of the final prospectus may be obtained from ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Nova CEO, Mr Christopher Gerteisen commented: “This marks a major milestone for the company and highlights the quality of our team who made it happen through countless hours of dedication and hard work. A US listing has been our goal for a long time as the logical next step with our flagship Estelle Gold Project being a North American asset and an increasing US investor base. Now it’s a reality, and we believe this can be a catalyst to create further shareholder value through increased exposure and liquidity available in the US market. The company is preparing a targeted drill program to commence shortly and continues with the critical technical studies required for the completion of a robust PFS as we progress along the path to production.”
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This article includes content from Nova Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
The gold price continued moving higher this week, reaching yet another record.
After trading as low as US$3,006 per ounce on Monday (March 24), the yellow metal took off midway through the week, closing at US$3,085 on Friday (March 28).
So what factors are moving gold right now?
Many experts agree that the precious metal is benefiting from long-term underlying drivers — like central bank buying — as well as recent turmoil surrounding tariffs, the US economy and global conflicts.
Tariffs were definitely in focus this week, with US President Donald Trump signing an executive order to impose 25 percent tariffs on all automobile imports starting on April 3.
Trump's reciprocal tariffs are also set to go into effect on that day.
Anything can happen, but at this point it seems fairly certain that gold itself is unlikely to face tariffs. Here's how Dana Samuelson of American Gold Exchange explained it:
"My opinion is that it doesn't make sense to tariff gold because it is a tier-one asset — it's equivalent to a Treasury. So they're not going to tariff Treasuries, right?
"The commodity uses for gold are about 5 percent compared to 95 percent being a monetary metal. So I don't think it makes sense to tariff gold."
He added that silver, which has strong industrial applications, could face tariffs.
Copper is another story entirely — Trump previously ordered the Department of Commerce to investigate copper tariffs, and while it was supposed to provide a report within 270 days, sources now indicate it could come sooner. People familiar with the matter told Bloomberg that the investigation "is looking like little more than a formality," and the news has bolstered prices for the red metal.
Copper futures on the Comex in New York rose to an all-time high this week, although London copper prices declined, creating a larger spread between the two.
Going back to gold, the precious metal is also digesting last week's US Federal Reserve meeting, which saw the central bank leave rates unchanged. While officials are still calling for only two cuts this year, Danielle DiMartino Booth of QI Research thinks the Fed could cut as many as four to five times in 2025.
Here's what she said:
"I do see the pace of layoffs and bankruptcies in the US economy as probably (putting) the Fed in a tight position going into May. We've got two nonfarm payroll reports before they meet on May 7, and I think that because the unemployment rate is just a rounding error shy of being at 4.2 percent, that there is a risk — a very tangible risk given, again, all of the layoffs, store closures that we've seen in 2025 — in economic fallout, not just in the public sector, but more so in the private sector.
"The Fed (could) be at its 4.4 percent year-end unemployment rate target a lot sooner than it foresees, such that the president could be right here — we could be seeing quite a few more than two interest rate cuts this year. I foresee maybe four or five."
Friday brought the release of the latest US personal consumption expenditures (PCE) price index data, and it shows that core PCE was up 0.4 percent month-on-month in February, the largest gain since January 2024. On a yearly basis, core PCE was up 2.8 percent.
Both numbers are higher than analysts' estimates of 0.3 and 2.7 percent, respectively.
PCE is the Fed's preferred gauge for inflation, and is expected to impact its next rate decision.
Elsewhere in the precious metals space, silver is spending time in the spotlight as social media users plan a "silver squeeze 2.0" for this coming Monday (March 31).
Many market participants will be familiar with the 2021 silver squeeze, when members of Reddit's WallStreetBets forum tried to squeeze the market like they did for GameStop (NYSE:GME).
The movement got a lot of attention and resulted in some price movement before petering out.
This time around, the push seems to have originated on X, formerly Twitter, where it's quickly gained traction among key players in the silver community.
Days ahead of the official squeeze, the white metal's price is on the move. It rose to the US$34.50 per ounce level on Thursday (March 27), although it had pulled back to around US$34.10 by Friday's close.
The activity has sparked optimism about what will unfold next week — while silver is known to be frustrating, it can also move quickly when it does break out.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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Yukon Metals (CSE: YMC) (OTCQB: YMMCF Advancing high-grade gold, silver and copper exploration in the Yukon, Yukon Metals is building on a rich history of prospecting expertise to unlock significant high-grade mineral potential.. With excellent infrastructure access and a commitment to aggressive drilling, the company is focused on advancing its portfolio in one of Canada's most prospective mining jurisdictions.
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Danielle DiMartino Booth, CEO and chief strategist at QI Research, shares her US economic outlook, saying layoffs and bankruptcies are putting the Federal Reserve in a "tight position."
She sees the central bank potentially cutting rates four to five times in 2025.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Gold has seen rapid price gains in 2025 — is its move past US$3,000 per ounce sustainable?
Joe Cavatoni, senior market strategist, Americas, at the World Gold Council, said although the metal's ascent has been quick, it's underpinned by strong fundamentals.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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