Response to Media Article Regarding Pakistani Antimony Concentrate
Rhea-AI Summary
Nova Minerals (NASDAQ: NVA) addressed media speculation about a possible purchase of Pakistani antimony concentrate after a Financial Times article on 29 December 2025 quoted comments attributed to CEO Christopher Gerteisen.
The company says discussions about sourcing antimony concentrate are exploratory and intended for testing plant capability; no binding terms have been agreed. Nova reiterated it will disclose any binding, material arrangement per exchange rules if and when it occurs. Nova's 2026 priorities are completing the Feasibility Study for its gold assets and commencing production of military-grade antimony trisulfide, supported by a US$43.4 million award from the U.S. Department of Defense.
Positive
- Received a US$43.4 million award from the U.S. Department of Defense
- 2026 priority: complete Feasibility Study for Estelle gold project
- Plans to commence production of military-grade antimony trisulfide
Negative
- Discussions on Pakistani antimony are exploratory with no binding deal
- Media speculation could create short-term investor uncertainty
Key Figures
Market Reality Check
Peers on Argus
Peers show mixed moves, with OMEX up 10.1%, LGO up 9.37%, ATLX up 2.1%, while XPL and FURY are down. This contrasts with NVA’s 4.83% gain, indicating a more stock-specific move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 22 | Offering closed | Negative | +6.0% | Closing of underwritten ADS offering raising about $20M before fees. |
| Dec 18 | Offering priced | Negative | -17.7% | Pricing of $20M ADS offering with over-allotment option for underwriters. |
| Dec 08 | Investor webinars | Positive | -12.1% | CEO investor presentations highlighting Estelle project and $43.4M U.S. award. |
| Oct 28 | Equipment procurement | Positive | +0.4% | Start of key mining and processing equipment procurement for antimony production. |
| Oct 27 | Quarterly update | Positive | -4.8% | Quarterly report detailing $43.4M award and strong funding access for Estelle. |
Recent news has produced mixed reactions, with several positive operational and funding updates met by negative or muted price moves, and one dilutive offering closing followed by a gain.
Over the last few months, Nova reported multiple funding and development milestones, including a public ADS offering around December 18–22, 2025 and progress on antimony production equipment in late October 2025. A significant US$43.4M U.S. award has featured repeatedly in updates. Today’s clarification about exploratory Pakistani antimony sourcing fits within this broader narrative of advancing the Estelle project and antimony strategy while managing market expectations.
Market Pulse Summary
This announcement clarifies that discussions about sourcing Pakistani antimony concentrate are exploratory and intended mainly for testing plant capability, not a binding supply commitment. The company reiterates its focus on completing the gold assets Feasibility Study in 2026 and advancing military-grade antimony trisulfide production, backed by the US$43.4 million U.S. Department of Defense award. Investors may watch for any future binding offtake terms and progress updates on Estelle development.
Key Terms
antimony concentrate technical
antimony trisulfide technical
AI-generated analysis. Not financial advice.
Melbourne, Australia, Jan. 05, 2026 (GLOBE NEWSWIRE) -- Nova Minerals Limited (“Nova” or the “Company”) (NASDAQ: NVA) (ASX: NVA) (FRA: QM3) ) a gold and critical minerals exploration stage company focused on advancing the Estelle Gold and Critical Minerals Project in Alaska, U.S.A., has become aware of media articles speculating on the Company’s arrangements regarding the potential acquisition of antimony in Pakistan. An article in the Financial Times on 29 December 2025 ("The wildcat traders and US contractors piling into Pakistan’s antimony"), includes comments attributed to the Company's CEO, Mr Christopher Gerteisen, regarding a potential purchase of over 100 tons of Pakistani antimony.
The Company wishes to clarify that, while preliminary discussions have been held in relation to sourcing antimony concentrate for testing purposes principally to assess plant capability, all discussions remain exploratory in nature.
The Company will, in accordance with the exchange listing rules, disclose the terms of any arrangement which becomes binding and material when, and if, it occurs.
Nova’s focus in 2026 continues to be completing the Feasibility Study for its gold assets and commencing production of military-grade antimony trisulfide, supported by the recent US
About Nova Minerals Limited
Nova Minerals Limited is a Gold, Antimony and Critical Minerals exploration and development company focused on advancing the Estelle Project, comprised of 514 km2 of State of Alaska mining claims, which contains multiple mining complexes across a 35 km long mineralized corridor of over 20 advanced Gold and Antimony prospects, including two already defined multi-million ounce resources, and several drill ready Antimony prospects with massive outcropping stibnite vein systems observed at surface. The
Further discussion and analysis of the Estelle Project is available through the interactive Vrify 3D animations, presentations, and videos, all available on the Company’s website. www.novaminerals.com.au
Forward Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” "will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Nova Minerals Limited’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Nova Minerals Limited undertakes no duty to update such information except as required under applicable law.
For Additional Information Please Contact
Investor Relations:
Dave Gentry, CEO
RedChip Companies, Inc.
Phone: 1-407-644-4256
Email: XTIA@redchip.com
Nova Minerals:
Craig Bentley
Director of Finance & Compliance & Investor Relations
E: craig@novaminerals.com.au
M: +61 414 714 196
FAQ
What did Nova Minerals (NVA) say about the 100-ton Pakistani antimony report dated 29 December 2025?
Will Nova Minerals (NVA) disclose terms if it signs an antimony supply deal?
How does the US$43.4 million U.S. Department of Defense award affect Nova Minerals (NVA)?
What are Nova Minerals’ (NVA) main 2026 priorities related to Estelle and antimony?
Does Nova have confirmed commercial terms for sourcing antimony concentrate as of January 5, 2026?
