Nova Minerals (NYSE American: NVA) corrects $2.1B market cap error after U.S. redomicile
Rhea-AI Filing Summary
Nova Minerals Corp filed an 8-K to share a press release clarifying its market capitalization after redomiciling to the United States. Some investment websites had shown an incorrect value of about US$2.1 billion. Based on its current trading price and the shares issued in the redomiciliation, Nova states its market capitalization is about US$166 million. The company explains that as of June 16, 2026, Nova Minerals Limited had 458,140,036 ordinary shares outstanding, which were exchanged at a 1-for-12 ratio into 38,181,050 common shares of Nova Minerals Corp, with a small number of extra shares from rounding. The release also highlights Nova’s Estelle Gold and Critical Minerals Project in Alaska and notes a US$43.4 million U.S. Department of War award supporting development of a domestic antimony supply chain targeted for production in late 2026/2027.
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Insights
Nova corrects overstated market cap and reiterates project funding.
Nova Minerals Corp is addressing confusion created by third-party websites that showed a roughly US$2.1 billion market capitalization after its U.S. redomiciliation. Using the 1-for-12 share exchange and current trading price, the company estimates a much lower value of about US$166 million.
The clarification ties directly to specific share mechanics: 458,140,036 ordinary shares of Nova Minerals Limited became 38,181,050 Nova common shares, plus minor rounding. This helps investors reconcile capital structure data between pre- and post-redomiciliation entities using figures disclosed in the earlier Redom 8-K.
The release also notes a US$43.4 million U.S. Department of War award backing development of a domestic antimony supply chain, with production targeted for late 2026/2027. Subsequent company filings may further detail how this funding and the Estelle project schedule translate into future financial results.
8-K Event Classification
Key Figures
Key Terms
redomiciliation regulatory
market capitalization financial
exchange ratio financial
forward-looking statements regulatory
critical mineral antimony technical
Estelle Gold and Critical Minerals Project technical
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 8.01 Other Events
On June 30, 2026, Nova Minerals Corp issued a press release titled “Clarification Regarding Market Capitalization Following U.S. Redomiciliation”, which is attached as Exhibit 99.1 hereto.
The information in this Item 8.01, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Item 8.01 shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, except as otherwise expressly stated in such filing.
Item 9.01. Financial Statements and Exhibits.
| (d) | Exhibits |
| Exhibit No. | Description | |
| 99.1 | Press release, dated June 30, 2026 | |
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the iXBRL document) |
| 2 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Nova Minerals Corp | ||
| Date: June 30, 2026 | /s/ Ian Pamensky | |
| Name: | Ian Pamensky | |
| Title: | Secretary | |
| 3 |
Exhibit 99.1
Clarification Regarding Market Capitalization Following U.S. Redomiciliation
Anchorage, Alaska, June 30, 2026 - Nova Minerals Corp (“Nova Minerals” or the “Company”) has become aware that certain publicly available investment websites have incorrectly reported the Company’s market capitalization as approximately US$2.1 billion following the completion of its redomiciliation to the United States, as disclosed in the Company’s Current Report on Form 8-K filed on June 16, 2026 (the “Redom 8-K”).
The Company advises that these reported market capitalization figures are inaccurate. Following the redomiciliation, the Company’s issued and outstanding common stock consisted solely of the shares of common stock issued in exchange for the outstanding ordinary shares of Nova Minerals Limited as of June 16, 2026, in accordance with the 1-for-12 exchange ratio disclosed in the Redom 8-K.
As of June 16, 2026, Nova Minerals Limited had 458,140,036 ordinary shares outstanding. Applying the 1-for-12 exchange ratio described in the Redom 8-K, the Company issued an aggregate of 38,181,050 shares of common stock, including a limited number of additional shares issued as a result of rounding in accordance with the terms of the exchange. Based on the Company’s current trading price, its market capitalization is approximately US$166 million.
The Company is not responsible for market capitalization figures published by third-party websites and encourages investors to refer to the Company’s filings with the U.S. Securities and Exchange Commission when evaluating the Company’s capital structure and other publicly disclosed information.
About Nova Minerals Corp
Nova Minerals Corp is advancing one of the world’s largest undeveloped gold deposits into production and securing a US domestic supply of the critical mineral antimony. The Company is focused on the exploration and development of the Estelle Gold and Critical Minerals Project, located in Alaska, a tier-one mining jurisdiction.
Estelle hosts two defined multi-million-ounce gold resources, and more than 20 prospects distributed along a 35-kilometre mineralized trend, in the prolific Tintina Gold Belt, a province which hosts a >220 million ounce (Moz) documented gold endowment and some of the world’s largest gold mines and discoveries including, Kinross Gold Corporation’s Fort Knox Gold Mine. In parallel, Nova is advancing its critical minerals strategy, fully-funded by a US$43.4 million U.S. Department of War award to develop a domestic antimony supply chain, targeted for production in late 2026/2027.
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.novamineralscorp.com.
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act, and Section 21E of the Exchange Act which are subject to the “safe harbor” created by those sections. All statements, other than statements of historical fact, contained in this press release are forward-looking statements and that are subject to substantial risks and uncertainties. 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 Corp’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. Forward-looking statements contained in this announcement are made as of this date, and Nova Minerals Corp undertakes no duty to update such information except as required under applicable law.
Investor Relations:
Dave Gentry, CEO
RedChip Companies, Inc.
Phone: 1-407-644-4256
Email: NVA@redchip.com
Nova Minerals:
Craig Bentley
Director
E: craig@novamineralscorp.com
M: +61 414 714 196