Australian gold exploration company Nova Minerals plans to issue 900,000 American Depositary Receipts at a price of $8 to $10 each to raise $8 million.
The Zhitong Finance App learned that Australian gold exploration company Nova Minerals announced initial public offering (IPO) terms in the US on Tuesday. The company plans to issue 900,000 American Depositary Receipts at a price of $8 to $10 per share to raise $8 million. The company plans to be listed on the New York Stock Exchange under the ticker symbol “NVA.”
According to reports, Nova Minerals owns a majority stake in the Estelle Gold Project, which includes more than 125,000 acres of land along the Tintina Gold Belt in northwestern Anchorage, Alaska. The project includes multiple mining complexes spanning more than 20 identified gold mining prospects, including two proven multi-million ounce resources distributed across four deposits, with a total gold reserve of 5.17 million ounces. Recently, the company also discovered antimony and other key minerals consistent with gold in surface sampling at multiple prospective sites throughout the project.