Nova Minerals Corp (NYSE American: NVA) filed a Form 8-K on November 13, 2026, reporting on its financial and operational status for the quarter ended September 30, 2026. The company highlighted continued advancement of its Estelle Gold and Critical Minerals Project in Alaska, with a specific focus on securing permits for a domestic antimony supply chain.
The company reported that approximately 500 tons of processing and refining equipment had been delivered to Port MacKenzie by the end of the quarter, with early earthworks underway. Regarding funding, Nova noted that it had received approximately $23.9 million of a $43.4 million award from the U.S. Department of War (DOW). An additional milestone was achieved and $5.0 million was invoiced subsequent to the quarter-end, with the remaining funding expected by the end of fiscal year 2027.
On October 27, 2026, Nova received all final approvals from the Alaska Department of Natural Resources for an integrated antimony three-year pilot-scale development. This approval covers ore extraction at the Styx and Stibium prospects, ore sorting and processing at Whiskey Bravo, and downstream processing and refining at Port MacKenzie.
Exploration activities included the completion of approximately 8,000 metres of drilling during the 2026 field season, bench-scale flotation testing to assess gold recoveries, and the collection of approximately 100 tons of antimony-bearing material from the Styx and Stibium prospects for pilot-scale processing.
Financially, the company held cash and cash equivalents of approximately $17.8 million at September 30, 2026. During the quarter, cash expenditures totaled approximately $9.0 million, primarily for the 2026 field program, mining studies, and equipment payments. The company reported a net loss of approximately $12.0 million for the quarter, compared to a net loss of approximately $6.4 million in the prior-year period.
The filing also disclosed that the company’s audited consolidated financial statements included in the Form 10-K contained a report from the independent registered public accounting firm with an explanatory paragraph expressing substantial doubt about the company’s ability to continue as a going concern.
