Nova Minerals (ASX:NVA) has advanced to a mature phase of its progress towards a potential dual US listing on the Nasdaq exchange, which is scheduled for completion in the June quarter.
The $56.94 million market capitalisation company says a lead underwriter has been appointed with financial and a public company accounting oversight board (PCAOB) audit completed.
A registration statement form F-1 has also been prepared and initial confidential submissions have been made with the US Securities and Exchange Commission (SEC).
Nova proposes to undertake the US initial public offering (IPO) and list American Depositary shares on Nasdaq, in which it envisages a range of benefits from having a US-listed presence.
Key benefits include the facilitation of purchases from potential US investors and institutions looking to invest in the company’s Estelle Gold Project in Alaska, accessing potential US state and federal grants and funding options, as well as increased liquidity and enhanced valuations.
Nova Minerals CEO Christopher Gerteisen says: “We are pleased with the momentum of the US listing process which has been a long, hard road, and I give credit to the amazing team that we have established to get it to this stage and we look forward to updating shareholders in due course.”
Nova Minerals is focused on developing its Estelle Project in Alaska to a tier one global gold producer.
The project comprises 513km-square of unpatented mining claims within the Estelle Gold Trend, which in turn sits in the Tintina Gold Belt, host to more than 220 million ounces of gold in predominantly bulk tonnage, high-margin gold deposits.
Write to Adam Drought at Mining.com.au
Images: Nova Minerals
