Nova Minerals heads to New York for dual listing 

Alaska-focused gold explorer Nova Minerals (ASX:NVA) expects to hit the New York Stock Exchange by the end of June as it advances its planned US listing. 

The company revealed its ambitions to pursue a US listing and public offer in late February, and was initially targeting the NASDAQ. 

In April, Nova filed its registration statement with the US Securities and Exchange Commission for the proposed public offering of American depositary shares.

ThinkEquity is acting as the sole book-running manager for the proposed offering.

Nova says it will maintain its existing listing of ordinary shares on the Australian Securities Exchange (ASX).

The company decided to head to a major US exchange because its Estelle Gold Project is located there and it received multiple enquiries from potential US investors and institutions who found it difficult to purchase shares on the ASX.

Nova says a US listing could also assist it with accessing potential US state and federal grants and funding options which might be available to help progress its critical mineral discoveries.

The company, which has a market capitalisation of $50.6 million on the ASX, also believes there is potential for increased liquidity and an enhanced valuation on the North American exchanges. 

The Estelle Gold Project contains multiple resource centers across a 35km-long mineralised corridor of over 20 identified gold prospects. It currently hosts a combined JORC-compliant resource of 9.9 million ounces of gold across four deposits.

Nova has also discovered antimony and other critical minerals at several prospects.

Write to Angela East at Mining.com.au 

Images: Nova Minerals 
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Written By Angela East
Managing Editor Angela East is an experienced business journalist and editor with over 15 years spent covering the resources and construction sectors and more recently working as a communications specialist handling media relations for junior resources companies.