Pre-market surged! Nova Minerals received a $43.4 million grant from the U.S. government to ensure the security of the antimony supply chain
On Wednesday before the US stock market opened, Nova Minerals' stock price surged over 32%. This came after the company announced that its US subsidiary, Alaska Range Resources, received $43.4 million in funding from the US Department of Defense to produce antimony trisulfide at the Estelle Gold Mine and critical mineral projects in Alaska. The company stated that this funding will help accelerate the establishment of a complete domestic antimony supply chain in the United States, achieving the full process of mining, beneficiation, and refining of stibnite, and subsequently producing military-grade antimony trisulfide to meet the raw material needs of the US defense industrial base. Nova Minerals CEO Christopher Gerteisen stated, "This funding will support the initial phase of the company's strategy. We plan to establish a modern antimony mining and refining center based in Alaska that covers the entire industry chain to supply refined antimony products to the US industrial base and broader market."
According to the Zhitong Finance APP, on Wednesday before the US stock market opened, Nova Minerals (NVA.US) saw its stock price rise by more than 32%. This came after the company announced that its US subsidiary, Alaska Range Resources, received $43.4 million in funding from the US Department of Defense to produce antimony trisulfide at the Estelle Gold Mine and critical mineral projects in Alaska.
The company stated that this funding will help accelerate the establishment of a complete domestic antimony supply chain in the United States, achieving the full process of mining, beneficiation, and refining of stibnite, and subsequently producing military-grade antimony trisulfide to meet the raw material needs of the US defense industrial base.
Christopher Gerteisen, CEO of Nova Minerals, stated: "This funding will support the initial phase of the company's strategy. We plan to establish a modern antimony mining and refining center based in Alaska that covers the entire industry chain to supply refined antimony products for the US industrial base and broader markets."
