Nova Minerals wins $43.4M U.S. government award to secure antimony supply

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Nova Minerals (NASDAQ:NVA [https://seekingalpha.com/symbol/NVA]) +29.2% pre-market Wednesday after saying its U.S. subsidiary Alaska Range Resources was awarded [https://seekingalpha.com/filing/10474031] $43.4 million in funding by the U.S. Department of War to produce antimony trisulfide at its Estelle gold and critical minerals project in Alaska.

The company said the award will enable it to accelerate development of a fully integrated U.S. antimony supply chain to extract, concentrate, and refine stibnite to produce military grade antimony trisulfide to assist in meeting the U.S. defense industrial base demands.

"This award will fund the initial phase of the company's strategy to establish a full spectrum state of the art antimony mining and refining hub based in Alaska to supply refined antimony products to the U.S. industrial base and beyond," Nova Minerals (NASDAQ:NVA [https://seekingalpha.com/symbol/NVA]) CEO Christopher Gerteisen said.

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