Highlights

  • Alaska's Department of Natural Resources approved the Plan of Operations and Reclamation Plan, completing permitting for the antimony project.
  • The company secured all required permits within approximately three months of submission and targets antimony production in 2027.
  • Phase 1 is fully funded by an existing US$43.4 million award from the US Department of War.
  • Engineering and metallurgical test work are complete, and all major long-lead mining and processing equipment has been delivered to sites.

Three months from submission to final sign-off. Nova Minerals Corp (ASX:NVA), listed on both the ASX and NYSE American, announced on 28 October 2026 that the Alaska Department of Natural Resources has approved its Plan of Operations and Reclamation Plan. The company said the approvals complete permitting for its Alaska antimony project and clear the way for Phase 1 construction and development, with antimony production targeted for 2027.

What the approvals allow

The approvals authorise construction and operating activities over an initial three-year term. Chief executive Christopher Gerteisen is quoted in the release, which was authorised by the company's executive directors.

From mine to refined product

Nova describes an integrated three-stage route. First comes mining of stibnite, the main antimony ore mineral, at the Styx and Stibium prospects. Second is ore sorting and processing at the Whiskey Bravo concentration site within the Estelle Project. Third is downstream processing and refining at Port Mackenzie, Alaska.

The flowsheet is designed to produce military-grade antimony trisulfide and standard grade II antimony metal, with a stated purity above 99.65 per cent antimony. Process plant engineering and metallurgical test work are complete, and the company said all major long-lead and critical equipment has been procured and delivered to project sites.

Funding in place

Phase 1 is fully funded through Nova's existing US$43.4 million award from the US Department of War, which supports domestic production of military-grade antimony trisulfide.

The announcement does not give a capital cost estimate, production volumes, a first-production date within 2027 or any revenue forecast. The scale of output and the project economics cannot be assessed from this document alone.

The wider Estelle Project

The antimony work sits within the Estelle Project, which Nova describes as hosting two defined multi-million-ounce gold resources and more than 20 prospects along a 35-kilometre mineralised trend in the Tintina Gold Belt. The company says that belt has a documented endowment of more than 220 million ounces of gold. These are background statements, and the announcement does not update any resource estimate.

Next steps and risks

Nova said permitting, funding, engineering and equipment delivery are now complete. The next step is to advance construction and execute its development schedule. The 2027 target remains a company forecast, and no interim construction milestones are given.

The risks the release lists include regulatory and permitting delays, financing and liquidity, power and water supply, capital and labour costs, gold prices, currency fluctuations, environmental factors, dependence on key personnel, dilution and litigation. Construction progress, commissioning and the first delivery of antimony trisulfide are all still ahead, with no confirmed dates beyond the general 2027 target.