Nova Minerals rises despite short seller attack

Mining02-20

Estelle project. Credit: Nova Minerals Nova Minerals (ASX, NASDAQ: NVA) surged to a one-week high during US trading despite investment research firm Spruce Point Capital Management disclosing a short ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2613299425?lang=en_US&edition=fundamental","thumbnail":"https://www.mining.com/wp-content/uploads/2026/02/Estelle-Gold-Project-Header.jpg","is_english":true,"pubTime":"2026-02-20 08:26","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2613299425","market":"us","top_or_hot":-1,"title":"Nova Minerals rises despite short seller attack","media":"Mining","content":"<div>\n<p>Estelle project. Credit: Nova Minerals\nNova Minerals (ASX, NASDAQ: NVA) surged to a one-week high during US trading despite investment research firm Spruce Point Capital Management disclosing a short ...</p>\n\n<a href=\"https://www.mining.com/nova-minerals-rises-despite-short-seller-attack/\">Source Link</a>\n\n</div>\n","source":"mining_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nova Minerals rises despite short seller attack</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNova Minerals rises despite short seller attack\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-02-20 08:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mining.com/nova-minerals-rises-despite-short-seller-attack/><strong>Mining</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Estelle project. Credit: Nova Minerals\nNova Minerals (ASX, NASDAQ: NVA) surged to a one-week high during US trading despite investment research firm Spruce Point Capital Management disclosing a short ...</p>\n\n<a href=\"https://www.mining.com/nova-minerals-rises-despite-short-seller-attack/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NVA","symbol_name":"Nova Minerals Ltd.","start_time":0,"source_url":"https://www.mining.com/nova-minerals-rises-despite-short-seller-attack/","article_id":"2613299425","we_media_id":null,"thumbnails":["https://www.mining.com/wp-content/uploads/2026/02/Estelle-Gold-Project-Header.jpg"],"rights":{"source":"mining_highlight","url":"https://www.mining.com/nova-minerals-rises-despite-short-seller-attack/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2613299425","pubTimestamp":1771547160,"columns":[],"sourceInfo":{"source_id":"mining_highlight","name":"MINING.COM"},"weMediaInfo":null,"summary":"In its report, Spruce Point raised concerns over management's credentials and background.","collect":0,"end_time":0,"defaultTopTitle":"mining.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"NVA":"Nova Minerals Ltd.","BK4559":"巴菲特持仓","BK4084":"特种房地产投资信托","FPI":"Farmland Partners Inc","BK4168":"多种金属与采矿","BK4234":"特殊用途房地产信托"},"translate_title":"尽管卖空者攻击，Nova Minerals仍上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NVA":1.5,"FPI":1},"content_text":"Estelle project. Credit: Nova Minerals\nNova Minerals (ASX, NASDAQ: NVA) surged to a one-week high during US trading despite investment research firm Spruce Point Capital Management disclosing a short position on the Australian miner.\nIn its report published on Friday, the firm founded by activist investor Ben Axler cast doubts over the company’s ability to bring its proposed gold-antimony mine in Alaska online in a timely manner. Specifically, it named several challenges that Nova still has to overcome, such as a lack of infrastructure, community pushback and harsh weather conditions.\nSpruce Point also raised concerns over management’s credentials and background, and more crucially, the qualifications of its consulting geologist. The biggest problem is the company’s ‘competent’ and ‘qualified’ person and the attestations made with the SEC, it wrote, alleging that they did not match the information provided by a private investigative group.\nThe company did not respond to MINING.COM’s request for commentary.\nThe Melbourne-based miner is developing the Estelle project located in Alaska’s Tintina mineral belt, which is known to hold over 220 million oz. of bulk-tonnage gold deposits. To date, the company has identified four large, near-surface gold deposits along a 35-km corridor.\nThe 500 km2 property also holds traces of antimony, a critical mineral widely used in defence applications. The company currently has plans to build a mining and processing hub in Alaska to produce military-grade antimony, backed by $43.4 million in funding provided by the Department of War. First output is targeted within two years.\nDownside risk\nIn the short report, Spruce Point said it believes Nova’s current valuation is overstated, and the stock price has a “near-term downside risk” of approximately 45% to 60% ($2.50-$3.50 per ADR share). Under certain scenarios, such as a potential loss of the DoW award, it could further downside upwards of 100%.\nHowever, Nova Minerals’ US-listed shares gained more than 6% to trade at $6.78 each, with a market capitalization of $255.3 million. In Australia, its stock closed 3.2% lower at A$0.75 apiece.\nEarlier this month, the company announced plans to redomicile to the US, as it is set to lose its foreign private issuer (FPI) status after American equity ownership has now exceeded 50%. In addition, it intends to acquire the remaining 15% stake in the Estelle project currently held by related parties.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2613299425","isCrawlerRequest":true}