Companies / NVA

NOVA MINERALS CORP

ASX:NVAMaterials
458.3M shares on issueASX (delayed) · snapshot 11 Sept 2026460.1M fully diluted+0.4% if every option and right converts$0.72price · delayed$330.0Mmarket cap · indicative

Today’s holders own 99.6% of what they think they own, once every option and right converts.

High
Dilution risk

Share count grew 88% in 24 months; runway 2–4 quarters; 3 cash raises in 24 months

MinimalVery high
Absolute levels — not a ranking against other companies.
Cash runway2.6 quarters of funding
Share-count growth (24m)88.1%
Raise cadence (24m)3 cash raises
Options & rights overhang0.4% of shares
In-the-money supplyno data — an exercise price is on record for a minority of the supply
Pending proposed issuesopen proposed issue (Appendix 3B)

NOVA MINERALS CORP's ordinary share count grew 88.1% between July 2024 and June 2026, reaching 458M shares. In the past 24 months, the company raised capital three times totalling A$55.7M, with the latest being a A$33.7M underwritten public offering (NASDAQ offering) in December 2025. Options and rights on issue could convert into 2M new shares, representing 0.4% of the current share count, with the nearest expiry in July 2028. As of the March 2026 quarter, the company reported A$27.5M in available cash, sufficient for approximately 2.6 quarters. A single proposed securities issue (Appendix 3B) is pending, with an expected issue date in November 2026.

AI-generated summary of this page's cited filings · updated 11 Sept 2026
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0.4%
Options & rights overhang
—
In-the-money supply · most strikes not on record
1
Raises · last 12 months
2.6 qtrs
Cash cover · 2–4 quarters

Shares on issue — last 2 years

Ordinary shares on issue
Weekly counts from ASX records. Dots mark cash capital raises. Latest count 458.3M per ASX (delayed) (snapshot 11 Sept 2026).
300M350M400M450MDec 24Oct 25Sept 26Cash raise · 19 Dec 2025Cash raise · 7 July 2025458.3M

Cash runway

2.6 qtrs
Two to four quarters of funding at the recent spend rate.
Funds operations to about Nov 2026 at the reported spend rate.
$27.4M cash after burn from the quarter ended 31 Mar 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds. Filed with the quarterly report: $47.0M cash at quarter end (item 4.6), 5.7 qtrs of funding on the company’s own estimate. Our figure above carries the filed quarter-end balance forward at the reported spend rate and adds announced raise proceeds.
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10 quarters on record — Cash runway history
Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 31 Mar 2026.
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Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

DateFormSecurityOn issue, per this filingSource
11 Aug 20263G · unquotedCHESS DEPOSITARY INTERESTS220.8MAppendix 3G
16 June 20263H · cancellationNVADC : CDI 12:1 DEFERRED SETTLEMENT456.1MAppendix 3H
2 June 20262A · quoted issueNVA : ORDINARY FULLY PAID458.1MAppendix 2A
14 May 20262A · quoted issueNVA : ORDINARY FULLY PAID458.1MAppendix 2A
12 May 20262A · quoted issueNVA : ORDINARY FULLY PAID457.8MAppendix 2A

Each filing states the count for the security it names, as at its own reference date and in the units of that filing — so the newest row (220.8M) need not equal the current count above (458.3M).

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72 filings on record — Full issuance history
Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).
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Capital raises

3 cash raises in the last 24 months · 1 in the last 12 months

every 7.5 monthsaverage gap between raises
8.8 monthssince the most recent
19 Sept 2024 – 19 Dec 2025first to most recent in this window
$33.7M
Underwritten public offering (NASDAQ offering)
19 Dec 2025 COMPLETE
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10 raises on record — Full raise history
Issue price, shares issued, brokers and stated purpose for every raise on record.
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Forward supply

Every dated event on record that could add securities to the register — option expiries to their stated dates and proposed issues over the next 18 months, on one timeline.

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5 dated events on record — Forward supply calendar
Option expiries and proposed issues on one forward timeline, with the securities each could add.
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Placement capacity

How much stock a company can place without asking holders. Listing Rule 7.1 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.

About 33% of the 15% placement capacity left — about 67% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). Holder-approved issues and any later ratification are not deducted, so the true headroom can be higher.
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Placement capacity — LR 7.1 / 7.1A
The filings behind the figure: every Appendix 3B in the window with what it says was issued under 7.1 and 7.1A, each row linked to its filing, and how many shares are left.
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Pending proposed issues

1 proposed issue pending — Appendix 3B lodged, securities not yet issued. New shares from these issues are not in the counts above until quoted.
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1 pending issue on record — Pending issue detail
Size, price, fees, broker and placement-capacity usage for each pending issue.
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Options & convertible securities

0.4%
Options & rights overhang · of current shares
—
In-the-money supply · most strikes not on record
1.8M
Potential new shares
July 2028
Nearest expiry
What this supply is, and what converts it
  • Price-triggered1.6M · 0.4% of shares
    Options and warrants — they convert when the share price clears their exercise price.
    At least 1.2M of it states no exercise price — that much cannot be called in or out of the money.
  • Condition-triggered200k · 0.0% of shares
    Performance and incentive rights — they convert when a hurdle is met, not at a price, and can lapse to nothing.

Exercise price on record: 373k priced, 1.4M where the filing never states one. A security with no exercise price is never counted in the money — nothing is paid to convert it, so there is no price for it to be above.

Each figure is the filing’s own count of securities, not a share count — a 2A never states what one security converts into.

What a price move would switch on
906k1.8M$0.72 now0.25× today ($0.18) — 0 of the priced supply in the money, 0.0% of shares on issue0.5× today ($0.36) — 0 of the priced supply in the money, 0.0% of shares on issue0.75× today ($0.54) — 0 of the priced supply in the money, 0.0% of shares on issue1× today ($0.72) — 0 of the priced supply in the money, 0.0% of shares on issue1.25× today ($0.90) — 0 of the priced supply in the money, 0.0% of shares on issue1.5× today ($1.08) — 0 of the priced supply in the money, 0.0% of shares on issue2× today ($1.44) — 0 of the priced supply in the money, 0.0% of shares on issue3× today ($2.16) — 332k of the priced supply in the money, 0.1% of shares on issue5× today ($3.60) — 332k of the priced supply in the money, 0.1% of shares on issue10× today ($7.20) — 332k of the priced supply in the money, 0.1% of shares on issue0.25×0.5×0.75×now1.25×1.5×2×3×5×10×

An exercise price is on record for only 20.6% of this supply, so what is in the money today is not a measurement — the tile above reads “—” for that reason. Of the priced supply, 0 is in the money at $0.72 today. No more priced supply until 3× today’s price, which takes it to 332k (0.1% of shares).

  • Priced supply in the money at the price on the axis — the curve, and the only thing on it. Ten prices, sampled: between two of them the true figure lies between the two.
  • 1.4M (79.4% of the supply above) states no exercise price at all. It cannot be called in or out of the money at any price, which is why it is hatched rather than plotted.
  • 41k more carries an exercise price above ten times today’s — off the right of this axis, and in every total on this page.
CodeSecurityTypeExercise priceExpiryOn issueSource
NVAAABWarrantsPrice-triggered$10.3725 July 20282kFiling
NVAAVWarrantsPrice-triggered$1.4525 July 2029332kFiling
NVAAACWarrantsPrice-triggered$7.5024 Sept 2029710Filing
NVAAADWarrantsPrice-triggered$13.8817 July 203038kFiling
NVAAMPerformance rightsCondition-triggered——200kFiling Meeting
NVAAAAOptionsPrice-triggered——1.2MFiling

“Nil” is a stated nil exercise price: nothing is paid to convert. An em dash means the filing names no exercise price at all. Security is read from the filing’s own class description; an em dash there means the description is not one this table labels. One row is one security class, at the number stated in the most recent quotation application that restated it — linked, and dated, in the last column.

A condition-triggered class has no exercise price and usually no expiry: what it vests on is set by a shareholder resolution, not by the register. Where the company lodged a notice of meeting before the class first appears here, it is linked as “Meeting” — that is where terms of this kind are put to shareholders. It is not confirmation that the document sets this class’s conditions, and no link appears where there is no such filing.

1 class ceased in the last 12 months and is not counted above
The company’s own Appendix 2A restates each of these at zero. They are excluded from the overhang, the in-the-money supply and every figure on this page. Each count is the filing’s own count of securities in the class, not a share count — a 2A never states what one security converts into.
  • NVAAXPrice-triggered17.4M securities → 016 June 2026 Appendix 2A
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6 option lines on record — In-the-money value & price ladder
What each line is worth in the money today, the price ladder to the next tranche that converts, and the filing description behind every code.
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Director dealings

DateDirectorTypeSharesOptionsOtherValueSource
16 July 2026Mr Christopher (Chris) GerteisenBuy on-market63344k67k$363Y notice
15 July 2026Mr Christopher (Chris) GerteisenBuy on-market24k344k67k$14k3Y notice
24 Feb 2026Mr Christopher (Chris) GerteisenBuy on-market1.7M4.1M800k$12k3Y notice
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10 notices on record — Full dealing history
Every change-of-director's-interest notice on record, with direction and consideration.
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Ownership

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Top-20 holders & substantial holder notices
Top-20 register snapshot and substantial-holder movements, each linked to its source notice.
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Latest announcements

8 Sept 2026$PNova Minerals Marches Towards Antimony Production
1 Sept 2026$PWest Susitna Road- Geotech Drilling Underway, US$25M Funding
1 Sept 2026Statement of CDIs on issue - NVA
31 Aug 2026Nova Attends Roundtable with U.S. Department of Energy
27 Aug 2026Nova Achieves Key Milestone on Path to Antimony Production
25 Aug 2026US Congressional Delegation Visits Estelle Project
12 Aug 2026Nova Provides an Update on Its 2026 Field Season Activities
11 Aug 2026Notification regarding unquoted securities - NVA
2 Aug 2026Statement of CDIs on issue - NVA
26 July 2026Nova Minerals Highlights U.S. Defense Alignment
21 July 2026Change of Director's Interest Notice - CG
16 July 2026Change of Director's Interest Notice - CG
13 July 2026$PAntimony Pilot Plant Engineering and Design Completed
2 July 2026Initial Director's Interest Notice - JG
1 July 2026Appointment of Non-Executive Director
1 July 2026Statement of CDIs on issue - NVA
30 June 2026Clarification Regarding Market Capitalization Following U.S.
29 June 2026$PKorbel Float Tests Yield 26.7g/t Au at greater 95% Recovery
29 June 2026Completion of Sale Facility of Chess Depositary Interests
22 June 2026Company and Project Update

Headlines link to the source PDFs on the ASX announcements platform. Data as of 12 Sept 2026.