Nova Minerals Corp. filed its quarterly report on Form 10-Q with the SEC on November 13, 2026, covering the three months ended September 30, 2026, disclosing a net loss of $12,046,928 and cash of $17,762,388 at quarter end.

Key Highlights

  • Net loss of $12,046,928 for the three months ended September 30, 2026, compared with a net loss of $6,427,958 for the same period in 2025, according to the filing.
  • Loss per share of $0.32 (basic and diluted) on weighted-average shares outstanding of 38,188,433, versus $0.20 per share in the prior-year quarter.
  • Exploration and evaluation expense of $11,675,076 for the quarter, up from $6,283,984 in the three months ended September 30, 2025.
  • Cash and cash equivalents decreased to $17,762,388 at September 30, 2026, from $26,783,760 at June 30, 2026.
  • Plant and equipment grew to $9,747,848 from $5,046,786 at June 30, 2026, reflecting $3,842,784 in additions during the quarter.
  • 38,194,368 shares outstanding as of November 12, 2026, with common stock authorized at 500,000,000 shares at $0.001 par value.
  • Income tax benefit of $1,003,085 recognized in the quarter, with deferred tax liability reduced to zero from $1,003,085 at June 30, 2026.

Nova Minerals Quarterly Results: Exploration Spending Drives Wider Loss

Nova Minerals Corp. (NYSE American:NVA), listed on NYSE American LLC, reported a net loss of $12,046,928 for the three months ended September 30, 2026, according to its Form 10-Q filed November 13, 2026. The company described itself as "a gold, antimony, and critical minerals exploration and development company focused on advancing its flagship Estelle Project in Alaska," and noted it is backed by a "$43.4 million award from the U.S. Department of War." The loss from operations widened to $12,852,435 from $7,360,205 in the comparable prior-year period, driven primarily by higher exploration and evaluation costs.

The filing reported exploration and evaluation expense of $11,675,076 for the quarter, nearly double the $6,283,984 recorded in the three months ended September 30, 2025. General and administrative expenses rose to $1,283,209 from $1,002,425. Government grant income of $514,041 was recognized in the current quarter, with no comparable amount in the prior-year quarter. Non-operating items included an unrealized loss on equity investment securities of $304,233, partially offset by net interest income of $116,430.

Total assets stood at $34,884,262 at September 30, 2026, down from $46,173,384 at June 30, 2026. The accumulated deficit increased to $149,033,061 from $136,986,133 at June 30, 2026, and total shareholders' equity declined to $11,516,056 from $23,562,984 over the same period. Net cash used in operating activities was $4,939,578, and net cash used in investing activities was $3,842,784, the latter consisting entirely of additions to plant and equipment. The company issued 13,318 shares during the quarter upon conversion of options and warrants, generating no net proceeds.

What Was Disclosed

Nova Minerals Corp. disclosed its unaudited condensed consolidated financial statements for the three months ended September 30, 2026, reporting a $12,046,928 net loss, reduced cash of $17,762,388, and significantly higher exploration spending compared with the prior-year quarter.