The outshining stock in question is Nova Minerals Ltd (ASX: NVA).

Nova Minerals shares closed yesterday trading for 67.5 cents. In late morning trade on Thursday, shares are changing hands for 69 cents apiece, up 2.2%.

This sees the Nova Minerals share price up an impressive 115.6% since this time last year, smashing the 3% 12-month gains delivered by the benchmark index.

Here's what's catching investor interest today.

ASX All Ords gold stock jumps on big drilling plans

Nova Minerals shares are jumping today after the miner announced its extensive 2026 field season exploration plans.

The diversified ASX All Ords gold stock is preparing to kick off a drilling program of up to 10,000 metres, planning to deploy up to three diamond core rigs across its flagship Estelle Gold and Critical Minerals Project, located in the US state of Alaska.

The miner said the drilling program will be complemented by extensive regional mapping and surface exploration.

Nova Minerals aims to advance the Estelle Project to Pre-Feasibility Study (PFS) stage, noting that pilot-scale antimony production is on track for first production in late 2026 to early 2027.

If you're unfamiliar with antimony, you'll often find the silvery metalloid used in batteries and to strengthen other metals, including lead. And, importantly for miners like Nova Minerals, the United States currently has no secure domestic antimony supply.

Indeed, management noted that Nova's 2026 exploration programs are fully funded, with over $85 million available through cash and US$43.4 million through US Department of War (DoW) award funding.

The ASX All Ords gold stock plans to make the most of the near 24-hours of daylight during the Alaskan summer over a minimum three-month period, noting that its operations are set for continuous drilling seven days a week.

Nova Minerals expects to commence in the coming weeks.

What did Nova Minerals management say?

Commenting on the upcoming drill campaign that's helping boost the ASX All Ords gold stock today, Nova Minerals CEO Christopher Gerteisen said, "We are excited to commence the 2026 field season, which is expected to represent a major advancement for the Estelle Gold and Critical Minerals Project."

Gerteisen added:

The program includes one of the largest drill campaigns undertaken at Estelle to date, targeting both gold resource expansion and antimony development opportunities…

I can report we have already produced antimony metal and military-grade antimony trisulfide at the lab scale from Estelle stibnite ores which is now being assayed and certified.

The post Up 116% in a year, why is this ASX All Ords gold stock leaping higher in Thursday's sinking market? appeared first on The Motley Fool Australia.

Four ASX shares that are rising more than most today are listed below. Here's why they are racing higher:

Boss Energy Ltd (ASX: BOE)

The Boss Energy share price is up almost 8% to $1.73. This is despite there being no news out of the uranium producer today. However, it is worth noting that most uranium stocks are rallying today. And with short sellers having a high level of interest in Boss Energy shares, some could be buying shares to close positions.

Macquarie Group Ltd (ASX: MQG)

The Macquarie share price is up almost 4% to $232.24. This appears to have been driven by a bullish broker note out of Morgan Stanley this morning. According to the note, the broker has upgraded the investment bank's shares to an overweight rating with an improved price target of $270. The broker believes that Macquarie is well-placed to benefit from volatility in commodity markets. And while it concedes that its shares are not cheap, it still sees potential for a meaningful re-rating thanks to its positive earnings growth outlook. Morgan Stanley's price target implies potential upside of 16% over the next 12 months.

Nova Minerals Ltd (ASX: NVA)

The Nova Minerals share price is up almost 10% to 75.2 cents. Investors have been buying this gold explorer's shares following the release of drilling results from its flagship Estelle Gold and Critical Minerals Project, which is located in the prolific Tintina Gold Belt in Alaska. Management stated: "The 2025 surface sampling at Portage Pass has outlined a broad gold anomaly just over the ridge from the established Korbel deposit. The proximity to existing resources and proposed infrastructure makes Portage Pass particularly compelling. These early results reinforce our belief that the greater Estelle district continues to deliver new opportunities with real upside potential."

WiseTech Global Ltd (ASX: WTC)

The WiseTech Global share price is up 6% to $39.38. The catalyst for this has been a strong night of trade on Wall Street's Nasdaq index for software stocks. WiseTech isn't alone with its rise today. Most tech stocks are rising today. This has led to the S&P/ASX All Technology Index is up 2.55% at the time of writing.

The post Why Boss Energy, Macquarie, Nova Minerals, and WiseTech shares are storming higher today appeared first on The Motley Fool Australia.

Over the weekend, Spruce Point Management issued a research report on Nova Minerals, casting doubt on the company's ability to bring its Estelle project in Alaska into development.

Claim Nova's not up to the task

Spruce Point, which is a short seller and would stand to gain from a fall in Nova's shares, said it had looked at the company's project and management, and concluded that "investor expectations are too high''.

They went on to say:

While the mining exploration and resource production business is notoriously risky with many factors outside of the company's control, we express concerns with management's lack of consistent focus, inability to meet deadlines, and difficulties realising value in previously promoted strategic investments. We estimate that Nova's share price has near-term downside risk of approximately 45% – 60% but under certain scenarios, including a potential loss of a $43.5m Department of War award, up to 100% downside and we believe it is likely to significantly underperform the junior gold mining index.

Spruce said there were significant challenges in bringing the Estelle project to fruition, including the harsh Alaskan environment, and also cast doubt on whether the geologist who signed off on Nova's resource estimations even exists.

Nova: Report is hogwash

Nova's three-page response to the report says that, while it sees a place for short selling in a functioning market, the claims put forward by Spruce were incorrect.

The company said:

The majority of the report consists of statements that are historical, selective, or non-material, and whether accurate or not, are wholly irrelevant to the Company's operations, assets, or prospects. The company will not be responding to these statements and provides the following examples for context only.  

One example cited by Nova was regarding Spruce's claim that "Alaska is cold, receives snowfall, has harsh weather conditions, lacks urban infrastructure in its mountainous interior, and that some community members oppose development.''

The company went on to say:

The company can confirm that all of this is true and has been true for quite some time. Alaska's climate and geography have been well documented since at least 1867, when the United States purchased the territory. These are inherent characteristics of resource development in Alaska and have been consistently disclosed by the company. Every major gold mine operating in Alaska today was developed in the same conditions.

Nova also confirmed that other companies had previously held its mining claims, but said that it had invested more than $100 million in exploration and development at the project, and added that the company's US$43.4 million grant from the Department of War followed a rigorous two-year due diligence project.

Nova added:

A refinery site has been secured, procurement of key mining and processing equipment is well underway, with initial deliveries to site imminent, and first production targeted for late 2026/2027. At the same time, the company is also progressing its pre-feasibility study on one of the world's largest undeveloped gold deposits.

The company also confirmed that the consulting geologist who had signed off on the company's reports was registered with the Australian Institute of Geologists.

Nova shares were 2.7% higher in early trade at 77 cents. Nova was valued at $342.1 million at the close of trade on Friday.

The post A short-seller attack has failed to dent this gold developer's prospects appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

DroneShield Ltd (ASX: DRO)

The DroneShield share price is down 5.5% to $4.22. This follows the release of the counter-drone technology company's shares following the release of its fourth quarter and full year update. DroneShield reported revenue of $51.3 million for the fourth quarter, which was a 94% increase on the prior corresponding period. This brought its total revenue for FY 2025 to $216.5 million, which is an increase of 277% on last year's revenue of $57.5 million. It was also ahead of Bell Potter's estimate of $210 million. Today's weakness could have been driven by another announcement which revealed that 9.2 million options have vested for employees after it hit its $200 million cash receipts goal. Last time options were vested there was a big selloff.

Life360 Inc (ASX: 360)

The Life360 share price is down 8% to $31.13. This appears to have been driven by profit-taking from investors after a very strong gain on Friday. Investors were buying its shares after it released a very strong fourth quarter update. Life360 reported monthly active users (MAU) of 95.8 million, which is up 20% year on year. This comprises US MAU of 50.6 million and international MAU of 45.3 million. Another positive was that its Paying Circles (paid users) grew 576,000 to 2.8 million. This was the largest annual net addition on record. Management also upgraded its FY 2025 revenue guidance. It is now expected to be between US$486 million and US$489 million, which represents a year on year increase of 31% to 32%.

Nova Minerals Ltd (ASX: NVA)

The Nova Minerals share price is down 8% to $1.18. Investors have been selling the gold and antimony explorer's shares following the release of its quarterly update. Commenting on the quarter, Nova's CEO, Christopher Gerteisen, said: "The December quarter was marked by the award of US$43.4 million in non-dilutive funding from the U.S. Department of War, which fully funds the development of stage 1 antimony production at Estelle, which will feed into the U.S. supply chain. This support enables us to accelerate our strategy to become a fully integrated U.S. producer of military-grade antimony."

Santana Minerals Ltd (ASX: SMI)

The Santana Minerals share price is down 8% to $1.07. This follows the release of the gold developer's quarterly update. Santana Minerals revealed a cash outflow of approximately $10 million for the three months. This reduced its cash balance from approximately $100 million to approximately $90 million.

The post Why DroneShield, Life360, Nova Minerals, and Santana shares are falling today appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Aeris Resources Ltd (ASX: AIS)

The Aeris Resources share price is down almost 4% to 52 cents. This morning, this copper miner revealed that it has increased its share purchase plan (SPP) offer in response to strong demand. Aeris was looking to raise $10 million at 45 cents per share, but received applications in excess of $21.6 million. It has decided to increase the offer instead of scaling back applications, with all valid applications accepted. Aeris Resources advised that proceeds from the share purchase plan will be applied to general working capital.

Netwealth Group Ltd (ASX: NWL)

The Netwealth share price is down 2.5% to $26.31. On Thursday, this investment platform provider has agreed to pay $100 million in compensation to First Guardian investors. In response, Ord Minnett has retained its hold rating on Netwealth's shares with a reduced price target of $27.75 (from $29.00). This implies potential upside of approximately 5.5% for investors. Elsewhere, the team at Citi remains positive and has retained its buy rating with a reduced price target of $30.65 (from $35.00).

Nova Minerals Ltd (ASX: NVA)

The Nova Minerals share price is down 12% to 90.5 cents. This gold and critical minerals stock has returned from suspension today after announcing the pricing of a US$20 million NASDAQ offering. The company advised that it intends to use the proceeds for planned exploration and development activities on its Estelle Project. This includes additional drilling and exploration, feasibility and environmental studies, camp expansion, permits and approvals, initial development activities, and for general corporate purposes and working capital.

Paragon Care Ltd (ASX: PGC)

The Paragon Care share price is down a further 9% to 20.5 cents. This medical equipment, devices, consumables, and pharmaceuticals provider's shares have been hammered this week. This has been driven by news that receivers and administrators have been appointed to 54 pharmacies in the Infinity Retail Pharmacy Group after it failed to repay its Wesfarmers Ltd (ASX: WES) debt. Paragon Care was also owed $47 million and that repayment now looks unlikely.

The post Why Aeris Resources, Netwealth, Nova Minerals, and Paragon Care shares are dropping today appeared first on The Motley Fool Australia.

Thanks to another strong gain on Wednesday, this ASX mining stock is up over 180% since the end of last week.

Which ASX mining stock?

The stock that is getting investors excited this week is Nova Minerals Ltd (ASX: NVA).

It is a gold, antimony, and critical minerals exploration and development company focused on advancing the Estelle Project in the United States.

The company notes that it comprises 514 km2 of State of Alaska mining claims, which contains multiple mining complexes across a 35 km long mineralised corridor of over 20 advanced gold and antimony prospects. This includes two already defined multi-million-ounce resources and several drill ready antimony prospects with massive outcropping stibnite vein systems observed at surface.

Why are its shares rocketing?

It is the ASX mining stock's exposure to antimony that is catching the eye of the market this week.

Antimony is a critical mineral for defence and high-tech applications, and has seen growing demand due to its use in munitions, semiconductors, and energy systems.

On Tuesday, the company announced that it has been requested by Kevin Rudd AC, Australian ambassador to the United States, to provide a briefing on its Estelle Gold and Critical Minerals Project ahead of the meeting between Australian Prime Minister Anthony Albanese and U.S. President Donald Trump on 20 October in Washington DC.

This follows a site visit by the Australian Consular-General, Tanya Bennett in August this year which it highlights recognised the Estelle Project as a leading example of the deepening Australia–United States collaboration in critical minerals and strategic resource development.

Commenting on the invite, Nova's CEO, Christopher Gerteisen, said:

Being invited to brief the Australian Government for this high-level meeting between Prime Minister Albanese and President Trump is a testament to the strategic importance of the Estelle Project. With antimony recognized as a critical mineral and our gold resources adding significant value, Nova is well-positioned to contribute to both U.S. and Australian critical minerals strategies.

The US$43.4 million DoW [Department of War] award and our secured land at Port MacKenzie underscore our commitment to building a secure, domestic supply chain for antimony and supporting U.S. defense and industrial needs. We look forward to continued collaboration with both governments as we advance the Estelle Project toward production.

The post This ASX mining stock is up 180% this week on Donald Trump news appeared first on The Motley Fool Australia.

Not only that, but top broker Goldman Sachs reckons lithium commodity prices won't bottom until 2025.

Despite this gloomy backdrop, several directors of two beaten-up ASX lithium micro-caps are ploughing more of their own investment funds into their companies this week.

Which directors are buying ASX lithium shares?

Patrick Murphy, a non-executive director of lithium explorer Green Technology Metals Ltd (ASX: GT1), is our first buyer.

Murphy snapped up 362,610 shares on-market over three days in late December and early January. The series of trades cost him a little over $100,000 at an average price of 27.6 cents.

And he's not the only director buying.

Last month, Cameron Henry also bought 386,148 Green Technology shares for close to $100,000 on-market. He paid an average of 25.9 cents per Green Technology share.

John Young also bought 750,000 shares over two days on-market at an average price of 26.1 cents for a total investment of $196,196.

The buys followed a capital raise in December that raised $14.6 million through the issue of 39,477,680 new shares at 37 cents per share.

The Green Technology share price is currently 19 cents, down 5% for the day. There is no official news relating to the ASX lithium share today.

ASX lodgements also reveal that two directors of Nova Minerals Ltd (ASX: NVA) have also been buying up more shares.

Chris Gerteisen spent just over $15,000 buying 45,000 Nova Minerals shares this week at an average price of 33.8 cents.

The notice also revealed that he let 500,000 unquoted director options expire on 29 December. They were exercisable at 75 cents per share.

Also this month, Craig Bentley bought 200,000 Nova Minerals shares for a tad under $68,000. That's an average price of 33.9 cents per share.

The Nova Minerals share price is currently 33 cents, up 1.54% for the day. There is no news from the company today.

The post 2 beaten-up ASX lithium shares being bought up by directors appeared first on The Motley Fool Australia.

The theory is that if they have the confidence to buy shares, it could be a sign that things are going well and they expect them to appreciate in value.

With that in mind, listed below are five ASX mining shares that have reported insider buying recently:

Andromeda Metals Ltd (ASX: ADN)

A non-executive director of this ASX-listed emerging industrial minerals producer has been buying shares on the market. A change of director's interest notice reveals that Austen Perrin picked up 939,598 shares between 19 June and 21 June for a total consideration of $38,889.37.

Challenger Gold Ltd (ASX: CEL)

Another ASX mining share reporting insider buying has been gold developer Challenger Gold. According to a notice, the company's non-executive chairman, Fletcher Quinn, bought 1 million shares through an on-market trade on 23 June. Quinn paid a total of $113,720 for the parcel of shares.

Lunnon Metals Ltd (ASX: LM8)

This nickel and gold explorer has also reported some insider buying. Non-executive director Deborah Lord bought 35,000 shares at an average of 93 cents per share on 22 June. This represents a total consideration of $32,550.

Nova Minerals Ltd (ASX: NVA)

A couple of directors of this gold developer have been buying its shares on-market. CEO Chris Gerteisen picked up a modest 25,000 for $6,500. Whereas executive director Craig Bentley snapped up 512,144 shares for a total consideration of $135,355.15. Nova Minerals is developing North America's next major gold trend, Estelle, to become a world-class, tier-one, global gold producer.

Prospect Resources Ltd (ASX: PSC)

A final ASX mining share that has reported insider buying is Prospect Resources. It is a lithium explorer with operations in Zimbabwe. Three directors have been buying shares recently. This includes Gerry Fahey picking up 300,000 shares for 10.5 cents per share on 20 June, Sam Hosack snapping up 1,670,000 shares for between 10.5 cents and 14.07 cents per share across 20 June and 22 June, and Mark Wheatley buying 500,000 shares at 10.5 cents per share on 19 June.

The post 5 ASX mining directors buying up their company shares in the past week appeared first on The Motley Fool Australia.

The mining sector is one of the biggest on the ASX, making up around a quarter of the All Ordinaries Index (ASX: XAO). And with hundreds of ASX mining stocks to choose from, there's bound to be a winner out there for every type of investor.

But, as with any investment, most people, likely including these directors, buy in because they believe their purchase will provide returns.

So, without further ado, let's dive into three ASX mining shares that insiders have been snapping up.

3 ASX mining shares bought by insiders recently

Syrah Resources Ltd (ASX: SYR)

The first ASX mining share seeing insider buying lately is Syrah Resources.

The company's chair, Jim Askew, snapped up 200,000 shares on the market last week, paying 91 cents apiece to do so.

That saw the director forking out a total of $182,000 to bolster his total indirect holding in the graphite producer to more than 700,000 stocks.

So far that's been a good buy. The Syrah share price is currently 92 cents ­– leaving Askew with a 1% return so far.

Nova Minerals Ltd (ASX: NVA)

There was also director buying action over at gold and lithium explorer Nova Minerals. Director Craig Bentley indirectly purchased 300,000 shares in the ASX mining company on market last week.

The insider paid a total of nearly $105,000 for the stake – around 35 cents apiece.

That sees him holding approximately 1.2 million shares directly and another 2.5 million indirectly.

Sadly, the insider's most recent purchase has so far resulted in a loss. The Nova Minerals share price is trading at 32.5 cents right now.

Rumble Resources Ltd (ASX: RTR)

Finally, non-executive director of Rumble Resources Matthew Banks has bolstered his position in the metal explorer.

He purchased a little over 823,600 of the ASX mining company's shares on market over the course of two days last week, paying nearly $155,500 to do so.

That equates to 18.9 cents a share and sees the insider holding 3.25 million shares in the company directly and around 18.8 million indirectly.

Right now, the Rumble Resources share price is trading marginally above the purchase price, at 19 cents.

The post 3 ASX mining directors buying up their company shares appeared first on The Motley Fool Australia.

It is primarily a gold company, but also has a significant stake in lithium, primarily through its 37% stake in the US–listed Snow Lake Lithium. 

Nova shares have had a tough time of late, unlike many of its larger lithium peers. While shares like Pilbara Minerals Ltd (ASX: PLS) have boomed over the past 12 months, Nova shares have retreated by a painful 57.7% or so:

But Nova has one thing going for it right now – the unbridled enthusiasm of its management team.

Nova released a series of ASX notices on 13 April earlier this month. These showed that not one, not two, but three of its directors have been buying up shares of this ASX lithium stock. Including the CEO.

Nova management buys up shares hand over fist

Firstly, there was Craig Bently, director of finance and compliance at Nova. The ASX release shows that Bently purchased 300,000 additional Nova shares on 12 April for a cost of $100,450. That brings his total holdings (both direct and indirect) to more than 2 million shares.

Then there was executive director Louie Simens. ASX records show Simens bought 114,200 shares on 12 April as well, for a sum of just under $40,000. He now owns roughly 8 million Nova Minerals shares, both directly and indirectly.

Last, but certainly not least, we have Nova Minerals director and CEO Christopher Gerteisen. Gerteisen also picked up an extra 95,000 shares on 12 April, for a total cost of $30,850. That lifts his total holdings to just under 900,000 shares.

So why are these directors all buying up shares right now? Well, we don't know for sure – no reasoning was given with these purchase notices. But we can assume that these buys went through for the same reason that most do – the buyers think it is a wise investment that will make them money over time.

In a recent investor presentation, Nova Minerals argued that it is undervalued. The company pointed to its estimated reserves of 9.9 million tonnes against its market capitalisation and argued that it is trading at a significant discount against other ASX gold miners.

But only time will tell if these director buys prove to be canny investments. No doubt shareholders will appreciate the financial dedication of management though.

The post Why are 3 directors buying up this ASX lithium stock? appeared first on The Motley Fool Australia.

The supreme court of Western Australia last week handed down the penalty to Don George Evans of Woodlands, Western Australia for conspiring to illegally push up the stock price of an ASX-listed mining company.

The court heard that Evans met then-director of Quantum Resources, Avrohom Kimelman, and corporate consultant Benjamin Heath Cooper to come up with a plan to pump up the Quantum share price to a certain level.

They then executed the manipulation on 16 November 2015 by coordinating a series of trades and encouraging other investors to buy in.

Quantum Resources is now known as Nova Minerals Ltd (ASX: NVA).

During sentencing, Justice McGrath stated the sentence needed to be sufficient to deter others who could be tempted into such behaviour.

"Compliance… is vital to maintain market integrity and promoting the confident and informed participation of investors in the financial market operated by the ASX."

Evans was also prohibited from managing corporations for five years.

All three conspirators now sentenced

According to Australian Securities and Investments Commission deputy chair Sarah Court, Evans' imprisonment wraps up its actions in relation to Quantum shares after the other two people involved were previously sentenced.

"ASIC is committed to acting against conduct that damages the integrity of Australia's markets," she said.

"Market manipulation undermines investor confidence and ASIC will take strong and considered action to combat it."

Evans was released immediately after the sentencing hearing on a recognisance of $5,000, contingent on two years of good behaviour.

Kimelman was sentenced to 18 months' imprisonment back in November 2021. Cooper was given 15 months in a decision handed down in December last year.

The post ASX investor gets 12-month sentence for share price manipulation appeared first on The Motley Fool Australia.

Out of the 28 lithium shares we compared to create this list, only six of them reported positive movements in their share prices, with the rest either recording a loss or a neutral price movement.

As could be expected, some companies reported greater losses than others.

So let's cover September's biggest losers in the lithium space.

Nova Minerals Ltd (ASX: NVA)

The biggest loser for the month of September was Nova Minerals, which recorded a 31.38% decline in its share. While primarily a gold explorer, Nova Minerals also has a 37% stake in Snow Lake Resources Ltd (NASDAQ: LITM), a company that's exploring lithium at the Thompson Brothers Lithium Project in Manitoba, Canada.

Shares opened for 94 cents on 1 September and closed for 65 cents at the end of the month.

This may surprise those who follow the company, as Nova Minerals reported largely positive results in its annual report for FY22 on 20 September. One highlight for the financial year is that its total comprehensive income grew to $38.09 million, which is up from a $4.3 million loss in the previous corresponding period.

The company also posted a positive update for its lithium business to the market on 16 September. A resource upgrade was issued for Snow Lake Resources amid drilling of 20,000 additional metres. This drilling effort reportedly "accelerates Snow Lake's path towards commercial production".

Snow Lake is pursuing plans to make its lithium extraction site the world's first renewable energy-powered electric mine.

Lepidico Ltd (ASX: LPD)

Shares of Lepidico also had an atrocious month in September as they lost 26.66% of their value. The Lepidico share price opened at 0.03 cents on 1 September. It closed at 0.022 cents at the end of the month.

The miner's shares were sold off following the company reporting a total comprehensive loss of $7.78 million for FY22 on 23 September.

Other updates for the company included drill results from its Helikon 4 pegmatite at its Karibib project in Namibia. Assay results from the drilling effort uncovered high yields of lithium oxide.

The release also stated that front-end engineering and design (FEED) for its Phase 1 chemical plant is due to complete in November 2022.

Lake Resources N.L. (ASX: LKE)

Finally, the Lake Resources share price dropped 21.49% in September. Shares opened for $1.14 on 1 September and closed at 90 cents each at month close.

A large part of the sell-off unfolded over the course of a week. The company lost 17% during this time.

The miner has been contending with interest from short sellers. Its short interest ratio shot up to 9.9% on 26 September.

As the Fool reported earlier, J Capital believes that its lithium extraction technology is unproven and could generate toxic waste as part of the production process. Lake Resources denies these claims. Though this commentary by J Capital has seemingly done nothing to improve the sentiment around Lake Resources' shares.

On a greater level, ASX lithium shares could be feeling the pinch of rising interest rates, which has led to more volatility than usual in the market over the past couple of weeks.

The post Here were the 3 worst performing ASX lithium shares in September appeared first on The Motley Fool Australia.

While a few lithium stocks are smashing the 1.2% loss posted by the All Ordinaries Index (ASX: XAO) on Friday afternoon, others are significantly trailing the benchmark index.

This comes as lithium prices remain near record highs amid strong global demand for electric vehicle and grid storage batteries.

We'll kick off with today's two worst-performing ASX lithium shares.

ASX lithium shares in the red

The leading loss maker today is Nova Minerals Ltd (ASX: NVA). The small-cap explorer is focused on both gold and lithium, with a 37% stake in the Snow Lake Lithium Project in Manitoba, Canada. The Nova Minerals share price is down 8.7% today and down 47% in 2022.

Also losing ground today is Global Lithium Resources Ltd (ASX: GL1). The emerging lithium exploration company is primarily focused on the Marble Bar Lithium Project, located in Western Australia. The Global Lithium share price is down 7% today but remains up 87% year-to-date.

With the two leading loss makers covered, here are the top two ASX lithium shares today.

Charging higher

The broader selling pressure hitting the market today hasn't impacted investor appetite for today's second-best performer, Prospect Resources Ltd (ASX: PSC). The battery minerals explorer share price is up 4.8% at the time of writing.

And the best performing ASX lithium share today is Aurora Energy Metals Ltd (ASX: 1AE). The United States-focused uranium and lithium explorer commenced trading on the ASX on 18 May this year with a focus on its Aurora Energy Metals Project in Oregon. The Aurora Energy share price is up 9.3% today.

As for the top name ASX lithium shares?

Rounding off the list with some of the biggest lithium stocks, the Core Lithium Ltd (ASX: CXO) share price is frozen today after the company requested a trading halt pending an announcement regarding the launch of its $100 million capital raise.

Meanwhile, the Pilbara Minerals Ltd (ASX: PLS) share price is down 2.4% and Allkem Ltd (ASX: AKE) shares are down 2.8%.

The post Here are the big ASX lithium share winners and losers on Friday appeared first on The Motley Fool Australia.

Benjamin Heath Cooper of Brighton-Le-Sands made the plea to one charge at the Stirling Gardens Magistrates' Court in Western Australia.

He now faces up to 10 years' imprisonment. In 2019 the maximum penalty was increased to 15 years, but Cooper's offence occurred in 2015.

The conviction was the result of an investigation by the corporate watchdog Australian Securities and Investments Commission.

Cooper, on 16 November 2015, conspired with Quantum Resources Limited director Avrohom Kimelman and one other person to manipulate the company's shares.

Quantum Resources Limited is now known as Nova Minerals Ltd (ASX: NVA).

Kimelman was convicted last year after pleading guilty.

Cooper's case was adjourned to a directions hearing at the Supreme Court of Western Australia on 30 August.

The post Sydney man faces 10 years' jail for manipulating ASX shares appeared first on The Motley Fool Australia.

In late trade, the gold developer's shares are down 10% to 85.5 cents.

Why is the Nova Minerals share price sinking today?

The Nova Minerals share price has come under pressure today following news that the company has completed the sale of a portion of its investment holding in lithium developer Snow Lake Resources.

According to the release, the company has sold 3 million Snow Lake Resources shares in an underwritten secondary offering, which represented approximately 31% of its holding, at a price of US$6.00 per share.

This represents a 6.25% discount to the closing price on the day but an 11.6% discount to the current Snow Lake Resources share price on the Nasdaq.

The release advises that the company received total proceeds of US$18 million (A$24 million) before underwriting fees and offering expenses.

In light of this sale, the company is now fully funded to continue its aggressive resource development drilling and study programs at its 9.6 Moz Estelle Gold Project. Funds will also be used for general working capital purposes.

Based on the Nova Minerals share price performance today, some investors appear to be disappointed with the selldown given booming lithium prices.

Management commentary

Nova's CEO, Christopher Gerteisen, believes the sale was the right move and represents a major milestone. He commented:

"This funding represents another milestone achievement for the Company and illustrates our strict capital management strategy, of identifying and entering strategic investments cheaply, growing them over time, and then monetising them to fund our path to production at the Estelle Gold Project, all while minimising dilution to Nova shareholders and keeping debt off our balance sheet.

"The price obtained for the sale of our Snow Lake shares, which was a complex transaction given Nova's position as a major founding shareholder, was dictated by the regulatory approval timeframe and market conditions, with the LIT ETF, NASDAQ, many of the lithium juniors, and other major lithium indicators all heavily down having experienced a correction at the time of pricing.

"Nova is a gold company focused with passion, determination, and purpose on developing our flagship Estelle Gold Project. The opportunity cost of not being fully funded and committed to completing the full slate of aggressive 2022 work programs, which are expected to add enormous value to the Company with so much resource upside at play, was not an option we considered."

The post Here's why the Nova Minerals share price is tumbling 10% today appeared first on The Motley Fool Australia.

The jump follows this morning's release of a comprehensive company report — detailing a large increase in the gold extraction expected to be reaped from its Alaskan project.

Nova Minerals estimates another 55% will be extracted from the site, totalling around 9.6 million ounces. 

At the time of writing, the Nova Minerals share price is up 10.78% at $1.14. In early trading, it was as high as $1.20 — a near 17% gain on its last closing price.

Alaskan project a 'company-making' development

The Australian-based resource exploration company operates a flagship gold exploration site in Alaska, in an area deemed the Tintina gold province.

Within its 'Estelle' site, two out of 15 extraction zones have shown the promising gold deposits which are driving the Nova Minerals share price today.

These two sites are the Korbel Main deposit and the RPM deposit.

The company entered a trading halt back in October as it released its initial maiden gold resource estimate of 1.5 million ounces at the RPM deposit.

Commenting on today's announcement, Nova Minerals chief executive Christopher Gerteisen said:

Korbel Main at our Estelle gold project is a 'company-making' deposit with high grades continuing to highlight the massive upside potential that remains. Korbel Main changes the future for Nova and our shareholders. It only represents a small area of the extensive local mineralised system.

Nova's management, with much credit to our team on the ground, has taken the Estelle gold project from discovery to a multi-deposit gold district in a short timeframe and on relatively limited funding and the exciting point is that we're only getting started.

Further updates for Nova Minerals

With further goals on target, Gerteisen said the company had discovered minerals at two more zones within the Estelle project. He said he was confident its "global resource inventory will continue to grow for many years to come".

Gerteisen also said the company was still awaiting assay results for an already drilled 8,000m at the Korbel Main site, which are set to be released to shareholders in a mineral resource update next year.

In the meantime, multiple diamond rigs would be mustered at the site.

Pre-feasibility studies in "metallurgy, geotechnical, mining, environmental, infrastructure, and hydrogeology" are also continuing amid the drilling projects.

Nova Minerals share price snapshot

The Nova Minerals share price has dropped around 31% over the last month and year. 

The company, which also has an indirect interest in lithium, has a market capitalisation of $183.8 million based on its current share price.

The post Here's why the Nova Minerals (ASX:NVA) share price jumped 17% today appeared first on The Motley Fool Australia.

However, all may not be what it seems if you dig a little deeper.

What's going on with the Nova Minerals share price today?

At the time of writing, the Nova Minerals share price is trading at $1.16. This is up 800% from 13 cents at Friday's close.

While the difference in its share price may technically be accurate, something occurred between Friday's close and Monday's open that means the gains are not.

Last week shareholders approved a share consolidation that will see the gold explorer's share count reduce ten times from 1,802,037,557 shares to approximately 180,203,755 shares.

This meant that the Nova Minerals share price would be $1.30 post-consolidation (13 cents x 10).

As a result, rather than gaining 800% today, Nova Minerals' shares have actually lost approximately 11% of their value instead.

Why is the company consolidating its shares?

Management provided a number of reasons for why it is consolidating its shares. These includes greater investor interest, improved trading liquidity, and brand image.

It commented: "As a gold developer with a rapidly increasing resource base, Nova is expected to appeal to many new investors over the coming year. The primary motive for the equity consolidation is to expand the eligibility of Nova ordinary shares for institutional investors, stock exchanges, indexes and investment funds, including exchange traded funds (ETF's). With the increasing prevalence of passive trading rather than active fundamental investing, we intend to ensure that Nova is not prohibited due to minimum share price screening."

As for improving trading liquidity, it explained: "An increased interest from investors may improve trading liquidity of the ordinary shares."

Finally, in respect to its brand image, the company said: "Nova is graduating from an explorer to a developer and growing its intrinsic value through its investments. An analysis of Nova's new peer group of junior developers indicates that this restructuring of ordinary share capital is appropriate for the company at this time with such a large asset base."

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Shortly after exiting a company-requested trading halt from this morning, the Nova Minerals share price is now trading around 7% higher at 16 cents.

Here are the details.

What did Nova Minerals announce?

Nova advised of the "maiden inferred gold resource estimate of 1.5 million ounces for the RPM North Prospect" at its Estelle site northwest of Anchorage in Alaska.

The prospect is one of 15 additional known gold occurrences at the Estelle site and remains "open at depth and along strike with further upside at the RPM South".

According to the update, the resource begins less than 2 metres from the surface and is less than half a percent of the entire project area.

Estimations were obtained from drill hole data. As it stands, the "much larger footprint RPM South Zone has yet to be drill tested".

Nova is now mobilising several diamond drilling rigs to the RPM North prospect as early as possible in 2022. It plans to set up multiple rigs operating 24 hrs a day 7 days a week to beef up the maiden resource.

Speaking on the announcement, Nova Minerals CEO Christopher Gerteisen stated the discovery highlights the "massive upside potential" of the Estelle project.

He added:

Nova's management, with much credit to our team on the ground, has taken Estelle Gold Project from discovery to a multi deposit Tier 1 scale 6.2 Moz gold district in a short timeframe and on relatively limited funding. Five drill rigs are currently focused on growing Korbel and RPM with more rigs to follow…I have no doubt we will be drilling and growing our total global resource inventory for many years to come. We now look forward to a Resource Upgrade for Korbel Main, incorporating the high-grade feeder zones, in Q4.

Aside from this update, Nova also advised that "aggressive infill and extension drilling is ongoing" at its Korbel Main site with the aim of increasing the 4.7 million ounce resource size to expedite feasibility studies.

The main resource update for Korbel Main "remains on track for update before EOY [end of year] 2021". As well, there are assays for more than 10,000m of drilling still to interpret from this site.

It also advised that its "Snow Lake Resources (majority-owned lithium company) status [is] due shortly".

Nova Minerals share price snapshot

The Nova Minerals share price has had a stagnant year to date, finding itself at the same level it was at on January 1. Things aren't any better zooming out with a 3% dip into the red over the last 12 months.

Each of these returns have lagged the benchmark S&P/ASX 200 Index (ASX: XJO)'s return of around 21% in that time.

The post Nova Minerals (ASX:NVA) share price jumps 7% on maiden gold update appeared first on The Motley Fool Australia.

Nova Minerals shares are on the move after the company announced a key update regarding its flagship Estelle Gold Project.

Here's what we know from what Nova released.

Nova Minerals share price spikes on 'bonanza' gold results

Nova announced it had intersected a broad zone of high-grade "bonanza" gold grades when drilling at the Estelle site's RPM North mineralised prospect.

Drilling is now complete at this section with a further three holes pending. According to Nova, the goal is to "delineate a maiden resource by late 2021" and then advance through the project's pipeline.

This marks the end of the maiden drill program at RPM North, and a follow-up work program is now being planned for the next round of drilling.

Aside from this, the work program also intends to extend the gold zone's footprint for the RPM South prospect as early as possible in 2022.

Furthermore, the RPM prospect is "now confirmed to be the second significant project development area at Estelle, and will be a key component" in the path to production at its Estelle site.

The results build on previous drill results Nova announced last month regarding its RPM North prospect. The company now has assay results pending for over 10,000m of drilling from both its RPM prospect and additional Korbel Main site.

Nova also advised that all rigs have moved back to the Korbel Main site, to maximise infill and drill data for upcoming mineral resource updates.

In a separate point, Nova also exclaimed that a "Snow Lake Resources update (is) due shortly".

What did management say?

Speaking on the announcement, Nova Minerals CEO, Christopher Gerteisen said:

This marks a major milestone for Nova Minerals. RPM is now confirmed to be the second significant project development area at Estelle and will be a key component of our ongoing resource development work on our path towards production at the Estelle Gold Project. This is what unlocking a district looks like, and we will continue to do so with Korbel and RPM representing only 2 of 15 known prospects with the wider Estelle Gold Project claims. In addition to these, there are numerous unnamed colour anomalies across our 324km2 claim block.

Nova Minerals share price snapshot

The Nova Minerals share price has had a difficult year to date, having posted a return of just 3% since the beginning of the year.

Despite this, it has climbed over 68% into the green in the past year of trade, after rallying 14% in the last month.

This result outpaces the S&P/ASX 200 Index (ASX: XJO)'s gain of around 20% in the past year.

The post Nova Minerals (ASX:NVA) share price rockets 52% on gold update appeared first on The Motley Fool Australia.

Nova Minerals shares are on the move after the company successfully completed a capital raise to fund its growth vision in Alaska.

Here's what we know.

What did Nova Minerals announce?

Nova successfully raised $12 million to finance developments across its Estelle gold district in Alaska.

It raised the funds through the issue of 109 million ordinary shares at a price of 11 cents each.

The company has released a flurry of market sensitive announcements over the last week regarding this site, and also released its annual report today as well. 

In its results, the company outlined its financial development for the year, where it ended FY21 with just over $15 million in cash.

The $12 million raised today is therefore a welcome addition to provide working capital and additional cash for the Estelle project.

Now it will put the funds to work to accelerate the development and growth of this site, hoping to potentially unlock further gold resources.

Primarily it will fund drilling projects at the site to identify more gold targets.

Nova will also use some of the funds to complete a pre-feasibility study for the project, whilst beefing up infrastructure there to make things more efficient.

Today's equity raise follows a previous $21 million that was drawn in for investors in November of last year to finance the Estelle project.

Investors certainly aren't impressed by the news and have sold Nova minerals shares in droves this afternoon. Perhaps they are seeking more juice for the squeeze out of Estelle.

The Nova minerals share price now trains 19% lower from the market open, extending its loss over the past week to 16%.

Nova minerals share price snapshot

The Nova minerals share price has had an incredibly bumpy year to date and has posted a loss of 27% since January 1.

Despite this, it is 7% in the green over the past 12 months.

Nonetheless, this is not enough to get ahead of the S&P ASX 200 index (ASX: XJO)'s return of around 25% this last year.

The post Nova Minerals (ASX:NVA) share price tanks 18% on cap raise news appeared first on The Motley Fool Australia.