Last year was a pretty darn good year for gold!
In 2022, the yellow metal was basically flat. Throughout 2023 gold started gaining steam and rose around 13%.
But in 2024, gold basically exploded gaining nearly 30% on the year.
As a hedge against inflation and uncertainties in fiat currency markets, the fundamental case for gold has been in high gear over the past couple years.
The Fed hasn’t (in truth) gotten inflation back under control. And the booming US debt and deficit spending has only served to keep the further devaluation of the dollar front and center in investors’ minds.
On the geopolitical front, wars are still raging in Europe and the Middle East.
More uncertainty.
Last week, the Wall Street Journal noted that, after a couple months of consolidation, the metal was back moving again…
On January 2, among all the data they noted regarding the price action in the front month Comex gold contract:
—It put in the largest one day dollar and percentage gain since Friday, Dec. 20, 2024
—It was up $52.80 or 2.03% over two consecutive sessions
—Which was the largest two day move since Wednesday, Dec. 11, 2024
—It was up four of the past six sessions
—It was its highest settlement value since Thursday, Dec. 12, 2024
—And it rose 30.19% from 52 weeks ago…
And in the face of all this, one small-cap miner has just reported a major find on its property north in Alaska.
Nova Minerals
Nova Minerals, an Australian junior mining company, has been making headlines.
Its flagship project is the Estelle Gold Project located in Alaska’s Tintina Gold Belt. Nova acquired the property in 2017 and has been exploring four major locations within it: Korbel, Train, RPM and Stoney.
According to the company:
Nova’s flagship Estelle Gold Project contains multiple resource centers across a 35km long mineralized corridor of over 20 identified gold prospects, including two already defined multi-million ounce resources across 4 deposits containing a combined JORC compliant 9.9 Moz Au.
In a press release from just last December, Nova detailed results from a fifth prospect — its Stibium prospect — within the property:
Highlights from the 2024 gold sampling at Stibium include rock chips with 141 g/t, 64.7 g/t, 62.3 g/t, 42.8 g/t, 34.8 g/t, 29.1 g/t, and 22.3 g/t gold.“These high-grade gold and antimony values occur over approximately 200m of vertical relief which makes Stibium a top drill target for 2025,” said Nova Minerals Head of Exploration Hans Hoffman.
Keep in mind that Nova is a junior miner. And as such they carry all the same risks as any junior miner. Their market cap is just over $77 million and while they have over $3 million cash on hand, they’re also carrying over $6 million in debt.
Still, the news out of the company has been encouraging of late. And Nova Minerals may be a company to keep an eye on.
