Date of Data Capture: 13/10/2021
Name: NOVA MINERALS LIMITED (NVA)
Classification: Gold Explorer
Current Price: $0.18
Market Capitalisation: $304 M
Forecast EBITDA Growth: N/A (pre-cash flow)
Yield Estimate: 0%
Consensus Price Target: N/A (uncovered)
# Covering Analysts: 0
Premium/Discount at Current Price: N/A
Price Target Trend (3-Month): N/A
Signal Timeframe: Quarterly-Monthly-Weekly
Trend Bias: Up-Down / Long-Medium
Focus: Capital Growth
Set up Notes:
· Nova is drilling out its gold assets in Alaska/US, developing this new exploration province - while it remains years away from cash flows, there could be a good entry on fresh strength here.
· Gold explorers are valued on ounces in the ground, and NVA was shaping up to be a large- scale, low-grade deposit - and then they hit bonanza grades (incl. 132m at 10.1g/t) this week.
· The market has responded enthusiastically to these intercepts as they further de-risk the high potential project significantly, with the stock rallying through linear resistance on momentum.
§ Support ($): 0.17, 0.16, 0.15, 0.13, 0.12 & 0.10.
§ Resistance ($): 0.20, 0.25, 0.30, 0.40 & 0.50.