Nova Minerals stock soars after announcing White House interest in Alaska mining project

Core Viewpoint - Nova Minerals' shares surged after the Trump administration requested a briefing on its Estelle Gold and Critical Minerals Project in Alaska, highlighting the project's significance in the context of U.S. domestic supply chain concerns for critical minerals [1][4]. Company Summary - Nova Minerals' stock doubled in premarket trading and later traded over 40% higher after the announcement [1][2]. - The Estelle Gold and Critical Minerals Project is described as one of the world's largest undeveloped gold assets, with an estimated 9.9 million ounces of gold valued at approximately $41 billion based on current gold prices [2][3]. - The company also received a $43.4 million investment from the Department of Defense for developing domestic antimony sources [3]. Industry Summary - The announcement reflects a broader trend in the critical minerals and metals sector, with increased focus from the Trump administration on domestic supply chains amid ongoing trade tensions with China [4][6]. - Other mining companies, such as MP Materials, Trilogy Metals, and Lithium Americas, have also seen significant stock price increases, with MP Materials and Trilogy Metals up over 500% and 490% respectively this year [5][6]. - Recent export controls from China on critical minerals have intensified the focus on U.S. domestic production capabilities [6][7].