In the dynamic world of the Australian Securities Exchange (ASX), penny stocks often fly under the radar, but they can offer compelling growth prospects and value for investors willing to take on higher risk. With market caps up to A$70 million, these three penny stocks have caught our attention due to their strong fundamentals, strategic initiatives, and market potential.

1. Nova Minerals Limited (ASX: NVA)
- Market Cap: A$247.5 million
- Nova Minerals has delivered impressive results from its Stibium Antimony-Gold prospect, with high-grade gold values and significant antimony concentrations. The company's flagship Estelle Gold and Critical Minerals Project in Alaska is also progressing well, with shallow, high-grade drilling intercepts and expanding mineralization zones.
- Nova Minerals has secured a $10 million finance facility with Westpac to enhance its balance sheet and flexibility. The company plans to capitalize on new USA EPA PFAS regulations by advancing its North American PFAS pipeline and aims to boost its presence in the Global Mining Sector through direct sales, local licensing, and partnerships, particularly with Nuoer Chemicals.
- With a strong focus on critical minerals and gold, Nova Minerals is well-positioned to benefit from favorable market dynamics and increasing demand for these commodities.



2. Auric Mining Limited (ASX: AWJ)
- Market Cap: A$1.1 billion
- Auric Mining has achieved strong results from its Jeffreys Find Gold Mine, surpassing 10,500 ounces of gold sold in 2024. The company is also progressing well with its mining campaigns and has signed a historic Native Title Agreement with the Ngadju Native Title Aboriginal Corporation, streamlining approval processes for its mining operations.
- Auric has entered into a conditional agreement to acquire the Burbanks Gold Processing Facility for A$4.4 million, which will enhance its operational flexibility and position the company to take greater control of its milling processes in the WA Goldfields.
- With a strong focus on gold mining and a solid cash position, Auric Mining is well-equipped to capitalize on favorable market conditions and growth opportunities in the gold mining sector.



3. SciDev Limited (ASX: SDV)
- Market Cap: A$141.28 million
- SciDev Limited has made notable progress across its divisions, with the Water Technologies division developing FluorofIX™ pilot plants in Europe and North America and securing a $4.7 million two-year extension for PFAS treatment with a major Australian mining client. Additionally, the company won a $2 million Build, Own & Operate (BOO) contract with Ventia for a temporary water treatment plant in Victoria and received a $9.35 million contract from a Tier 1 construction company to design and construct three water treatment plants for a new tunnel project in NSW.
- SciDev's Chemical Services division supported eight completion fleets across four North American oil and gas basins, saw a 51.5% increase in CatChek™ sales, and secured a two-year contract with Thunderbird Minerals Sands Project, expected to generate around $7.0 million in sales. The company expanded its international footprint with MaxiFlox® chemistry sales through resellers in Turkey and Mexico and established a joint venture in Singapore with Nuoer Group.
- With a strong focus on water technologies and chemical services, SciDev Limited is well-positioned to benefit from growing demand for sustainable and efficient resource management solutions.



In conclusion, these three ASX penny stocks – Nova Minerals Limited (ASX: NVA), Auric Mining Limited (ASX: AWJ), and SciDev Limited (ASX: SDV) – offer compelling growth prospects and value for investors willing to take on higher risk. Their strong fundamentals, strategic initiatives, and market potential make them attractive investment opportunities in the dynamic ASX market. However, investors should conduct thorough research and analysis before making any investment decisions, as penny stocks can be highly speculative and volatile.