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Novastar Resources Ltd. is a publicly traded company within the commercial mining sector and is a commercial mining firm engaged in the exploration of thorium, a naturally occurring metal that can be used to provide nuclear energy, with non-proliferation, waste and economic advantages, in comparison to standard uranium fuels. Novastar Resources' stock is traded and quoted on the OTC Bulletin Board under the symbol "NVAS". In February 2006, the company announced the signing of a definitive merger agreement with Thorium Power, Inc. Upon consummation of the merger, which has been approved by the Board of Directors of both companies, Thorium Power will become a wholly owned subsidiary of Novastar Resources. The combined company will operate under the name Thorium Power, Ltd.