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Norwest Minerals Limited (ASX:NWM)

ALERT: Price-sensitive ASX Announcement for NWM
Current share price for NWM : $0.010 0.002 (25%)+
Announcement
Release
10 Jul 2026 9:03AM
Price at Release
$0.008
Full Release
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Summary
Norwest Minerals Limited is undertaking a non-renounceable entitlement offer to raise approximately $1.89 million. The offer, which allows shareholders to purchase 1 new share for every 4 held at $0.007 each, is partly underwritten by Fortress Minerals Limited and Director Charles Schaus. Commitments from directors and major shareholders already total $630,000. The funds will support the Bulgera Heap Leach Scoping Study and other corporate purposes, with provisions allowing shareholders to apply for additional shares. The offer aligns with FY2026 solvency testing, and key dates for the offer fall within July 2026.
Key Points
  • Norwest Minerals Limited is conducting a non-renounceable entitlement offer.
  • The offer aims to raise approximately $1.89 million before costs.
  • Eligible shareholders can subscribe to 1 new share for every 4 shares held at $0.007 per share.
  • The offer is partly underwritten to around $1.26 million by Fortress Minerals Limited and Director Charles Schaus.
  • Directors and major shareholders have committed to taking up their entitlements totaling around $630,000.
  • Funds will be used for the Bulgera Heap Leach Scoping Study and general corporate purposes.
  • Shareholders can also apply for additional shares beyond their entitlement.
  • The offer is necessary for solvency testing for FY2026.
  • Key dates include announcement, opening, and closing of the offer in July 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.