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Norwest Minerals Limited (ASX:NWM)

ALERT: Price-sensitive ASX Announcement for NWM
Current share price for NWM : $0.007 0 (0%)+
Announcement
Release
22 Jul 2026 10:12AM
Price at Release
$0.007
Full Release
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Summary
Norwest Minerals Limited reported on their activities for the quarter ended 30 June 2026, focusing on the Bulgera Gold Project and other exploration areas. Key developments included advanced geostatistical evaluations and successful metallurgical tests for gold recovery at Bulgera. The company has been conducting rigorous Kriging algorithms and block modelling to estimate gold grades and resource confidence levels. Economic evaluations assumed a gold price of A$5,000/oz and included pit optimization aligned with industry standards. Norwest managed a net cash outflow of $370,000, with cash reserves at $394,000 by the quarter's end. Development activities incurred costs of approximately $167,000, primarily involving modelling and testing processes for the Bulgera gold resources. The company has an 'At-The-Market' equity facility of up to $3 million to support its financial strategy but has not utilized it yet. Exploration activities have been ongoing, with a focus on optimizing resource estimates and advancing metallurgical studies.
Key Points
  • Quarterly report for the period ending 30 June 2026.
  • Developments in the Bulgera Gold Project with emphasis on resource estimation and metallurgical testing.
  • Geostatistical reviews conducted using Kriging algorithms for resource confidence.
  • Economic assumptions based on A$5,000/oz gold price.
  • Total cash outflow of $370,000 with cash reserves of $394,000 at the end of the quarter.
  • Costs incurred included $167,000 for development activities.
  • Equity-based ‘At-The-Market’ facility established with a limit of $3 million.
  • No new fieldwork reported for Arunta West and Bali Copper Projects during the quarter.
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.