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An update from Norwest Minerals Ltd. ( (AU:NWM) ) is now available.
Norwest Minerals Ltd. has announced a non-renounceable entitlement offer to raise $4.85 million, with $3 million underwritten, to fund exploration and development at its Bulgera Gold projects. The company plans to use the proceeds to analyze mining options and conduct a drilling campaign targeting significant increases in its current gold resource estimate. With the gold price having doubled since the last resource estimate, Norwest aims to exploit the economic potential of its mineralized waste stockpiles and newly granted mining lease, thereby enhancing its project economics and stakeholder value.
More about Norwest Minerals Ltd.
Norwest Minerals Ltd. operates in the mining industry, focusing on gold exploration and development. The company is primarily engaged in advancing its Bulgera Gold projects in Western Australia, aiming to increase its gold resources and capitalize on rising gold prices.
YTD Price Performance: 20.0%
Average Trading Volume: 876,734
Technical Sentiment Signal: Buy
Current Market Cap: A$5.82M
Find detailed analytics on NWM stock on TipRanks’ Stock Analysis page.