Low Leverage / Strong Equity BaseVery low debt relative to a sizable equity base gives Norwest durable financial flexibility to fund exploration cycles, absorb setbacks, and negotiate JV or offtake terms without heavy interest burdens. This lowers solvency risk during multi-year resource development timelines.
Material Asset And Equity GrowthSustained growth in assets and equity since 2020 indicates successful capital raises and balance-sheet strengthening, supporting multi-stage exploration programs. A larger capital base improves ability to finance drilling, attract partners, and pursue longer-term value creation without immediate revenue.
Improving Free Cash Flow TrendA year-over-year improvement in free cash flow, even while negative, signals progress in managing spend and investment pacing. If sustained, this reduces near-term external funding needs, lengthens runway for project evaluation and helps transition toward eventual project development stages.