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Norwest Minerals Ltd.
(Sydney:NWM)
Norwest Minerals Ltd. (NWM) vs. iShares MSCI Australia ETF (EWA)
Norwest Minerals Ltd. Business Overview & Revenue Model
Norwest Minerals Ltd. Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 86.76K |
| Gross Profit | 0.00 | 0.00 | 0.00 | -2.54K | -7.71K | 55.97K |
| EBITDA | -1.36M | -1.36M | -1.04M | -1.29M | -1.47M | -1.66M |
| Net Income | -1.83M | -1.83M | -1.04M | -1.29M | -1.47M | -1.69M |
Balance Sheet | ||||||
| Total Assets | 27.14M | 27.14M | 21.75M | 19.85M | 16.69M | 13.25M |
| Cash, Cash Equivalents and Short-Term Investments | 4.23M | 4.23M | 244.71K | 1.01M | 1.58M | 1.09M |
| Total Debt | 422.46K | 422.46K | 375.00K | 0.00 | 0.00 | 21.79K |
| Total Liabilities | 940.49K | 940.49K | 994.20K | 659.46K | 499.28K | 794.42K |
| Stockholders Equity | 26.20M | 26.20M | 20.76M | 19.19M | 16.19M | 12.46M |
Cash Flow | ||||||
| Free Cash Flow | -2.76M | -2.76M | -3.20M | -4.62M | -4.20M | -2.98M |
| Operating Cash Flow | -823.53K | -823.53K | -998.55K | -949.99K | -851.12K | -643.74K |
| Investing Cash Flow | -2.15M | -2.15M | -2.22M | -3.67M | -3.35M | -2.12M |
| Financing Cash Flow | 6.96M | 6.96M | 2.45M | 4.05M | 4.68M | 2.33M |
Norwest Minerals Ltd. Technical Analysis
Norwest Minerals Ltd. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
55 Neutral | AU$174.21M | 11.77 | 8.62% | ― | ― | ― | |
54 Neutral | AU$50.05M | -14.21 | -28.59% | ― | ― | -860.00% | |
52 Neutral | AU$37.50M | -3.22 | -45.51% | ― | ― | ― | |
47 Neutral | AU$27.04M | -6.67 | -7.82% | ― | ― | -28.57% | |
43 Neutral | AU$14.61M | -1.65 | -241.11% | ― | ― | 48.90% |
Norwest Minerals Ltd. Corporate Events
Norwest Minerals has issued a cleansing notice confirming it will proceed with the issue of fully paid ordinary shares and/or options as outlined in an Appendix 2A lodged with the ASX on 20 January 2026. The company states that these securities are being issued without a prospectus under the Corporations Act’s disclosure exemptions, and affirms it has met all ongoing reporting obligations and has no undisclosed price-sensitive information, providing regulatory assurance to investors regarding the capital raising process.
The most recent analyst rating on (AU:NWM) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Norwest Minerals Ltd. stock, see the AU:NWM Stock Forecast page.
Norwest Minerals Limited has applied to the ASX for quotation of 51,402,000 new ordinary fully paid shares issued under its At the Market facility on 20 January 2026. The substantial new share issuance expands the company’s free float and access to equity capital, potentially strengthening its funding position for ongoing operations and exploration activities while diluting existing shareholders’ stakes.
The most recent analyst rating on (AU:NWM) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Norwest Minerals Ltd. stock, see the AU:NWM Stock Forecast page.
Norwest Minerals has entered into an At-The-Market Subscription Agreement with Dolphin Corporate Investments, securing access to up to $3 million in standby equity capital over three years via a flexible, low-cost facility that it can use entirely at its discretion. The structure allows Norwest to control the timing, volume and pricing floor of any share issues, imposes no obligation to draw on the facility or exclusivity on other capital-raising methods, and is designed to minimise dilution for existing shareholders, with security shares capable of being bought back upon early termination or maturity subject to approval. Management says the arrangement strengthens the company’s funding toolkit to support key activities such as the Bulgera heap leach study and ongoing operating costs, reinforcing its capacity to advance project development and potentially enhance shareholder value without committing to a traditional equity placement.
The most recent analyst rating on (AU:NWM) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Norwest Minerals Ltd. stock, see the AU:NWM Stock Forecast page.
Norwest Minerals reported its quarterly cash flow for the period ended 31 December 2025, showing no receipts from customers and a net operating cash outflow of A$216,000, largely driven by staff and corporate administration costs. The company invested A$1.008 million in exploration and evaluation during the quarter, bringing total exploration spend for the year to date to A$2.115 million and resulting in a net decrease in cash, with cash and equivalents falling from A$2.866 million at the beginning of the quarter, as the company continued to fund its exploration programs without new financing inflows or borrowings, underscoring its reliance on existing cash reserves to progress projects.
The most recent analyst rating on (AU:NWM) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Norwest Minerals Ltd. stock, see the AU:NWM Stock Forecast page.
Norwest Minerals reported an active December 2025 quarter marked by intensive drilling across its Western Australian gold portfolio and a strategic upgrade of its Dales Gossan silver-base metals discovery. At its flagship Bulgera Gold Project, the company completed a Phase 2 reverse circulation drilling campaign targeting down-dip extensions of existing mineralisation, alongside a large-diameter diamond program to generate metallurgical samples for heap leach amenability and recovery testing, with results to feed into an updated mineral resource estimate due in early 2026. Nearby at the Marymia East Gold Project, Norwest completed a five-hole RC program and a diamond core tail at the Shiraz prospect to follow up a high-grade historical intercept, with assays expected in early 2026, positioning the area as potential high-grade satellite feed for Bulgera. In the Arunta West Project, the company elevated the Dales Gossan silver-base metals prospect to high-priority status in response to sharply higher silver prices and secured high-resolution magnetic and radiometric data from a government-funded airborne survey, which will be used to map structures along the Sandman Fault and search for repeats of the Dales Gossan mineralised system. Collectively, these activities underline Norwest’s efforts to grow its resource base, de-risk a low-cost gold development at Bulgera, and capture upside from rising silver markets, which could strengthen its project pipeline and future development options.
The most recent analyst rating on (AU:NWM) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Norwest Minerals Ltd. stock, see the AU:NWM Stock Forecast page.
Norwest Minerals has confirmed the completion of the GSWA Aileron 2025 airborne magnetic and radiometric survey over its 1,400km² Arunta West project area, marking a significant milestone in its regional silver base-metals targeting strategy. The survey, which concluded on 15 December 2025, is now in the data processing and verification phase under specialist geophysical consultants, with final processed datasets expected to be released in the first quarter of 2026, after which Norwest plans further analysis and market updates. This high‑resolution geophysical work is expected to refine exploration targets around the Dales Gossan prospect, where earlier RC drilling intersected wide zones of silver, copper, and lead‑zinc mineralisation within a fault breccia associated with a potential VMS-style system that remains open at depth, underscoring the project’s growth potential for investors and other stakeholders.
Norwest Minerals Limited has announced a strategic focus on its Dales Gossan discovery at the West Arunta Project, driven by a significant rise in global silver prices, which have doubled since the company’s initial discovery announcement in December 2024. The Dales Gossan prospect, characterized by wide zones of silver-copper-lead-zinc mineralization, is now a high-priority exploration target for 2026, with plans to leverage new survey data to identify further mineralized structures. This strategic shift is bolstered by the silver market’s strong industrial demand and supply deficit, enhancing the economic potential of the prospect and positioning it as a key asset for future resource development.
Norwest Minerals Ltd. has completed its exploration drilling programs at the Marymia East and Bulgera Gold Projects. The company has delivered all samples for gold assay analysis, with results expected in the coming weeks. At Marymia East, the drilling aimed to explore potential high-grade gold mineralization, while at Bulgera, the focus was on expanding the mineral resource estimate and assessing the feasibility of a heap leach operation. The completion of these programs marks a significant step in Norwest’s efforts to enhance its gold resource base and explore cost-effective extraction methods, potentially impacting its operational strategy and market positioning.
Norwest Minerals Limited has clarified a previous announcement regarding the Marymia East RC and Bulgera drilling updates, providing the necessary JORC Table 1 information for the 1996 Marymia East diamond drilling results. The company has completed a five-hole RC drilling program at Marymia East, with assay results expected next month, and has commenced further RC drilling at Bulgera to expand the existing 288k ounce gold resource. Additionally, diamond core samples from Bulgera are being prepared for heap leach testwork to assess economic viability, indicating a strategic focus on resource expansion and economic evaluation.
Norwest Minerals Limited has completed a five-hole Reverse Circulation (RC) drilling program at its Marymia East Gold project, targeting areas around a historical high-grade gold intersection. Assay results are expected next month. Concurrently, the company has commenced a second phase of RC drilling at the Bulgera Gold project, aiming to expand the current 288k ounce gold resource. Additionally, diamond core samples from Bulgera are being prepared for heap leach testwork to evaluate the economic viability of near-surface gold mineralization. These efforts are part of Norwest’s strategy to enhance its gold resource base and assess project viability, with results anticipated in the coming months.
Norwest Minerals Limited has commenced reverse circulation drilling at its Marymia East Gold project to explore high-grade gold intersections identified in previous drilling. The company is also advancing its Bulgera project with further drilling to expand its gold resource and conducting heap leach test work, which could accelerate cash flow opportunities. These efforts are part of Norwest’s strategy to enhance exploration impact, grow resources, and potentially increase near-term revenue.
Norwest Minerals Ltd. has retracted certain forward-looking statements from its recent investor presentation due to a lack of reasonable basis under ASX Listing Rules. The company advises investors not to rely on these statements for investment decisions and will update once further work is completed. Additionally, a revised presentation has been issued to include missing mineral resource estimate details for the Bulgera project.
Norwest Minerals Limited reported significant progress in its Bulgera Gold Project with the completion of Phase 1 Reverse Circulation drilling, confirming continued gold mineralization at depth. The company is also optimistic about the economic potential of the proposed Bugera heap leach project, with positive preliminary cashflow models. Additionally, Norwest plans to drill-test historical gold targets at the Marymia East Project and is awaiting results from a government-sponsored geophysical study that could impact its West Arunta tenure.