Norwest Minerals Ltd. (NWM) AI Stock Analysis

• Market Cap: AU$11.33M
• Dividend Yield: N/A
• Average Volume (3M): 3.18M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.72
• Revenue Growth: N/A
• EPS Growth: -28.57%
• Country: AU
• Employees: N/A
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): >-0.01
• Shares Outstanding: 1,030,106,900
• 10 Day Avg. Volume: 3,909,051
• 30 Day Avg. Volume: 3,177,120
• PEG Ratio: -0.13
• Price to Book (P/B): 0.19
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -1.85
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: AU$0.01 ▲(20.00% Upside)

The score is primarily constrained by weak financial performance (pre-revenue, widening losses, and ongoing negative free cash flow), partially mitigated by low balance-sheet leverage. Technicals are mixed with only modest price strength versus moving averages and negative MACD, while valuation is limited by loss-driven negative P/E and no dividend yield.

Positive Factors

Strategic Focus on Silver

The strategic focus on Dales Gossan amid rising silver prices positions Norwest to capitalize on strong industrial demand, enhancing its future resource development potential.

Low Balance-Sheet Leverage

Low leverage provides Norwest with financial flexibility and a buffer against operational risks, supporting long-term stability despite ongoing losses.

Gold Resource Expansion

Completion of drilling programs at key gold projects enhances Norwest's resource base, potentially increasing its market position and future revenue streams.

Negative Factors

Pre-Revenue Status

Being pre-revenue limits Norwest's ability to generate cash internally, making it reliant on external funding and vulnerable to market conditions.

Persistent Losses

Widening losses indicate increasing operational costs without revenue offsets, challenging profitability and long-term financial health.

Negative Cash Flow

Consistently negative cash flow suggests ongoing cash burn, necessitating external financing to sustain operations, which could be unsustainable long-term.

Norwest Minerals Ltd. Business Overview & Revenue Model

Company Description

Norwest Minerals Limited engages in the mineral exploration business in Australia. The company explores for gold, copper, nickel, rare earth elements, and lithium deposits. It holds a 100% interest in the Bulgera gold project covering an area of 39 square kilometers located in the Plutonic Well Greenstone Belt of Western Australia; the Marriott project consisting of a single mining lease that covers an area of approximately 400 meters square situated in southeast of Leinster; and the Bali copper project covering an area of 41 square kilometers with four prospects identified along the 8-kilometre northwest trending Bali shear zone located to the west of Paraburdoo in Western Australia. The company also holds an 83% interest in the Arunta West gold and copper project covering an area of 840 square kilometers located in Western Australia; and a 84% interest in the Marymia East project comprising two granted exploration tenements covering an area of approximately 230 square kilometers situated in east of the Plutonic Gold Mine. Norwest Minerals Limited was incorporated in 2017 and is headquartered in West Perth, Australia.

How the Company Makes Money

Norwest Minerals Ltd. generates revenue primarily through the exploration and development of mineral resources, particularly gold and base metals. As an exploration company, its primary revenue streams come from raising capital through equity offerings, joint ventures, or strategic partnerships with other mining companies. These funds are utilized to finance exploration activities, including drilling programs, geological surveys, and feasibility studies. Successful exploration can lead to the discovery of economically viable mineral deposits, which can then be developed into producing mines. Additionally, Norwest may enter into joint ventures or sell stakes in its projects to larger mining companies, generating income through these strategic partnerships. The company's earnings are significantly influenced by market demand for minerals, commodity prices, and the successful identification and advancement of resource projects.

Norwest Minerals Ltd. Financial Statement Overview

Summary

Norwest Minerals Ltd. faces significant challenges with no revenue growth and continuous losses. While the balance sheet suggests some stability due to low debt, the lack of profitability and negative cash flows highlight operational inefficiencies. The reliance on external financing to sustain operations poses a risk to long-term financial health.

Income Statement

Norwest Minerals Ltd. has consistently reported zero total revenue over the past years, indicating an inability to generate sales. The company has substantial negative net income and EBIT, reflecting ongoing operational challenges with no revenue growth. This highlights a lack of profitability and significant financial strain.

Balance Sheet

The balance sheet shows a strong equity base relative to total liabilities, with a low debt level, resulting in a solid equity ratio. However, the persistent negative net income affects return on equity negatively. Stability is present due to low leverage, but profitability remains a concern.

Cash Flow

Negative operating cash flows and free cash flow indicate cash burn and reliance on financing activities to support operations. The company shows a pattern of high capital expenditures exceeding its operating cash flow, leading to a weak free cash flow position over the years.

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

• Technical Analysis Sentiment: Negative
• Last Price: 0.01
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:NWM, the sentiment is Negative. The current price of 0.01 is below the 20-day moving average (MA) of 0.01, below the 50-day MA of 0.01, and below the 200-day MA of 0.01, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 45.76 is Neutral, neither overbought nor oversold. The STOCH value of >-0.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:NWM.

Norwest Minerals Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
GML	55 Neutral	AU$169.57M	12.26	8.62%	―	―	―
ZAG	54 Neutral	AU$41.71M	-11.84	-28.59%	―	―	-860.00%
SNG	45 Neutral	AU$29.10M	-2.66	-45.51%	―	―	―
NWM	44 Neutral	AU$11.33M	-3.33	-7.82%	―	―	-28.57%
FG1	40 Underperform	AU$15.52M	-1.80	-241.11%	―	―	48.90%
PNM	31 Underperform	AU$10.04M	-0.76	―	―	―	―

Norwest Minerals Ltd. Corporate Events

Norwest Advances Arunta West Strategy as Aileron Airborne Survey Wraps Up

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 Sharpens Focus on Dales Gossan Amid Silver Price Surge

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 Completes Key Drilling Programs at Marymia East and Bulgera Projects

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 Clarifies Drilling Updates and Advances Gold Exploration

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 Advances Gold Exploration at Marymia East and Bulgera Projects

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 Begins High-Impact Drilling at Marymia East and Bulgera Projects

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 Retracts Forward-Looking Statements and Updates Investor Presentation

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 Advances Gold Projects with Promising Drilling Results

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.

Norwest Minerals Ltd Announces Strategic Corporate Update

Norwest Minerals Ltd has provided a corporate update on its various projects, including the Bulgera and Marymia East Gold Projects and the Arunta West Critical Minerals. The company highlights the significant potential for growth in its market capitalization due to its excellent project portfolio, which includes gold, base metals, and critical minerals. This update underscores Norwest’s strategic positioning in the mineral exploration industry and its commitment to leveraging its diverse resource base for future growth.

Norwest Minerals to Hold Virtual Annual General Meeting

Norwest Minerals Ltd. has announced its Annual General Meeting (AGM) scheduled for November 17, 2025, which will be held virtually to allow broader shareholder participation. Shareholders are encouraged to submit questions in advance and vote via proxy, with the meeting featuring online polling and Q&A facilities, enhancing engagement and decision-making processes.

Norwest Minerals Schedules AGM with Key Resolutions on Agenda

Norwest Minerals Ltd. has announced its upcoming Annual General Meeting scheduled for November 17, 2025, to be held via videoconference. Key resolutions include the adoption of the Remuneration Report, re-election of directors, and approval of an additional 10% placement capacity. These resolutions aim to align executive compensation with shareholder interests, ensure continuity in leadership, and provide the company with greater flexibility in capital raising, potentially impacting its strategic growth and shareholder value.