NORWEST MINERALS LIMITED
ASX:NWMMaterialsToday’s holders own 68.1% of what they think they own, once every option and right converts.
Share count grew 179% in 24 months; 4 cash raises in 24 months; options/rights overhang 47% of shares
Between July 2024 and August 2026, its latest share-count filing, NORWEST MINERALS LIMITED's ordinary share count grew 178.7% to 1.35B shares. The company raised capital four times in the past 24 months for total proceeds of A$12.6M, most recently a A$1.9M Entitlement Offer in July 2026. Options and rights on issue could convert into 633M new shares, representing 46.8% of the current share count, none of which are in the money; the nearest expiry is September 2027. The company has more than 4 quarters of funding at the recent spend rate. No proposed securities issues are currently pending.
Quick answers · 5
When did NWM last raise capital?
The last capital raise in Norwest Minerals's filings is Entitlement Offer of $1.9M announced 10 July 2026, one of 4 cash raises in 24 months.
How much placement capacity does NWM have left?
None of the 15% placement capacity counted as used in the last 12 months (estimate). Under ASX Listing Rule 7.1 a company may place up to 15% of its shares in 12 months without shareholder approval.
How much cash does NWM have?
In its quarterly cash report for the quarter ended 30 June 2026, Norwest Minerals reported $394k of cash and estimated 1.1 quarters of funding available at its current rate of spending. That is the company's own estimate.
When do NWM's options expire?
Unexercised options and rights equal 46.8% of Norwest Minerals's shares on issue; the nearest expiry is Sept 2027.
How much has NWM's share count grown?
Norwest Minerals has 1.35B shares on issue as at 28 Oct 2026, up 178.7% over 24 months according to its Appendix 2A filings.
Shares on issue — last 2 years
Cash runway
Issuance timeline
Latest 5 filings (Appendix 2AThe form a company lodges to have new securities quoted on the ASX. It restates how many of each class are on issue. quoted issues, 3G unquoted, 3H cancellations)
| Date | Form | Security | On issue, per this filing | Source |
|---|---|---|---|---|
| 11 Aug 2026 | 2A · quoted issue | NWM : ORDINARY FULLY PAID | 1.35B | Appendix 2A |
| 6 Aug 2026 | 2A · quoted issue | NWM : ORDINARY FULLY PAID | 1.19B | Appendix 2A |
| 20 Jan 2026 | 2A · quoted issue | NWM : ORDINARY FULLY PAID | 1.08B | Appendix 2A |
| 26 Nov 2025 | 3H · cancellation | NWM : ORDINARY FULLY PAID | 1.03B | Appendix 3H |
| 6 Aug 2025 | 2A · quoted issue | NWM : ORDINARY FULLY PAID | 968.4M | Appendix 2A |
Securities on issue over time
Ordinary shares and every option and rights class, month by month over two years. The top edge is the fully diluted count.
Capital raises
4 cash raises in the last 24 months · 1 in the last 12 months
Forward supply
Every dated event on record that could add securities to the register — option expiries to their stated dates and proposed issues over the next 18 months, on one timeline.
Placement capacity
How much stock a company can place without asking holders. Listing Rule 7.1 / 7.1ARule 7.1 lets a company issue up to 15% of its shares in 12 months without a shareholder vote. Rule 7.1A adds 10% for smaller companies whose holders approve it. allows 15% of ordinary securities in any 12 months, and every Appendix 3BNotice that a company proposes to issue new securities, such as a placement. The securities are not on issue until a later filing confirms it. states how much of it an issue uses.
Pending proposed issues
Options & convertible securities
An exercise price is on record for only 20.9% of this supply, so what is in the money today is not a measurement — the tile above reads “—” for that reason. Of the priced supply, 0 is in the money at $0.007 today. No more priced supply until 5× today’s price, which takes it to 40.0M (3.0% of shares).
- Priced supply in the money at the price on the axis — the curve, and the only thing on it. Ten prices, sampled: between two of them the true figure lies between the two.
- 500.9M (79.1% of the supply above) states no exercise price at all. It cannot be called in or out of the money at any price, which is why it is hatched rather than plotted.
- 92.4M more carries an exercise price above ten times today’s — off the right of this axis, and in every total on this page.
| Code | Security | Type | Exercise price | Expiry | On issue | Source |
|---|---|---|---|---|---|---|
| NWMAQ | Options | Price-triggered | $0.070 | 20 Sept 2027 | 73.5M | Filing |
| NWMAO | Options | Price-triggered | $0.070 | 27 Mar 2028 | 13.9M | Filing |
| NWMOB | Options | Price-triggered, no exercise price stated | — | 26 May 2028 | 500.9M | Filing |
| NWMAP | Options | Price-triggered | $0.070 | 4 Aug 2028 | 5.0M | Filing |
| NWMAS | Options | Price-triggered | $0.030 | 5 Aug 2030 | 40.0M | Filing |
“Nil” is a stated nil exercise price: nothing is paid to convert. An em dash means the filing names no exercise price at all. Security is read from the filing’s own class description; an em dash there means the description is not one this table labels. One row is one security class, at the number stated in the most recent quotation application that restated it — linked, and dated, in the last column. For what expires soon across other listed companies, see the options expiry calendar.
Director dealings
| Date | Director | Type | Shares | Options | Other | Value | Source |
|---|---|---|---|---|---|---|---|
| 6 Aug 2026 | C H Loong | Other entitlement/SPP | 8.6M | — | — | — | 3Y notice |
| 6 Aug 2026 | C Schaus | Other entitlement/SPP | 1.7M | — | — | — | 3Y notice |
| 6 Aug 2026 | K H Leong | Other entitlement/SPP | 81.1M | — | — | — | 3Y notice |
| 6 Aug 2026 | Oliver Carton | Other entitlement/SPP | 223k | — | — | — | 3Y notice |
| 6 Aug 2026 | Sia Hok Kiang | Other entitlement/SPP | 10.7M | — | — | — | 3Y notice |
| 6 Aug 2026 | Yew Fei Chee | Other entitlement/SPP | 185.0M | — | — | — | 3Y notice |
Ownership
Latest announcements
Headlines link to the source PDFs on the ASX announcements platform. Data as of 28 Oct 2026.