Australia's Norwest Minerals jumps most in 1 week on premium placement

Norwest Minerals

06/06/2023 03:46

** Shares of Norwest Minerals Ltd  NWM.AX  jump as much as
11.1% to A$0.030, their biggest intraday pct gain since May 29
    ** The mineral explorer says it has completed a placement to
raise A$1 mln ($661,700.00)
    ** Issue price of A$0.033 per share is at a 22.2% premium to
last close on June 5
    ** Says funds raised will be used to collect drill samples
from co's Arunta West Project
    ** Shares hit their highest level since May 30 
    ** About 1.6 mln shares exchange hands vs the 30-day average
of 380,966 shares
    ** NWM stock down 50% YTD, as of last close 
    
   ($1 = 1.5113 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))