Chilwa Minerals (CHWM) reported laboratory assays confirming 57 meters at 0.315% niobium pentoxide from surface at its Nakombe target in Malawi. That interval in MPYDD009 included 14 meters at 0.426%; the hole averaged 0.192%. MPYDD015 returned 22 meters at 0.243% from 349.5 meters. The opposing holes confirm mineralization across approximately 270 meters of strike.
MPYDD009 averaged 1,415 parts per million total rare earth oxides (TREO). MPYDD015's final 12.5 meters returned 1,855 ppm TREO, with yttrium oxide representing 24.5% of TREO. Laboratory niobium grades exceeded earlier portable X-ray readings in both holes. Mineralization remains open at depth, east and north. Three rigs are active, and Chilwa targets completion of six infill holes before year-end 2026. A maiden Mineral Resource Estimate is provisionally targeted for May to June 2027.
Chilwa Minerals (CHWM) closed its underwritten public offering, raising US$3.5 million in gross proceeds before underwriter discounts and offering expenses. The offering comprised 625,000 American Depositary Shares (ADSs) and warrants to purchase 625,000 ADSs, priced at US$5.60 per ADS and accompanying warrant. Each ADS represents 10 ordinary shares.
The warrants are immediately exercisable at US$5.60 per ADS and expire on the fifth anniversary of issuance. Chilwa also granted the underwriter a 45-day option for up to 92,000 additional ADSs and/or 92,000 additional warrants; 92,000 warrants were purchased through partial exercise. The ADSs began trading on the Nasdaq Capital Market on October 1, 2026. Chilwa intends to use net proceeds for mineral exploration, working capital and general corporate purposes.
Chilwa Minerals (CHWM) priced an underwritten public offering expected to generate US$3.5 million in gross proceeds before discounts and expenses.
The offering includes 625,000 American Depositary Shares (ADSs) and warrants to purchase 625,000 ADSs, priced at US$5.60 per ADS and accompanying warrant. Each ADS represents 10 ordinary shares. The warrants have an exercise price of US$5.60 per ADS. Chilwa expects ADS trading on the Nasdaq Capital Market to begin October 1, 2026, and closing on or about October 2, 2026, New York time. Ordinary shares continue trading on the ASX. The underwriter has a 45-day option to purchase up to 92,000 additional ADSs and/or 92,000 additional warrants. Chilwa intends to use net proceeds for mineral exploration, working capital and general corporate purposes.