Recent Updates — CHWM

Chilwa Minerals Limited reported ICP-MS assay results for drill holes MPYDD009 and MPYDD015 at its Nakombe niobium and rare earths target in Malawi. Hole MPYDD009 returned 57 metres grading 0.315% Nb2O5 from surface, including a high-grade interval of 14 metres at 0.426%. The southern hole MPYDD015 confirmed mineralisation continuity with 22 metres at 0.243% Nb2O5 and elevated yttrium content. Three diamond rigs are currently drilling an infill program on the Southern Nakombe target, which is expected to support a maiden Mineral Resource Estimate in May or June 2027. The company operates as a critical minerals explorer focused on niobium, rare earths, tantalum, and gallium deposits in Malawi.

Chilwa Minerals Limited completed its initial public offering on the NASDAQ, issuing 625,000 American Depositary Shares (ADSs) priced at US$5.60 each to raise gross proceeds of US$3.5 million. The company subsequently partially exercised the underwriter's over-allotment option, purchasing an additional 56,834 ADSs for US$317,702, bringing total gross proceeds to approximately US$3.82 million (A$5.45 million). Net proceeds of roughly A$4.49 million were received in early October and used to settle accrued creditors. Trading under the ticker CHWM began on 1 October 2026. Chilwa Minerals Ltd is a critical minerals exploration company focused on heavy mineral sands, rare earths, and niobium projects in Malawi.

Maxim Group LLC, the sole underwriter of Chilwa Minerals' Nasdaq IPO, has partially exercised its over-allotment option to purchase an additional 56,834 American Depositary Shares (ADSs). The transaction was priced at US$5.59 per ADS and closed on October 16, 2026. This exercise adds approximately US$317,702 in gross proceeds, bringing the total gross proceeds from the US offering to approximately US$3.82 million. The funds will be used for mineral exploration activities, working capital, and general corporate purposes. Following this issuance, Chilwa has 104,922,682 fully paid ordinary shares on issue. Chilwa Minerals is an Australian mineral exploration company focused on the Chilwa Critical Minerals Project in Malawi.

Chilwa Minerals Limited priced and subsequently closed an underwritten public offering of American Depositary Shares (ADS) on the Nasdaq Capital Market, raising US$3.5 million in gross proceeds. The transaction involved the sale of 625,000 ADSs at $5.60 per share, with each ADS representing 10 ordinary shares. Accompanying warrants to purchase an equal number of ADSs were issued at an exercise price of $5.60 and expire five years after issuance. The underwriter partially exercised its over-allotment option for 92,000 additional warrants but did not purchase extra ADSs. Net proceeds will fund mineral exploration activities, working capital, and general corporate purposes. Chilwa Minerals Ltd is an Australian mineral exploration company focused on the Chilwa Critical Minerals Project in Malawi.