American West Raises AU$7 Million at Premium to Advance West Desert Indium Project

American West Metals Limited (ASX: AW1) has secured firm commitments to raise AU$7 million through a share placement at AU$0.045 per share, representing an 18% premium to its 30-day VWAP. The raise attracted strong participation from institutional investors, including a AU$2 million strategic investment from Tribeca Investment Partners.

Funds will advance exploration at the company’s 100%-owned West Desert Project in Utah, which hosts America’s largest and highest-grade indium deposit, alongside significant zinc, copper, silver, and gold resources. The project is fully permitted for drilling and aligns with recent U.S. government initiatives to strengthen domestic critical minerals supply chains.

Managing Director Dave O’Neill said the support validates the project’s potential to underpin a U.S. indium supply chain and expand its multi-metal resource base amid surging demand for critical technology materials.

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