NWM.AX down 16.67% pre-market on ASX 10 Jan 2026: Watch liquidity

We see Norwest Minerals Limited (NWM.AX) trade at A$0.01 pre-market on the ASX on 10 Jan 2026, down 16.67% from yesterday. The drop follows heavy intraday turnover of 2,776,687 shares and leaves the tiny-cap miner with a market cap of A$12.36 million. This article reviews the immediate drivers behind the sell-off, places the move in a Basic Materials sector context, and highlights short-term liquidity and valuation risks for investors watching NWM.AX stock.