The new funding includes a flow-through component from Canadian investors of $6.7 million at 19.2c and an institutional placement of $1 million at 14c.

The recent indications of the Nunavut-located Storm having large scale, sediment-hosted copper potential has seen a significant turnaround in American West's market fortunes.

The company's shares were trading around 5c for much of 2023 up until early June, with recent levels being around the 15c mark.

The $3 million fundraising in late June was priced at 9.5c per new share.

Results from Storm reported earlier this month were headlined by 15.3m at 1.6% copper from 59.4m, with mineralisation in the "4100N Zone … now over 1.3km long, 300m wide and open laterally in every direction".

The Dave O'Neill-led American West said 4100N Zone "has grown into a significant copper story".

In early July, diamond core drilling was flagged as flagged as "starting shortly".

Shares in American West were unchanged at 16c in morning trade, capitalising the company at $57 million.