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Noronex Ltd. ( (AU:NRX) ) has issued an update.
Noronex Limited has announced the progression of the sale of its non-core Witvlei Project in Namibia, receiving a non-refundable deposit of A$200,000 from Joint Era Mining Co., Limited. This transaction, valued at A$4.5 million, allows Noronex to focus on its extensive copper portfolio, including projects in collaboration with South32. The sale is part of Noronex’s strategy to concentrate on its core assets, potentially enhancing its industry positioning and resource management.
More about Noronex Ltd.
Noronex Limited is an ASX-listed copper explorer with advanced projects in the Kalahari Copper Belt, spanning Namibia and Botswana, and in Ontario, Canada. The company has a JORC 2012 Resource of 10Mt @ 1.3% Cu at its Witvlei and Dordabis Projects in Namibia. Noronex has a Strategic Alliance Agreement with South32 and Earn-in Agreements allowing South32 to acquire a significant interest in Noronex’s projects by funding exploration. The company also has exposure to a uranium tenement in Namibia.
Average Trading Volume: 937,119
Technical Sentiment Signal: Sell
Current Market Cap: A$8.74M
See more data about NRX stock on TipRanks’ Stock Analysis page.