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Noronex Ltd. ( (AU:NRX) ) has issued an announcement.
Noronex Limited has announced an expansion of its strategic alliance with South32, incorporating two new tenements in Botswana into their existing agreement. This development follows encouraging results from initial drilling at the Damara Copper Project in Namibia, which have highlighted the region’s potential for substantial copper discoveries. The partnership with South32 involves a significant financial commitment, with South32 funding exploration efforts and potentially acquiring a 60% stake in the Botswana tenements. This collaboration positions Noronex to leverage modern exploration techniques and pursue Tier-1 copper discoveries, enhancing its strategic positioning in the industry.
More about Noronex Ltd.
Noronex Limited is a company operating in the mining industry, primarily focused on copper exploration. It is engaged in exploring and developing copper projects, with a significant focus on the Kalahari Copper Belt region. The company has formed a strategic alliance with South32 to enhance its exploration capabilities.
Average Trading Volume: 681,903
Technical Sentiment Signal: Buy
Current Market Cap: A$8.38M
Find detailed analytics on NRX stock on TipRanks’ Stock Analysis page.