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Noronex Ltd.
(Sydney:NRX)
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Rating:45Neutral
Price Target:
AU$0.01
▲(30.00% Upside)
Action:Reiterated
Date:08/04/26
The score is held down primarily by weak financial performance—deep ongoing losses and persistent negative free cash flow that imply continued funding risk—partly offset by a debt-free balance sheet. Technicals are neutral to slightly weak with limited momentum, and valuation is constrained by negative earnings and no dividend support.
Positive Factors
Debt-free balance sheet
No reported debt materially lowers financial risk and increases strategic flexibility for an early-stage copper company. Without interest burdens the firm has more leeway to fund exploration or operations and can structure future raises without immediate leverage constraints.
Negative Factors
Persistent negative cash flow
Operating and free cash flow have been negative each year, with larger cash burn in 2025 versus 2024. Persistent negative cash generation compels ongoing external funding, constrains reinvestment, and elevates liquidity and dilution risk absent durable cash-flow turnaround.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
No reported debt materially lowers financial risk and increases strategic flexibility for an early-stage copper company. Without interest burdens the firm has more leeway to fund exploration or operations and can structure future raises without immediate leverage constraints.
Read all positive factors
Noronex Ltd. (NRX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$8.42M
Dividend YieldN/A
Average Volume (3M)900.67K
Price to Earnings (P/E)―
Beta (1Y)1.16
Revenue GrowthN/A
EPS Growth62.32%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryCopper
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding647,640,870
10 Day Avg. Volume1,065,145
30 Day Avg. Volume900,668
Financial Highlights & Ratios
PEG Ratio0.35
Price to Book (P/B)7.00
Price to Sales (P/S)18.09
P/FCF Ratio-1.81
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Noronex Ltd. Business Overview & Revenue Model
Company Description
Noronex Limited is primarily involved in the exploration of minerals. Their efforts specifically target the discovery of base metals, precious metals, and copper deposits. A key focus is the Witvlei project, situated in Namibia's Kalahari Copper B...
Noronex Ltd. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
52
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 124.59K | 368.16K | 40.68K | 0.00 | 0.00 | 0.00 |
| Gross Profit | 124.59K | 368.16K | 40.68K | 0.00 | 0.00 | 0.00 |
| EBITDA | -1.93M | -1.08M | -2.52M | 36.40K | 148.07K | 25.73K |
| Net Income | -1.43M | -3.13M | -2.51M | -3.35M | -5.55M | -2.15M |
Balance Sheet | ||||||
| Total Assets | 2.44M | 2.20M | 3.81M | 3.32M | 5.05M | 5.72M |
| Cash, Cash Equivalents and Short-Term Investments | 1.14M | 1.01M | 913.58K | 393.75K | 2.11M | 3.01M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 1.04M | 1.22M | 754.42K | 424.52K | 468.48K | 259.97K |
| Stockholders Equity | 1.37M | 951.15K | 3.02M | 2.85M | 4.36M | 5.11M |
Cash Flow | ||||||
| Free Cash Flow | -4.77M | -3.68M | -2.36M | -3.12M | -5.36M | -2.06M |
| Operating Cash Flow | -4.90M | -3.68M | -2.36M | -3.12M | -5.28M | -1.80M |
| Investing Cash Flow | 87.53K | -42.61K | 412.06K | 0.00 | -80.00K | -703.93K |
| Financing Cash Flow | 5.33M | 3.78M | 2.47M | 1.42M | 4.46M | 4.02M |
Noronex Ltd. Technical Analysis
Negative
0.01
Price Trends
0.01
Negative
0.01
Negative
0.01
Negative
Market Momentum
>-0.01
Negative
42.78
Neutral
-100.00
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:NRX, the sentiment is Negative. The current price of 0.01 is below the 20-day moving average (MA) of 0.01, below the 50-day MA of 0.01, and below the 200-day MA of 0.01, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 42.78 is Neutral, neither overbought nor oversold. The STOCH value of -100.00 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:NRX.
Noronex Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
51 Neutral | AU$289.04M | -8.33 | -14.19% | ― | ― | 78.60% | |
46 Neutral | AU$62.15M | -6.84 | -9.21% | ― | -100.00% | 98.64% | |
45 Neutral | AU$8.42M | -5.00 | -123.30% | ― | ― | 62.32% | |
44 Neutral | AU$339.86M | -31.97 | -3.91% | ― | ― | 17.44% | |
44 Neutral | AU$162.04M | -12.23 | -242.58% | ― | ― | -79.69% |
* Basic Materials Sector Average
AU:NRX
Noronex Ltd.
0.01
>-0.01
-7.14%
AU:HCH
Hot Chili Limited
1.68
1.00
147.06%
AU:NFM
Castillo Copper Ltd.
0.01
>-0.01
-23.08%
AU:CYM
Cyprium Metals Limited
0.47
0.16
53.59%
AU:CVV
Caravel Minerals Limited
0.28
0.13
90.48%
AU:TNC
True North Copper
0.38
0.03
10.29%
Noronex Ltd. Corporate Events
Noronex Acquires Advanced Alaska Tin-Tungsten-Silver Project
Jul 27, 2026
Noronex Ltd has announced the transformational acquisition of the Sleitat tin-tungsten-silver project in Alaska, adding an advanced North American critical minerals asset to its portfolio. The project is described as having exceptional upside, pot...
Noronex secures Alaskan tin project and advances African copper-uranium exploration
Jul 23, 2026
Noronex has agreed to acquire the high-grade Sleitat Tin-Tungsten-Silver Project in Alaska, one of the few large-scale tin projects in the U.S., adding a strategically significant critical minerals asset to its portfolio. Historical drilling at Sl...
Noronex Clears New Share Issue for Unrestricted Trading Under Corporations Act Exemption
Jul 15, 2026
Noronex Limited has issued 4,901,960 fully paid ordinary shares and has lodged an Appendix 2A notice, confirming that these new securities can be freely traded under the exemption provisions of section 708A(5) of the Corporations Act 2001. The com...
Noronex Seeks ASX Quotation for Nearly 4.9 Million New Shares
Jul 15, 2026
Noronex Ltd., traded on the ASX as NRX, is an Australian listed entity that manages its capital structure through the issuance of ordinary fully paid shares. The company operates under ASX Listing Rules, providing formal market disclosures related...
Noronex Plans New Share Issue to Raise Additional Equity
Jul 13, 2026
Noronex Ltd., listed on the ASX under the code NRX, has notified the market of a proposed issue of new ordinary fully paid shares. The disclosure comes via a standard Appendix 3B filing, indicating compliance with the ASX listing rules for new sec...
Noronex Plans New Options and Performance Rights Issue to Bolster Capital Structure
Jul 13, 2026
Noronex Limited has notified the ASX of a proposed issue of new securities, comprising 10 million unlisted options exercisable at $0.025 and expiring two years from issue, along with 20 million performance rights. The placement-style issue, schedu...
Noronex plans substantial multi-instrument equity raising
Jul 13, 2026
Noronex Limited has outlined plans for a new capital raising, proposing the issue of up to 196,818,182 ordinary fully paid shares, 19,200,000 unlisted options exercisable at $0.025 with a two-year term, and 12,000,000 performance rights. The secur...
Noronex moves into U.S. critical minerals with Alaskan tin acquisition
Jul 13, 2026
Noronex has secured an exclusive option to acquire 100% of Alaskan Critical Minerals Pty Ltd, which holds rights to the Sleitat Tin-Tungsten-Silver Project in Alaska, one of the only large-scale tin projects in the U.S. The Sleitat project hosts a...
Noronex Refines Kalahari Copper Targets as South32-Backed Exploration Advances
Jul 9, 2026
Noronex has completed the current exploration phase across its Namibian and Botswana tenements, reporting final assay results from a 7,112m RC drilling program at the Powerline Copper Project and initial scout drilling at the Cgae Cgae Copper Proj...
Noronex Shares Halted Ahead of Material Project Acquisition Announcement
Jul 8, 2026
Noronex Limited has requested and received a trading halt on its securities from the ASX, effective 9 July 2026. The halt follows a company request made under ASX Listing Rule 17.1 and is related to an impending announcement on a material project ...
Noronex alerts investors to August expiry of NRXO listed options
Jul 3, 2026
Noronex Limited has notified holders of its NRXO listed options that these securities, exercisable at $0.025 each, will expire at 5:00pm AWST on 7 August 2026. The company has circulated a formal reminder outlining the terms of exercise and the co...
Noronex Confirms Broad Uranium System in Maiden Drilling at Etango North
Jul 3, 2026
Noronex’s maiden reverse circulation drilling at the Etango North Uranium Project in Namibia has confirmed a broad uranium-bearing system within alaskite intrusions across the Oasis Dome and Springbok prospects. Laboratory assays show widesp...
Cumulus Wealth Exits Substantial Shareholding in Noronex
Jun 9, 2026
Noronex Limited has disclosed that Cumulus Wealth Pty Ltd has ceased to be a substantial shareholder in the company as of 5 June 2026, in line with Australian Corporations Act reporting requirements. The notice indicates that Cumulus Wealth’...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.