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Noronex Ltd.
(Sydney:NRX)
Noronex Ltd. (NRX) vs. iShares MSCI Australia ETF (EWA)
Noronex Ltd. Business Overview & Revenue Model
Noronex Ltd. Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 368.16K | 368.16K | 40.68K | 0.00 | 0.00 | 0.00 |
| Gross Profit | 368.16K | 368.16K | 40.68K | 0.00 | 0.00 | 0.00 |
| EBITDA | -1.08M | -1.08M | -2.52M | 36.40K | 148.07K | 25.73K |
| Net Income | -3.13M | -3.13M | -2.51M | -3.35M | -5.55M | -2.15M |
Balance Sheet | ||||||
| Total Assets | 2.20M | 2.20M | 3.81M | 3.32M | 5.05M | 5.72M |
| Cash, Cash Equivalents and Short-Term Investments | 1.01M | 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 | 1.22M | 1.22M | 754.42K | 424.52K | 468.48K | 259.97K |
| Stockholders Equity | 951.15K | 951.15K | 3.02M | 2.85M | 4.36M | 5.11M |
Cash Flow | ||||||
| Free Cash Flow | -3.68M | -3.68M | -2.36M | -3.12M | -5.36M | -2.06M |
| Operating Cash Flow | -3.68M | -3.68M | -2.36M | -3.12M | -5.28M | -1.80M |
| Investing Cash Flow | -42.61K | -42.61K | 412.06K | 0.00 | -80.00K | -703.93K |
| Financing Cash Flow | 3.78M | 3.78M | 2.47M | 1.42M | 4.46M | 4.02M |
Noronex Ltd. Technical Analysis
Noronex Ltd. Peers Comparison
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% | |
50 Neutral | AU$278.07M | -3.63 | ― | ― | ― | ― | |
50 Neutral | AU$6.17M | -1.14 | -25.55% | ― | ― | -34.62% | |
49 Neutral | €251.44M | -32.61 | -73.21% | ― | ― | -11.29% | |
49 Neutral | AU$203.86M | -1.38 | ― | ― | -57.00% | -1789.13% | |
48 Neutral | AU$9.37M | -2.46 | -157.73% | ― | ― | 6.15% |
Noronex Ltd. Corporate Events
Noronex has commenced its maiden reverse circulation drilling program at the Etango North Uranium Project in Namibia, marking the company’s first uranium-focused drilling campaign in the country. The program, carried out by Namibian contractor Ferrodrill, will test multiple high-priority subsurface uranium targets defined by ground spectrometry, remote sensing, and field mapping, including U/Th anomalies and interpreted extensions of alaskite-hosted mineralisation in structurally favourable settings typical of the central Namibian hard-rock uranium district. Success at Etango North could strengthen Noronex’s position in a world-class uranium province and complement its ongoing copper exploration activities in Namibia and Botswana, potentially broadening its resource base and strategic appeal to investors exposed to the energy-transition metals space.
The most recent analyst rating on (AU:NRX) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Noronex Ltd. stock, see the AU:NRX Stock Forecast page.
Noronex has appointed a drilling contractor for its maiden reverse-circulation drilling program at the Etango North Uranium Project in Namibia, with work expected to begin shortly. The campaign will test multiple high-priority uranium and thorium anomalies and alaskite extensions defined by a 2025 ground spectrometry survey, supported by recent remote sensing and lithostratigraphic interpretation that have refined the geological model and highlighted favourable domal and structural settings for alaskite-hosted uranium. Etango North, where Noronex can earn up to an 80% interest, lies immediately along strike from Bannerman’s large Etango development and close to the Rossing and Husab mines, underscoring the project’s potential significance. Management describes the program as a key milestone that could deliver a greenfields uranium discovery while the company continues to progress its broader copper exploration portfolio in Namibia and Botswana, potentially enhancing its growth profile in the African energy metals sector.
The most recent analyst rating on (AU:NRX) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Noronex Ltd. stock, see the AU:NRX Stock Forecast page.
Noronex has reported further encouraging assay results from its ongoing 7,000m RC drilling program at the Powerline Copper Project in Eastern Namibia, where approximately 5,300m across 23 holes have now been completed at the Steenbok, Qembo and Zambinda domes. New copper-silver intercepts at the Qembo and Steenbok targets, including up to 4m at 0.58% copper and 69g/t silver and 9m at 0.24% copper and 29g/t silver, confirm mineralisation along the key D’Kar-NPF contact and demonstrate continuity with earlier results, strengthening the project’s structural and stratigraphic model. With drilling now shifted east to test the Zambinda Dome and all work funded by South32 under the earn-in arrangement, the results validate Noronex’s targeting strategy and enhance the exploration potential of its ground in the Kalahari Copper Belt amid strong copper and silver prices.
The most recent analyst rating on (AU:NRX) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Noronex Ltd. stock, see the AU:NRX Stock Forecast page.
Noronex reported a highly active December 2025 quarter marked by major reverse circulation drill programs at its Powerline Copper Project in Namibia and under a new earn-in agreement with South32 at Cgae Cgae in Botswana, where early results at Powerline, including a 9m intercept grading 0.45% copper and 43g/t silver, validate its geological targeting strategy. The company also moved to streamline its portfolio and strengthen its balance sheet by agreeing to sell its non-core Witvlei asset for A$4.5 million in staged payments and completing a A$750,000 strategic placement, with proceeds earmarked to fund a maiden drilling campaign at the Etango North Uranium Project scheduled to start in February 2026, underpinning a broader push to unlock value from its extensive Kalahari Copper Belt and Namibian uranium holdings.
The most recent analyst rating on (AU:NRX) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Noronex Ltd. stock, see the AU:NRX Stock Forecast page.
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.
Noronex Limited has announced a change in the director’s interest notice, specifically regarding Robert Klug’s holdings. Mr. Klug has acquired 5,000,000 unquoted options exercisable at $0.025 each on or before October 1, 2027, increasing his total holdings to include these new options. This change reflects the issuance of incentive options as part of a previously noted meeting, potentially impacting the company’s leadership incentives and aligning director interests with company performance.
Noronex Limited has announced a change in the interests of its director, Piers Lewis, involving the acquisition of 5,000,000 unquoted options exercisable at $0.025 each on or before October 1, 2027. This issuance of incentive options, as referenced in the Notice of Meeting dated October 10, 2025, reflects a strategic move to potentially enhance the director’s stake in the company, which could influence the company’s governance and decision-making processes.
Noronex Limited has announced a change in the interests of its director, David Prentice, involving the acquisition of 5,000,000 unquoted options. These options are exercisable at $0.025 each and are set to expire on 1 October 2027. This change reflects an issuance of incentive options as per the Notice of Meeting dated 10 October 2025, indicating a strategic move to align the director’s interests with the company’s long-term goals.
Noronex Limited has announced the issuance of 5,333,333 fully paid ordinary shares, which are exempt from the on-sale restrictions under the Corporations Act 2001. This move is part of the company’s compliance with regulatory requirements, ensuring transparency and maintaining its obligations under the Act. The announcement indicates that there is no undisclosed information that would impact investors’ assessments of the company’s financial position or the rights attached to the shares.
Noronex Limited has announced the issuance of 15 million unquoted options, set to expire on October 1, 2027, at an exercise price of $0.025. This issuance, part of an employee incentive scheme, is intended to enhance employee engagement and align their interests with the company’s growth objectives, potentially impacting the company’s operational dynamics and stakeholder interests.
Noronex Limited has announced the issuance of 3,000,000 performance rights and 3,000,000 options as part of an employee incentive scheme. This move is aimed at motivating and retaining key personnel, potentially strengthening the company’s operational capabilities and aligning employee interests with shareholder objectives.
Noronex Limited has announced the issuance of 500,000 ordinary fully paid shares on November 28, 2025, for investor relations and public relations services. This move is part of their strategic efforts to enhance market visibility and engagement, potentially impacting their stakeholder relationships and market positioning.
Noronex Limited has announced the issuance of 500,000 ordinary fully paid shares on November 28, 2025, as part of an agreement for IR/PR services. This move signifies a strategic effort by Noronex to enhance its investor relations and public relations capabilities, potentially impacting its market presence and stakeholder engagement.
Noronex Limited has announced the issuance of 3,000,000 fully paid ordinary securities, which are set to be quoted on the Australian Securities Exchange (ASX) under the code NRX. This move is part of the company’s strategy to enhance its capital structure and potentially increase its market presence, offering stakeholders an opportunity to invest in its growth trajectory.
Noronex Limited has announced promising initial assay results from its ongoing 7,000-meter Reverse Circulation drilling program at the Powerline Copper Project in Namibia. The drilling, funded through an agreement with South32, has identified a significant zone of copper-silver mineralization, validating the company’s geological model and exploration strategy. The project aims to explore the D’Kar-NPF contact horizon, with further drilling planned to assess the potential extensions of the mineralized zone. These findings are expected to enhance Noronex’s position in the copper mining sector and provide valuable insights for future exploration efforts.
Noronex Limited has announced a proposed issue of 20,000,000 unlisted options, exercisable at $0.024 and expiring 24 months from the issue date. This move is part of a placement or other type of issue, with the proposed issue date set for December 24, 2025. The announcement may impact the company’s financial structure and market positioning by potentially increasing its capital base and providing additional resources for its operations.
Noronex Limited has announced the sale of its non-core Witvlei Project in Namibia to Joint Era Mining Co., Limited for A$4.5 million. This strategic divestment allows Noronex to streamline its operations and focus on its core projects in the Kalahari Copper Belt. The proceeds from the sale will be used to strengthen the company’s balance sheet and fund exploration at the Etango North Uranium Project, positioning Noronex for future growth and development opportunities.
Noronex Ltd. has adopted a new constitution as of November 30, 2022, with amendments made on November 10, 2025. The updated constitution outlines the company’s governance structure, including share capital, rights, and securities holding, which are crucial for its operational and strategic direction.
Noronex Limited announced the successful passing of all resolutions at its Annual General Meeting, including the adoption of the remuneration report, re-election of David Prentice, and approval of various incentive options and mandates. This outcome reflects strong shareholder support and positions the company to continue its strategic initiatives, potentially impacting its operational efficiency and market competitiveness.
Noronex Limited has announced significant progress in its exploration activities, particularly in Namibia and Botswana. The company has reported promising copper intercepts from its Fiesta Copper Project in Namibia and has initiated a 7,000m RC drilling program at the Powerline Project. Additionally, Noronex has expanded its strategic alliance with South32 to include new tenements in Botswana, with a commitment of up to A$5 million over five years. The company has also identified new uranium targets at the Etango North Uranium Project and completed a $750,000 placement to support ongoing exploration efforts. These developments are expected to strengthen Noronex’s position in the mining sector and potentially lead to new discoveries.