Noronex Ltd. (AU:NRX)
ASX:NRX
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Noronex Ltd.
(Sydney:NRX)
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Select Model
Rating:43Neutral
Price Target:
AU$0.01
▲(0.00% Upside)
Action:ReiteratedDate:03/24/26
The score is weighed down primarily by heavy ongoing losses and sustained cash burn, despite improving revenue. Technicals also remain weak with the stock below key moving averages and negative MACD. A debt-free balance sheet provides some risk reduction, but valuation support is limited given negative earnings and no dividend.
Positive Factors
Debt-free balance sheet
A debt-free balance sheet materially reduces financial risk and interest burden for an early-stage copper company. That structural flexibility supports continued exploration and working-capital needs without immediate leverage constraints, improving survival odds over months.
Negative Factors
Persistent cash burn
Consistent negative operating and free cash flow denotes ongoing cash burn and structural reliance on external financing. Over a multi-month horizon this weak cash generation constrains strategic optionality, raises dilution risk, and limits capacity to fund expansion internally.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A debt-free balance sheet materially reduces financial risk and interest burden for an early-stage copper company. That structural flexibility supports continued exploration and working-capital needs without immediate leverage constraints, improving survival odds over months.
Read all positive factors
Noronex Ltd. (NRX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$6.92M
Dividend YieldN/A
Average Volume (3M)900.67K
Price to Earnings (P/E)―
Beta (1Y)1.35
Revenue GrowthN/A
EPS Growth6.15%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryCopper
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding628,993,650
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 operates as a mineral exploration company. The company primarily explores for base and precious metals, as well as copper deposits. It focuses on Witvlei project comprising two prospecting licences covering an area of approximately...
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
<0.01
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 <0.01 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% | |
49 Neutral | AU$13.41M | -4.19 | -7.21% | ― | ― | -34.62% | |
44 Neutral | AU$173.22M | -4.15 | -73.21% | ― | ― | -11.29% | |
43 Neutral | AU$6.92M | -3.13 | -123.30% | ― | ― | 6.15% | |
43 Neutral | AU$174.13M | 8.15 | -118.27% | ― | -57.00% | -1789.13% | |
41 Neutral | AU$177.73M | -8.21 | -14.19% | ― | ― | ― |
* Basic Materials Sector Average
AU:NRX
Noronex Ltd.
0.01
>-0.01
-42.11%
AU:CYM
Cyprium Metals Limited
0.36
0.15
71.50%
AU:CVV
Caravel Minerals Limited
0.31
0.13
67.57%
AU:REC
Recharge Metals Limited
0.03
0.02
190.00%
AU:AR1
Austral Resources Australia Limited
0.08
-0.08
-48.75%
Noronex Ltd. Corporate Events
Noronex CEO Departs as Explorer Reaffirms Strategy and South32-Backed Programs
Mar 20, 2026
Noronex Limited has announced the resignation of Managing Director and CEO Victor Rajasooriar, who is leaving to lead Wiluna Mining Corporation, with the board and executive team assuming his responsibilities during the transition until a permanen...
Noronex Plans New Share Placement to Raise Capital
Mar 10, 2026
Noronex Limited has notified the ASX of a proposed placement of up to 7,069,921 ordinary fully paid shares, with the issue date scheduled for 20 March 2026. The new securities, to be quoted under existing ASX arrangements, indicate a fresh capital...
Noronex completes Dordabis sale to fund Namibian uranium and copper push
Mar 10, 2026
Noronex has completed the sale of its non-core Dordabis Copper Project in Namibia to Umino, receiving a total of N$11.5 million, including a final payment of N$5 million. The project represents only about 2% of Noronex’s Namibian tenure, and...
Noronex launches gravity survey at Botswana copper-silver project
Mar 1, 2026
Noronex has begun an extensive ground gravity survey over the northern portion of its Cgae Cgae Copper-Silver Project in Botswana, targeting covered Kalahari Copper Belt stratigraphy and structures where geological data is scarce. The program, fun...
Noronex Clears Compliance Hurdle for Trading of Newly Issued Shares
Feb 6, 2026
Noronex Limited has issued 4,560,811 fully paid ordinary shares and has lodged the required notice under section 708A(5) of the Corporations Act 2001, confirming these shares can be freely traded without a disclosure document. The company states i...
Noronex Applies for Quotation of 4.56 Million New Shares on ASX
Feb 6, 2026
Noronex Ltd. has applied to the ASX for quotation of 4,560,811 new ordinary fully paid shares under the code NRX. The securities, which were issued on 6 February 2026 as part of previously announced transactions, will expand the company’s qu...
Noronex Moves to Majority Stake in Namibia’s Etango North Uranium Project
Feb 2, 2026
Noronex Limited has exercised its option to move to 51% ownership of the Etango North Uranium Project (EPL 6776) in Namibia after completing an exclusivity period and technical due diligence that confirmed multiple high-priority uranium targets. T...
Noronex Launches Maiden Drilling at Etango North Uranium Project in Namibia
Jan 27, 2026
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 contract...
Noronex Appoints Drilling Contractor for Maiden Program at Etango North Uranium Project
Jan 22, 2026
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 ...
Noronex Extends Copper-Silver Mineralisation at Namibia’s Powerline Project
Jan 21, 2026
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 Za...
Noronex Advances Kalahari Drilling, Sells Witvlei Asset and Funds Etango Uranium Program
Jan 20, 2026
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 Po...
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.