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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 | 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
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% | |
49 Neutral | €206.74M | -12.12 | -73.21% | ― | ― | -11.29% | |
49 Neutral | AU$15.27M | -0.77 | -24.85% | ― | ― | -34.62% | |
44 Neutral | AU$217.78M | -1.68 | -31.02% | ― | ― | ― | |
43 Neutral | AU$191.12M | 8.15 | -118.27% | ― | -57.00% | -1789.13% | |
42 Neutral | AU$7.55M | -3.13 | -157.73% | ― | ― | 6.15% |
Noronex Ltd. Corporate Events
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-raising move that may strengthen the company’s balance sheet and provide funding flexibility for future operational or strategic needs.
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 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 the exit is designed to streamline its asset base and sharpen focus on more prospective copper and uranium opportunities.
Under the new ownership structure, Umino will hold 86% of Borage, the entity that owns the Dordabis licence, while Noronex and joint venture partner Larchmont Holdings retain 11.2% and 2.8% respectively, with Umino assuming all future project costs. Larchmont’s decision to take half of its final consideration in Noronex shares signals confidence in the broader portfolio, while the funds raised bolster Noronex’s balance sheet and will be directed toward advancing drilling and exploration at its Namibian uranium and copper projects.
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 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, funded under an earn-in agreement with a South32 subsidiary, is intended to improve understanding of basin architecture and structural frameworks that may host copper-silver mineralisation.
The gravity work complements a recently completed 35-hole, 2,655-metre scout reverse circulation drilling program in the southern licence area, which focused on characterising sub-surface geology rather than directly defining ore bodies. Assay results from this first-pass drilling are pending, and together with the new gravity data are expected to refine drill targeting and shape the next phase of exploration, potentially enhancing Noronex’s positioning within the prospective Kalahari Copper Belt.
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 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 it is compliant with its financial reporting and continuous disclosure obligations and that there is no undisclosed information material to assessing its financial position, prospects, or the rights attached to the new shares, underscoring regulatory compliance and transparency for current and prospective shareholders.
The most recent analyst rating on (AU:NRX) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Noronex Ltd. stock, see the AU:NRX Stock Forecast page.
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 quoted share capital, potentially affecting liquidity and ownership dispersion once admitted to trading.
The most recent analyst rating on (AU:NRX) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Noronex Ltd. stock, see the AU:NRX Stock Forecast page.
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. The company will pay a total of N$1.5 million split equally between cash and shares to its local Namibian partner, securing the right to earn 51% ownership by February 2026, while a maiden drilling program is already underway targeting AI-defined radiometric and alaskite-hosted anomalies in a district that hosts major operations such as Rossing, Husab and Bannerman Energy’s Etango development. Noronex also holds an option to increase its stake in the project to 80% by 2027 under staged earn-in terms, positioning it as operator of a strategically located uranium asset that strengthens its role in supplying key commodities for the energy transition.
The most recent analyst rating on (AU:NRX) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Noronex Ltd. stock, see the AU:NRX Stock Forecast page.
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.