Want to see AU:NRX full AI Analyst Report?
Top Page
Noronex Ltd.
(Sydney:NRX)
Select Model
Select Model
Rating:52Neutral
Price Target:
AU$0.01
▲(0.00% Upside)
Action:Reiterated
Date:10/07/26
The score is primarily constrained by weak cash-flow quality (ongoing and worsening cash burn) and historically volatile results, partially offset by a debt-free balance sheet, the recent profitability/revenue step-change, modestly supportive technical positioning above key moving averages, and a low P/E valuation.
Positive Factors
Debt-free balance sheet
A debt-free balance sheet reduces interest obligations and refinancing exposure, preserving financial flexibility through changing conditions. It also leaves more capacity to allocate future funds toward operations, investment, or growth rather than servicing lenders, provided cash resources remain adequate.
Negative Factors
Persistent and worsening cash burn
Persistent negative operating and free cash flow means reported profitability has not yet translated into self-funding operations. The wider 2026 burn increases reliance on cash reserves or external capital, potentially limiting investment flexibility and weakening the durability of the recent turnaround.
Read all positive and negative factors
Positive Factors
Negative Factors
Debt-free balance sheet
A debt-free balance sheet reduces interest obligations and refinancing exposure, preserving financial flexibility through changing conditions. It also leaves more capacity to allocate future funds toward operations, investment, or growth rather than servicing lenders, provided cash resources remain adequate.
Read all positive factors
Noronex Ltd. (NRX) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$7.40M
Dividend YieldN/A
Average Volume (3M)630.71K
Price to Earnings (P/E)5.9
Beta (1Y)1.06
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryCopper
Share Statistics
EPS (TTM)<0.01
Shares Outstanding740,484,800
10 Day Avg. Volume283,594
30 Day Avg. Volume630,706
Financial Highlights & Ratios
PEG Ratio-0.04
Price to Book (P/B)1.89
Price to Sales (P/S)2.14
P/FCF Ratio-1.04
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
54
Neutral
Balance Sheet
73
Positive
Cash Flow
18
Very Negative
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.31M | 368.16K | 40.68K | 0.00 | 0.00 |
| Gross Profit | 2.86M | 368.16K | 40.68K | 0.00 | 0.00 |
| EBITDA | 2.81M | -1.08M | 10.60K | 18.51K | 8.40K |
| Net Income | 1.15M | -3.13M | -2.51M | -3.35M | -5.55M |
Balance Sheet | |||||
| Total Assets | 3.19M | 2.20M | 3.81M | 3.32M | 5.05M |
| Cash, Cash Equivalents and Short-Term Investments | 1.41M | 1.01M | 913.58K | 393.75K | 2.11M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 186.43K | 1.22M | 754.42K | 424.52K | 468.48K |
| Stockholders Equity | 3.23M | 951.15K | 3.02M | 2.85M | 4.36M |
Cash Flow | |||||
| Free Cash Flow | -5.89M | -3.68M | -2.36M | -3.12M | -5.36M |
| Operating Cash Flow | -5.89M | -3.68M | -2.36M | -3.12M | -5.28M |
| Investing Cash Flow | 1.44M | -42.61K | 412.06K | 0.00 | -80.00K |
| Financing Cash Flow | 5.05M | 3.78M | 2.47M | 1.42M | 4.46M |
Noronex Ltd. Technical Analysis
Negative
0.01
Price Trends
0.01
Negative
0.01
Negative
0.01
Negative
Market Momentum
>-0.01
Negative
48.15
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 48.15 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% | |
52 Neutral | AU$7.40M | 5.88 | 49.80% | ― | ― | ― | |
45 Neutral | AU$6.95M | -3.93 | -14.04% | ― | ― | 37.50% | |
45 Neutral | AU$53.57M | -23.64 | -1.15% | ― | -100.00% | 99.56% | |
44 Neutral | AU$266.82M | -23.23 | -4.15% | ― | ― | 22.68% | |
43 Neutral | AU$106.16M | -5.23 | 634.53% | ― | ― | -163.77% | |
41 Neutral | AU$173.42M | -10.24 | -9.20% | ― | ― | 81.09% |
* Basic Materials Sector Average
AU:NRX
Noronex Ltd.
0.01
>-0.01
-37.50%
AU:HCH
Hot Chili Limited
1.32
0.33
34.18%
AU:NFM
Castillo Copper Ltd.
0.01
-0.01
-52.38%
AU:CYM
Cyprium Metals Limited
0.30
-0.10
-24.81%
AU:CVV
Caravel Minerals Limited
0.19
<0.01
2.70%
AU:TNC
True North Copper
0.26
-0.06
-18.75%
Noronex Ltd. Corporate Events
Noronex Secures Alaskan Tin Project and Advances Critical Metals Strategy
Oct 30, 2026
Noronex has completed the acquisition of 100% of the high-grade Sleitat Tin Project in Alaska, one of the few large-scale tin projects in the United States, and has undertaken maiden field mapping and high-resolution geophysical surveys to define ...
Noronex survey reveals major extensions at Alaska Sleitat tin system
Oct 20, 2026
Noronex has reported encouraging results from a high-resolution airborne magnetic, radiometric and VLF-EM survey over its Sleitat Tin-Tungsten-Silver Project in Alaska. The data confirm that tin-bearing greisen rock extends for more than one kilom...
Noronex Completes Maiden Sleitat Exploration and Strengthens Alaskan Team
Oct 5, 2026
Noronex has completed its maiden field exploration and high-resolution geophysical programs at the 100%-owned Sleitat tin-tungsten-silver project in Alaska, marking the first systematic modern survey of the broader mineralised system. The work, wh...
Noronex Files Appendix 4G, Confirms ASX Governance Compliance
Sep 30, 2026
Noronex Limited has lodged its Appendix 4G and confirmed that its corporate governance statement for the year ended 30 June 2026 is current as at 30 September 2026 and approved by the board. The company reports that it follows key ASX Corporate Go...
Noronex Releases Comprehensive Annual Report for FY2026
Sep 30, 2026
Noronex Ltd. has released its annual report for the year ended 30 June 2026, comprising the directors’ report, audited consolidated financial statements, cash flow and equity statements, and other statutory disclosures. The document also inc...
Noronex Updates Market on Director Equity Incentives
Sep 7, 2026
Noronex Limited is an Australia-listed company, with its securities traded on the ASX. The company operates under Australian corporate and securities regulations, and its directors’ holdings and changes in interests are disclosed in line wit...
Noronex Director David Prentice Granted Additional Equity Incentives
Sep 7, 2026
Noronex Limited has disclosed a change in director David Prentice’s interests following the issue of new equity incentives. Prentice received 2,000,000 unquoted options exercisable at $0.025 each to 7 September 2028 and 2,000,000 performance...
Noronex Clears New Share Issue for On-Sale Under Corporations Act Exemption
Sep 7, 2026
Noronex Limited, an ASX-listed copper explorer with projects in the Kalahari Copper Belt and Ontario, is advancing its portfolio through significant historical drilling and strategic earn-in agreements with South32. The company also maintains expo...
Noronex Seeks ASX Quotation for 4 Million New Ordinary Shares
Sep 7, 2026
Noronex Ltd., listed on the ASX under code NRX, focuses on maintaining an actively traded register of ordinary fully paid shares as its primary listed securities, in line with Australian market and regulatory standards for quoted equity. The compa...
Noronex Seeks ASX Quotation for 88.8 Million New Shares
Sep 7, 2026
Noronex Limited has applied for quotation on the ASX of 88,843,956 ordinary fully paid shares under the code NRX, with an issue date of 7 September 2026. The application formalises the move to have these securities trading on the exchange, potenti...
Noronex Issues New Unquoted Performance Rights and Options
Sep 7, 2026
Noronex Ltd., listed on the ASX under code NRX, has disclosed changes to its capital structure via the issuance of new unquoted equity instruments. The move underscores the company’s continued reliance on performance-linked rights and option...
Noronex Issues New Unquoted Performance Rights and Options
Sep 7, 2026
Noronex Limited has notified the market of a new issue of unquoted equity securities, expanding its pool of performance-based instruments. The company has created significant additional incentives that are designed to support executive and employe...
Noronex Shareholders Back All Resolutions at General Meeting
Sep 4, 2026
Noronex Limited has reported that all resolutions put to shareholders at its 4 September general meeting were passed by poll. The approved items include ratification of previous share and option issues, new share issuances linked to settlement and...
Noronex Launches First Modern Exploration at Alaska’s Sleitat Tin Project
Sep 2, 2026
Noronex Ltd., an ASX-listed explorer focused on tin, tungsten and silver, is advancing its North American footprint through the Sleitat Tin Project in Alaska. Sleitat is recognised by the USGS as one of only two likely economic tin deposits in the...
Noronex updates market on expiry of director options
Aug 14, 2026
Noronex Limited has notified the ASX of a change in director Piers Lewis’s interests, following the expiry of a tranche of quoted options on 7 August 2026. The disclosure shows that Lewis’s indirect holding of 304,167 quoted options ex...
Noronex Discloses Lapse of Director David Prentice’s Quoted Options
Aug 14, 2026
Noronex Ltd. has reported a change in the share and option holdings of director David Prentice, as required under ASX listing rule 3.19A.2. The notice details adjustments to his direct and indirect interests in the company’s securities throu...
Noronex moves to digital-first communications for upcoming shareholder meeting
Aug 4, 2026
Noronex Limited has called a general meeting of shareholders for 4 September 2026 in Subiaco, Western Australia, and has released a letter to shareholders, notice of meeting, and sample proxy form in connection with the event. The company is shift...
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.