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Noronex Limited (ASX:NRX)

ALERT: Price-sensitive ASX Announcement for NRX
Current share price for NRX : $0.011 -0.001 (-8.33%)+
Announcement
Release
11 Mar 2026 8:23AM
Price at Release
$0.012
Full Release
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Summary
Noronex Limited has completed the sale of its non-core Dordabis Copper Project in Namibia, receiving a final payment of N$5 million. The transaction involves transferring 86% of the shares in Borage, the entity holding the project licence, to Umino, with Noronex retaining 11.2% and its joint venture partner Larchmont Holdings retaining 2.8%. Umino assumes responsibility for future project costs and has an option to acquire the remaining equity in Borage. This divestment aligns with Noronex's strategy to focus on its high-priority uranium and copper projects in Namibia, with the funds from the sale strengthening its exploration capabilities. The project sale is part of Noronex's broader strategy to streamline its asset base and concentrate on more prospective opportunities.
Key Points
  • Dordabis Copper Project sale completion
  • Final payment of N$5 million received
  • Shareholding structure after transaction outlined
  • Umino responsible for future project costs
  • Noronex retains 11.2% of shares
  • Funds directed towards Namibian uranium project
  • Focus on high-priority copper and uranium targets
  • Divestment aligns with asset streamlining strategy
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.