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  • Noronex (NRX) ends the week in a trading halt as it plans a capital raise
  • There are no details on how much the company is aiming to raise, however Noronex has said there is a project purchase ahead
  • Company shares will be paused until Tuesday, September 21, or when more information about the raise is released to the market
  • Additionally, the company has also commenced drilling at the Otjiwaru prospect, at the Witvlei Project in Namibia
  • On the market, Noronex last traded at 13 cents per share

Noronex (NRX) has ended the week in a trading halt ahead of an upcoming capital raise.

There are currently no details on how much the company is aiming to raise, however it did say the money would be related to an upcoming project acquisition.

Under the halt, company shares will be paused until Tuesday, September 21, or when more information about the raise is released to the market.

Noronex has also announced it has commenced drilling at the Otjiwaru prospect, located at the Witvlei Project in Namibia.

The drilling program will included 10,000 metres of reverse circulation drilling, testing five high priority targets.

Drilling is expected to take between three to four months.

“Diamond drilling is expected to follow up on these regional RC hole fences to define the style and character of the geology and mineralisation.”

On the market, Noronex last traded at 13 cents per share.

NRX by the numbers
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