Australia's Noronex gains on alliance with South32 unit for Namibia project
18/07/2024 03:17
** Shares of Noronex NRX.AX rise as much as 52% to
A$0.019, their highest level since Sept. 5, 2023
** Shares on track for best day since Aug. 14, 2023, if
current gains hold
** Copper explorer says it has entered into an earn-in
agreement and strategic alliance with a unit of South32 S32.AX
to accelerate copper exploration in Namibia
** Says South32 has committed to fund A$15 mln ($10.10 mln)
over five years on exploration at its Humpback-Damara project in
Namibia
** About 21.7 mln Noronex shares change hands by 0202 GMT,
33.4 times the 30-day average volume
** Stock had risen 4.17% this year, as of last close
($1 = 1.4857 Australian dollars)
(Reporting by Sherin Sunny in Bengaluru)
((Sherin.Sunny@thomsonreuters.com))