Noronex Limited Seeks ASX Quotation for 4.9 Million Shares Issued as Partial Payment for Sleitat Project Deposit

Noronex Files for ASX Quotation of 4.9 Million Shares Linked to Sleitat Project Deposit

On 15 July 2026, Noronex Limited lodged an Appendix 2A application with ASX requesting quotation of 4,901,960 new ordinary fully paid shares. These shares, issued on the same date, relate directly to the Sleitat Project deposit transaction previously announced to the market. The filing confirms no additional securities remain to be issued under this transaction, indicating this tranche completes the equity component of the agreement referenced in the earlier Appendix 3B.

The shares were issued as partial consideration for the Sleitat Project deposit rather than for cash, with an estimated value of $0.0102 per share in Australian dollars. This equity-for-deposit arrangement is common in the resources industry, where counterparties accept shares as part of their payment. For further details on the transaction's terms, investors are referred to Noronex's 13 July 2026 announcement and Appendix 3B filing.

Implications of the Sleitat Project Deposit for Noronex's Asset Portfolio

The Sleitat Project is the key asset associated with this share issuance. Issuing shares as partial payment for the deposit signals Noronex’s active advancement of this project. While the full commercial details—including total deposit value, counterparty identity, and strategic rationale—were not disclosed in this filing, the company directed stakeholders to the 13 July 2026 announcement for comprehensive information. Investors should review that disclosure for a complete understanding of the transaction’s scope and financial impact.

Utilizing shares as consideration allows Noronex to conserve cash while progressing asset acquisitions. The issuance of approximately 4.9 million shares at $0.0102 each suggests the equity portion of this deposit is modest relative to typical resource sector transactions. The total deposit value and full consideration remain undisclosed. The Sleitat Project remains central to Noronex’s near-term operational and corporate objectives.

Noronex's Ordinary Shares on Issue Increase to Over 642 Million

Following the listing of the new shares, Noronex’s total ordinary fully paid shares on issue will reach 642,965,524 under the ASX ticker NRX. Additionally, 72,930,180 quoted options (ticker NRXO) expiring on 7 August 2026 remain outstanding. The company noted that capital structure figures may vary if other related filings are pending ASX processing at the time of this announcement.

This share increase, while minor compared to the total share base, represents a typical outcome of equity-based consideration. Existing shareholders face limited dilution given the issuance size relative to the total shares outstanding. However, investors should monitor Noronex’s overall capital management, including a significant number of unquoted options and performance rights that could cause future dilution if exercised or vested.

Unquoted Options and Performance Rights Highlight Potential Future Dilution

Noronex holds several unquoted securities that affect its fully diluted capital structure. The Appendix 2A reveals 20,000,000 options expiring 23 November 2027 at an exercise price of $0.024 (NRXAQ), 22,230,206 options expiring 20 May 2027 at $0.014 (NRXAM), and 18,500,000 options expiring 1 October 2027 at $0.025 (NRXAP). Combined, these total 60,730,206 potential shares if exercised before expiry.

Additionally, 9,000,000 performance rights (NRXAN) are outstanding. These rights typically vest upon meeting performance targets or service conditions, though specific vesting criteria were not disclosed. Together, unquoted options and performance rights represent a meaningful potential increase in Noronex’s share count, an important consideration for investors assessing the company’s capital structure.

Transaction Timeline: From Initial Appendix 3B to Appendix 2A Quotation Application

The share issuance process began with Noronex lodging an Appendix 3B on 13 July 2026 at 11:13 am, notifying the market of a planned securities issue related to the Sleitat Project deposit. Two days later, on 15 July 2026, the company confirmed issuance of 4,901,960 shares and submitted the Appendix 2A to request ASX quotation.

The Appendix 2A confirms no further securities remain to be issued under this transaction, indicating completion of this equity tranche. The rapid two-day timeline from notification to quotation application aligns with standard ASX procedures for such issuances. Whether further transactions related to the Sleitat Project will be announced remains at Noronex’s discretion.

Share Valuation and $0.0102 Per Share Consideration Basis

The Appendix 2A filing specifies an estimated consideration value of $0.0102 AUD per share for the 4,901,960 shares issued. This estimate fulfills disclosure requirements but may not reflect the market price or an independent valuation of NRX shares at issuance.

Since shares were issued as partial payment for the Sleitat Project deposit rather than cash, the $0.0102 figure provides a valuation reference for the equity component. This implies an approximate aggregate equity consideration of around $49,999.99, though the company did not explicitly state this total. Details on how this valuation was determined were not disclosed.

Near-Term Capital Event: Options Expiring August 2026

Among Noronex’s capital structure details, 72,930,180 quoted options (NRXO) expiring on 7 August 2026 stand out as a near-term event. These options could significantly affect the company’s capital base depending on exercise activity before expiry. Exercising these options would increase Noronex’s ordinary shares and potentially provide cash inflows, while unexercised options would lapse without proceeds.

The exercise price for these options was not disclosed, nor did the company comment on expected exercise levels. The outcome of this options expiry will impact Noronex’s share register and cash position shortly after this announcement. Investors should closely monitor this event.

Role of Appendix 2A Filings in ASX Share Issuances

For those unfamiliar with ASX procedures, an Appendix 2A is a mandatory form lodged by listed companies to request quotation of newly issued securities. It follows the Appendix 3B, which initially notifies the market of a proposed securities issue. Together, these filings ensure transparency and regulatory compliance regarding changes in a company’s issued capital.

Noronex’s Appendix 2A filing on 15 July 2026 concludes the process started by the 13 July Appendix 3B, confirming the issuance and readiness of 4,901,960 shares for trading on ASX under the NRX code. This process guarantees that shareholders and investors receive timely, accurate information about capital changes, enabling informed market decisions.