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An update from Mindax Limited ( (AU:MDX) ) is now available.
Mindax continued advancing its strategy to develop Western Australia’s Mid-West into an iron ore processing hub during the March quarter, maintaining engagement with potential stakeholders for a shared infrastructure project to transport magnetite from mine to port. The company also raised working capital via share placements under an existing mandate to sustain project momentum and expects further placements in the coming quarter.
At the Mt Forrest Iron Project, Mindax progressed metallurgical test work on ore from its high-grade magnetite domains and is seeking development partners as it moves toward potentially consolidating 100% ownership. The company is also exploring next steps for the Mid-West Shared Infrastructure Project following positive phase-two study results, while retaining exposure to gold through its Mt Lucky tenement in the highly prospective Laverton district.
Title: Mindax advances Mid-West iron ore hub vision amid test work and funding moves
More about Mindax Limited
Mindax Limited is an Australian resources company focused on developing iron ore and gold assets in Western Australia. Its flagship Mt Forrest Iron Project in the Yilgarn province targets high-grade magnetite, while the company also holds the Mt Lucky Gold Project near existing processing infrastructure in the Laverton Greenstone Belt, positioning it within established mining regions.
Average Trading Volume: 82,435
Technical Sentiment Signal: Sell
Current Market Cap: A$70.9M
Find detailed analytics on MDX stock on TipRanks’ Stock Analysis page.