Mindax Limited ( (AU:MDX) ) has issued an update.
Mindax Limited has successfully completed a $7.2 million placement, issuing 221,028,298 shares at a 20% discount to enhance its working capital. This funding will support the development of the Mt Forrest Iron Project and allow the company to explore further opportunities in the Mid-West Iron region. Additionally, Mindax has acquired a 4.1% stake in Doublebell Resource Wealth Pty Ltd, which holds exploration licenses in the Norseman-Wiluna Greenstone Belt, known for gold prospects and the Bromus kaolin-high purity quartz deposits. This investment aligns with Mindax’s strategic objectives and could potentially enhance its resource portfolio.
More about Mindax Limited
Mindax Limited operates in the mining industry, focusing on the development and exploration of mineral resources. The company is involved in projects such as the Mt Forrest Iron Project, which is a joint venture, and is exploring opportunities in the Mid-West Iron region.
YTD Price Performance: 20.0%
Average Trading Volume: 270,935
Technical Sentiment Signal: Buy
Current Market Cap: A$102.2M
Learn more about MDX stock on TipRanks’ Stock Analysis page.