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Mindax Limited ( (AU:MDX) ) just unveiled an update.
Mindax Limited has made a strategic investment by acquiring a 5% stake in Cashmere Iron Limited, an unlisted exploration company with a significant iron project in Western Australia. This $3 million investment aligns with Mindax’s long-term strategy to consolidate iron resources in the Mid-West region, enhancing its presence and supporting the Mid-West Shared Infrastructure Project, thereby strengthening its position in the iron export industry.
More about Mindax Limited
Mindax Limited operates in the mining industry, focusing on iron resources. The company is engaged in the exploration and development of iron projects, particularly in the Mid-West region of Western Australia. Its primary market focus is on consolidating iron resources to support infrastructure projects and contribute significantly to Western Australia’s iron export industry.
YTD Price Performance: 60.0%
Average Trading Volume: 418,046
Technical Sentiment Signal: Sell
Current Market Cap: A$146.8M
See more data about MDX stock on TipRanks’ Stock Analysis page.