Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Mindax Limited ( (AU:MDX) ) has provided an announcement.
Mindax Limited has executed an Option Deed with Norton Goldfields to acquire Norton’s 35% stake in the Mt Forrest magnetite iron ore project, potentially increasing Mindax’s ownership to 100%. This move aligns with Mindax’s strategy to consolidate iron ore interests in the Mid-West region of Western Australia, facilitating the development of infrastructure for ore transportation and enhancing its market position. The transaction is subject to shareholder and regulatory approvals, and Mindax plans to fund the acquisition through equity capital raising or a trade sale to secure a development partner.
More about Mindax Limited
Mindax Limited operates in the mining industry, focusing on the exploration and development of iron ore resources. The company is primarily involved in the Mt Forrest magnetite iron ore project located in the Yilgarn province of Western Australia, aiming to establish the region as an iron ore production hub.
Average Trading Volume: 289,999
Technical Sentiment Signal: Hold
Current Market Cap: A$143.3M
Find detailed analytics on MDX stock on TipRanks’ Stock Analysis page.