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Mindax Limited
(Sydney:MDX)
Mindax Limited (MDX) vs. iShares MSCI Australia ETF (EWA)
Mindax Limited Business Overview & Revenue Model
Mindax Limited Financial Statement Overview
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 2.99K | 0.00 | 59.96K | 0.00 |
| Gross Profit | -67.70K | 2.99K | -11.46K | 59.96K | -1.11K |
| EBITDA | -2.55M | -2.54M | -1.91M | -1.08M | -1.91M |
| Net Income | -2.85M | -2.28M | -5.57M | 13.42M | -1.13M |
Balance Sheet | |||||
| Total Assets | 33.93M | 26.73M | 19.32M | 18.98M | 4.25M |
| Cash, Cash Equivalents and Short-Term Investments | 1.32M | 520.04K | 4.63M | 1.68M | 1.19M |
| Total Debt | 58.69K | 108.65K | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 8.67M | 2.13M | 273.95K | 360.74K | 396.83K |
| Stockholders Equity | 18.61M | 17.68M | 19.05M | 18.62M | 3.85M |
Cash Flow | |||||
| Free Cash Flow | -1.85M | -4.38M | -2.40M | -965.54K | -2.00M |
| Operating Cash Flow | -1.85M | -1.83M | -1.44M | -965.54K | -1.36M |
| Investing Cash Flow | -5.00M | -2.33M | -1.00M | 208.51K | -644.86K |
| Financing Cash Flow | 7.65M | 57.73K | 5.39M | 1.25M | 3.01M |
Mindax Limited Technical Analysis
Mindax Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | AU$160.39M | 12.13 | 13.04% | 4.01% | 24.48% | 97.18% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
56 Neutral | AU$175.75M | -48.04 | -1.53% | ― | ― | 71.98% | |
52 Neutral | AU$457.49M | 56.88 | -20.84% | ― | 11.43% | -238.93% | |
49 Neutral | AU$277.62M | -19.67 | -454.45% | ― | ― | 15.86% | |
47 Neutral | AU$293.57M | -5.16 | ― | ― | ― | ― | |
44 Neutral | AU$70.77M | -23.08 | -15.72% | ― | ― | -18.18% |
Mindax Limited Corporate Events
Mindax Limited has issued 2,702,703 fully paid ordinary shares on 11 February 2026, expanding its share capital base. The new securities were issued without a disclosure document, in accordance with provisions of the Corporations Act that allow such placements under certain conditions.
The company confirmed it is in compliance with its financial reporting and continuous disclosure obligations and stated there is no withheld price-sensitive information relevant to assessing the new shares. As a result of this notice, the new shares qualify for secondary trading exemption, enabling investors to freely on-sell them without further disclosure requirements, which may support liquidity in the stock.
The most recent analyst rating on (AU:MDX) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Mindax Limited stock, see the AU:MDX Stock Forecast page.
Mindax Limited has applied to the ASX for quotation of 2,702,703 ordinary fully paid shares, formalising the listing of these additional securities under its existing MDX code. The new shares were issued on 11 February 2026 as part of transactions previously flagged to the market, modestly increasing the company’s quoted capital base and potentially enhancing liquidity for shareholders.
The application confirms compliance with ASX Listing Rule requirements for quotation of the new securities, indicating the shares rank equally with existing ordinary stock. While the announcement does not outline the underlying purpose of the prior transactions, the incremental expansion of Mindax’s issued capital may support ongoing corporate or project funding needs and slightly broaden its investor participation on the exchange.
The most recent analyst rating on (AU:MDX) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Mindax Limited stock, see the AU:MDX Stock Forecast page.
Mindax Limited has notified the ASX of a proposed issue of up to 2,702,703 ordinary fully paid shares under a placement or similar capital-raising structure. The new securities, to be issued on 10 February 2026, represent an additional equity raising that will expand the company’s share base and may provide further funding capacity for its ongoing activities and strategic initiatives.
The placement underscores Mindax’s continuing reliance on the equity markets to support its growth and operational plans while maintaining its ASX quotation status. Existing shareholders may experience dilution from the expanded register, but the capital injection could strengthen the company’s financial position and flexibility in pursuing future projects or investments.
The most recent analyst rating on (AU:MDX) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on Mindax Limited stock, see the AU:MDX Stock Forecast page.
Mindax Limited has notified the market of the issue of 58 million unquoted options, exercisable at $0.08 and expiring on 30 November 2026, under its ASX code MDXAT. The new options, which were previously flagged to the market, will not be quoted on the ASX and represent a significant increase in the company’s unquoted equity securities, potentially affecting capital structure and future dilution for existing shareholders.
The most recent analyst rating on (AU:MDX) stock is a Sell with a A$0.04 price target. To see the full list of analyst forecasts on Mindax Limited stock, see the AU:MDX Stock Forecast page.
Mindax Limited’s December 2025 quarter was marked by continued advancement of its Mt Forrest Iron Project and associated Mid-West infrastructure plans, alongside ongoing capital raisings. The company issued 58 million options to directors and related parties following shareholder approval, dispatched four tonnes of high‑grade magnetite samples from Mt Forrest for metallurgical testing to underpin future development studies, and continued discussions to secure development partners while progressing toward acquiring full ownership of the project. In parallel, Mindax maintained engagement with potential stakeholders to progress the Mid-West Shared Infrastructure Project, building on a completed phase two viability study, and raised working capital through share placements under an existing mandate to sustain project momentum, including its nearby Mt Lucky Gold Project.
The most recent analyst rating on (AU:MDX) stock is a Sell with a A$0.04 price target. To see the full list of analyst forecasts on Mindax Limited stock, see the AU:MDX Stock Forecast page.
Mindax Limited has notified the market of a correction to the details of a previously announced tranche of 2,000,000 unquoted options. The company, listed on the ASX under code MDX, clarified that these options now carry the updated code MDXAS and an amended expiry date of 18 July 2026, while retaining an exercise price of A$0.07. The update is administrative in nature, aligning market records with the correct option terms and providing clarity for stakeholders tracking the company’s unquoted equity securities.
Mindax Limited has announced a proposed issue of 58 million options as part of a new placement, with each option exercisable at $0.08 and expiring on 30 November 2026. The options, expected to be issued on 22 December 2025 and to be quoted on the ASX under the code MDXAT, represent a capital-raising initiative that could strengthen the company’s balance sheet and provide additional funding flexibility, with implications for existing shareholders through potential future dilution if the options are exercised.
Mindax Limited has issued 2,631,579 fully paid ordinary shares, which are now eligible for secondary trading under the exemption provided by section 708A(5) of the Corporations Act 2001. This announcement ensures compliance with regulatory requirements and facilitates the trading of these shares without the need for further disclosure, potentially enhancing liquidity and investor engagement.
Mindax Limited has announced a proposed issue of 2,631,579 fully paid ordinary securities, as part of a placement or other type of issue. This move is expected to enhance the company’s financial position and support its ongoing projects, potentially impacting its market presence and offering new opportunities for stakeholders.
Mindax Limited has announced changes to its directors’ interests following shareholder approval at the recent AGM. The company issued new options to its directors and updated the changes in interests due to the expiry of previous options. This move is part of the company’s ongoing efforts to align the interests of its leadership with its strategic goals.
Mindax Limited has announced the issuance of 2,000,000 unquoted equity securities, specifically options expiring on July 15, 2026, with an exercise price of $0.07. This issuance is part of previously announced transactions and is not intended to be quoted on the ASX, potentially impacting the company’s financial strategy and stakeholder interests.
Mindax Limited has announced the issuance of 54 million unquoted securities, specifically options expiring on November 30, 2026, at an exercise price of $0.08. This move is part of a previously announced transaction and is not intended to be quoted on the ASX, indicating a strategic financial maneuver that could impact the company’s capital structure and stakeholder interests.