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Mindax Limited (ASX:MDX)

ALERT: Price-sensitive ASX Announcement for MDX
Current share price for MDX : $0.042 0.003 (7.69%)+
Announcement
Release
28 Jan 2026 5:44PM
Price at Release
$0.039
Full Release
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Summary
Mindax Limited's quarterly activities report for the period ending December 31, 2025, details the company's cash flow statements, project updates, and strategic developments. The report highlights the issuance of 58 million options to directors following shareholder approval, and ongoing efforts to transform the Mid-West region into an iron ore processing hub. Mindax's cash position saw a net decrease with significant investment in exploration and evaluation, alongside financing activities including a share placement. The Mt Forrest Iron Project remains a focal point, with metallurgical testing underway and potential development partnerships being explored. Investments in both Doublebell Resource Wealth and Cashmere Iron Limited aim to bolster the company's strategic position in the region. Mindax's issued capital entails 2.36 billion fully paid ordinary shares and 97 million unlisted options as of December 2025.
Key Points
  • Issued 58 million options to directors post-AGM approval.
  • Engagement to develop Mid-West as an iron ore processing hub.
  • Ongoing financing through share placements for working capital.
  • Mt Forrest project: metallurgical testing and potential acquisition of Norton’s 35% stake.
  • Strategic investments in Doublebell Resource Wealth and Cashmere Iron Limited.
  • Exploration and evaluation expenditure advances gold exploration targets.
  • Cash position decreased with significant outflows in exploration and financing activities.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.