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MINDAX LIMITED — Capital/Financing Update 2011
Aug 9, 2011
65308_rns_2011-08-09_f9ea5e94-df37-4875-8386-455c467061dc.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
DATE: 10 August 2011
RENOUNCEABLE ENTITLEMENTS ISSUE UNDER SUBSCRIPTIONS & NEW DESPATCH DATE
ASX Code: MDX
Corporate Description
Mindax's Mt Forrest Iron Project progressing through development with a view to moving toward mining phase. The company is carefully putting in place necessary approvals and aligning infrastructure partners including and port.
Coupled with its significant iron assets, Mindax is also the greenfields discoverer of a new uranium province near Mukinbudin, Western Australia.
Through technically advanced exploration and an eye for detail, Mindax has successfully built a significant portfolio of minerals projects in Western Australia’s Yilgarn Craton of about 40 tenements covering over 4,600 square kilometres.
Mindax aims to develop strategic resources through innovative exploration. Higher yield projects will be moved to production via strategic partnerships.
The Directors of the Company advise that the Renounceable Entitlements Issue (“the offer”) offered pursuant to a Prospectus dated 1 July 2011, closed on 8 August 2011.
Eligible Shareholders subscribed for 5,353,674 New Shares (together with 5,353,674 free attaching New Options on a 1 for 1 basis) at an issue price of $0.25 per New Share. Of the balance not subscribed for 13,646,326 New Shares (together with free attaching New Options on a 1 for 1 basis), will revert to Patersons Securities Limited as partial Underwriter to the Entitlements Issue.
Patersons Securities Limited agreed to partially underwrite the offer to the extent of $4.75 million, representing the minimum subscription under the offer .
It should also be noted that in addition to the subscriptions received from Eligible Shareholders described above, additional shortfall applications for New Shares (and attaching New Options) totalling 52,521 were received. In accordance with the Prospectus dated 1 July 2011, the Underwriter will be considering these applications when settling the shortfall.
Key Projects
Mt Forrest DSO Iron, Magnetite Yilgarn-Avon JV Sedimentary Uranium Mortlock JV Copper-Gold Address
Level 2, 25 Richardson Street West Perth WA 6005 T : +61 8 9485 2600 F : +61 8 9485 2500
Investors
It is now anticipated that despatch of holding statements will take place on Tuesday 16 August 2011 (“new despatch date”) , as opposed to the previously notified date of 15 August 2011.
The Directors wish to thank all investors that participated in the Entitlements Issue.
Yours sincerely
Greg Bromley Managing Director E: [email protected]
Media
David Utting M: 0416 187 462 E: [email protected] Mindax ABN: 28 106 866 442
Angelo Francesca Company secretary
MINDAX LIMITED | ASX ANNOUNCEMENT - 10 AUGUST 2011