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MINDAX LIMITED — Capital/Financing Update 2012
Sep 5, 2012
65308_rns_2012-09-05_345a511f-de3e-406c-a0b6-f7798834e0d8.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
SUCCESSFUL CAPITAL RAISING
6 September 2012
ASX Code: MDX
ABN: 28 106 866 442
Corporate Description
Mindax's Mt Forrest Iron Project is progressing through feasibility with a view to mining at the end of 2014.
Mindax is also the greenfields discoverer of a new uranium province near Mukinbudin, Western Australia.
Mindax also has exploration projects based in Western Australia which involve Gold and Copper.
Through technically advanced exploration and an eye for detail, Mindax has successfully built a significant portfolio of 37 mineral exploration and mining tenements covering over 4,000 square kilometres. In addition, Mindax has applications in place for water and infrastructure covering over 2,400 square kilometres in support of the Mt Forrest Iron Project development.
Mindax aims to develop strategic resources through innovative exploration. Projects will be moved to production including via strategic partnerships.
Key Projects
| Key Projects | |
|---|---|
| Mt Forrest | DSO Iron, Magnetite |
| Yilgarn-Avon JV | Sedimentary Uranium |
| Mortlock JV | Copper-Gold |
| Meekatharra | Gold |
| Address | |
| Level 2, 25 Richardson Street | |
| West Perth WA 6005 | |
| Telephone: | +61 8 9485 2600 |
| Facsimile: | +61 8 9485 2500 |
| Email: | [email protected] |
Investor Enquiries
Steve Ward Managing Director and Chief Executive Officer Telephone: +61 8 9485 2600 Email: [email protected] Media Enquiries David Utting Mobile: +61 416 187 462 Email: [email protected]
The Directors of Mindax Limited ( the Company ) are pleased to announce that the Company has received commitments to subscribe for a placement of 8,000,000 ordinary fully paid shares (to rank equally in all respects with existing shares) at A$0.085 (eight and a half cents) per share to raise gross proceeds of A$680,000.
The placement will be made to a number of sophisticated and professional investors, and the securities will utilise the balance of the Company’s currently available 15% placement capacity. Funds raised from the placement will be applied to the Company’s project activities and to provide working capital.
Dr Steve Ward, Mindax’s Managing Director and CEO commented: “We are very pleased to receive support from these shareholders at around our current 30 day VWAP and at a premium to the Company’s existing share price and thank them for the funds received. Our iron ore and uranium projects are at an exciting stage and have much future potential. We will provide updates as we make progress and plan to issue the first in the near future.”
The Company anticipates cleared funds will be settled within 5 business days and application for quotation of these securities will then be made to ASX Limited.
For and on behalf of the Board
MINDAX LIMITED
CHRISTOPHER POUGNAULT Company Secretary
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MINDAX LIMITED | www.mindax.com.au