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MINDAX LIMITED — Capital/Financing Update 2013
Sep 3, 2013
65308_rns_2013-09-03_eb053a44-9883-40b1-8651-ae2528a72cb5.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
4 September 2013
INCREASED EQUITY POSITION IN YILGARN-AVON JOINT VENTURE
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 34 mineral exploration and mining tenements covering over 2,100 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
Mt Forrest Iron Yilgarn-Avon JV Sedimentary Uranium Mortlock JV Copper-Gold Meekatharra JV Gold
Principle Address and Registered Office
Level 2, 25 Richardson Street West Perth WA 6005 Telephone: +61 8 9485 2600 Facsimile: +61 8 9485 2500 Email: [email protected]
Mindax Limited ( Mindax ) refers to its announcement of 30 November 2012 regarding Quasar Resources Pty Ltd ( Quasar ) electing not to contribute to the Yilgarn-Avon Joint Venture ( YAJV ) expenditure for the 2013 calendar year.
Pursuant to the terms of the YAJV, a further adjustment has been made to Quasar’s share of the joint venture, which has been diluted and Mindax’s interest increased as follows:
Position as at 30 September 2012:
| Position as at 30 September 2012: | ||
|---|---|---|
| Percentage interest held by Mindax: | 77.17% | |
| Percentage interest held by Quasar: | 22.83% | |
| Recalculated Position (as at 31 July 2013): | ||
| Percentage interest held by Mindax: | 80.77% | |
| Percentage interest held by Quasar: | 19.23% |
Mindax maintains a positive relationship with Quasar and discussions regarding the 2014 exploration programme are at an early stage.
End of Announcement
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]
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MINDAX LIMITED | www.mindax.com.au