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MINDAX LIMITED — Capital/Financing Update 2013
Jan 7, 2013
65308_rns_2013-01-07_3f4c3c64-278f-4ac4-9cc6-2d460dc785aa.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
8 January 2013
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
Mt Forrest Iron 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]
COMMITMENT RECEIVED FOR PLACEMENT OF SHARES
Mindax Limited ( the Company ) is pleased to announce that it has received binding commitments to subscribe for a placement of 16,500,000 ordinary fully paid shares (to rank equally in all respects with existing shares) at A$0.10 (ten cents) per share to raise gross proceeds of A$1,650,000. This represents circa 7.15% of the Company’s currently issued share capital.
The placement will be made to existing and new sophisticated investors and represents an 18.9% premium to the Company’s current 30 day VWAP.
Funds raised from the placement will be to provide additional working capital for the Company.
Dr Steve Ward, Managing Director and CEO commented: “We are really pleased to have raised these additional funds in what are still very challenging financial markets. It is a very positive vote of confidence in our Company and a great start to 2013 for us.”
The Company anticipates cleared funds will be received and the placement settled by mid-January 2013. Application for quotation of these securities will then be made to ASX Limited.
For and on behalf of the Board MINDAX LIMITED
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]
CHRISTOPHER POUGNAULT Company Secretary
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MINDAX LIMITED | www.mindax.com.au