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MINDAX LIMITED — Capital/Financing Update 2023
Feb 28, 2023
65308_rns_2023-02-28_d8c9d32a-0392-43bb-b658-c931f1f8957b.pdf
Capital/Financing Update
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AMENDMENT
ASX ANNOUNCEMENT
1 March 2023
ASX Code: MDX ABN: 28 106 866 442
Principal Address and Registered Office Level 1, Suite 3 17 Ord Street West Perth WA 6005 Telephone: +61 8 9389 2111 Email: [email protected]
Investor Enquiries Mr Benjamin Chow AO Chair Telephone: +61 8 9389 2111 Email: [email protected]
UPDATE ON REINSTATEMENT TO OFFICIAL QUOTATION
Mindax Limited (ASX: MDX ) ( Mindax or the Company ) refers to the announcement released earlier today titled “Update on Reinstatement to Official Quotation” ( Announcement ) which contained an error in the Proposed Use of Funds table included on page 19 as part of Appendix E.
The amended Proposed Use of Funds table is included in this announcement as Appendix A, incorporating an additional $1 million allocated to Working Capital to agree the total to the approximate $3.4 million cash at bank on hand at the date of this announcement.
This announcement has been authorised for release by Benjamin Chow AO, Chair.
End of Announcement
For further information contact: Benjamin Chow AO Chair Mindax Limited Telephone: +61 8 9389 2111
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MINDAX LIMITED | www.mindax.com.au
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APPENDIX A: PROPOSED USE OF FUNDS
As at the date of this announcement the Company has approximately $3.4 million cash at bank. Based on the above activities (outlined in this Appendix E), the Company’s indictive use of funds is as follows:
| is as follows: | ||
|---|---|---|
| Allocation of Funds | AUD$ | % of Funds |
| Exploration activities on the Mount Lucky GoldProject |
365,000 | 10.7% |
| Exploration activities on the Meekatharra Gold Project |
325,000 | 9.6% |
| Exploration activities on the Mount Forrest Iron Project |
Not Applicable – funded by Yilgiron |
Not Applicable |
| Exploration activities on the Mount Forrest Gold Project |
300,000 | 8.8% |
| Lithium exploration activities on the Mount Forrest Project |
185,000 | 5.4% |
| Scoping Study on the Mount Forrest Iron Project contemplated by the HOA with AGIG |
200,000 | 5.9% |
| Administration Costs | 775,000 | 22.8% |
| Working Capital | 1,250,000 | 36.8% |
| Total | 3,400,000 | 100.0% |
Note : The above table is a statement of current intentions as of the date of this Announcement for a twelve month period. As with any budget, intervening events and new circumstances have the potential to affect the manner in which the funds are ultimately applied. The Board reserves the right to alter the way funds are applied on this basis.
MINDAX LIMITED | www.mindax.com.au