Mindax Limited
AASX:MDX0.04
AUD
+0.00
(+2.94%)
Mindax Limited
ASX:MDX
(Australian Securities Exchange)
Recent
price
0.04
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- Mindax Limited (ASX:MDX) is an Australia-based mineral exploration and development company focused on iron ore and gold projects in Western Australia. The company operates through two primary segments, Gold and Iron Ore; the Gold segment encompasses the 100%-owned Mt Lucky Gold Project in the Mt Margaret Mineral Field of the north-eastern Goldfields (Laverton Greenstone Belt) and the 100%-owned Meekatharra North Gold Project (tenement E51/1705) in the Murchison Gold Field, approximately 40 kilometers north of Meekatharra and proximate to the Andy Well Gold Mine; the Iron Ore segment features the flagship Mt Forrest magnetite iron ore project in the Yilgarn province of the Mid-West region, operated via a 65%/35% joint venture with Norton Gold Fields Pty Ltd and hosting JORC (2012) compliant Mineral Resources of 422.37 million tonnes Indicated (41.42% mass recovery, 64.76% concentrate Fe) and 599.40 million tonnes Inferred (43.14% mass recovery, 63.85% concentrate Fe) at an 18% mass recovery cut-off. Mindax targets the green steel revolution by leveraging high-grade magnetite for low-carbon steel production in electric arc furnaces, while advancing gold exploration in established provinces near major operations such as Sunrise Dam, Granny Smith, Mt Morgans and Lancefield; its projects emphasize higher-grade deposits and shared infrastructure potential, including the Mid-West Shared Infrastructure Project studied with Australian Gas Infrastructure Group (AGIG) and Verbrec for processing Yilgarn magnetite via gas pipelines, water, power, hydro-transport and shallow harbour transhipping. Founded in 2002 and headquartered at Suite 3, 17 Ord Street, West Perth, the company conducts all operations exclusively in Western Australia, a premier global mining jurisdiction. Recent developments include the execution of an Option Agreement with Norton Goldfields on July 23, 2025 to support the Mt Forrest joint venture; a Placement raising funds announced July 10, 2025 alongside secondary trading notices and unquoted securities notifications; multiple proposed issues of securities and option terms in July-September 2025 to bolster exploration capital; receipt of a $1.12 million R&D rebate; release of 1 million fire-assay results and second-phase exploration at Meekatharra North; quarterly activities and cashflow reports through October 2025 confirming ongoing drilling and project advancement; and annual reporting alongside governance updates as of September 30, 2025.