Mindax is an emerging Mining House. It has an impressive portfolio of key commodity projects for iron ore, gold, uranium and copper. Each of the projects is based in Western Australia and Mindax’s corporate office is based in Perth.
Mindax’s strategy is to build a Mining House for key commodities which rewards shareholders well.
The Company is now building on previous exploration successes to develop projects through the development pathway to full production and in doing so increase shareholder value.
Mindax’s flagship project is the Mt Forrest iron project in the Yilgarn province. This is a world scale iron ore resource. The Company has over 1.7billion tonnes JORC resource which contains 14.7Mt DSO and the balance as a large Magnetite resource. There are also several prospective areas which have not yet been drilled. A positive scoping study was issued in April 2012. Subject to available funding and successful progress along the development pathway, first DSO mining will occur in the second half of 2014, with first sales by the end of that year. The Company owns 100% of the Mt Forrest project.
Mindax has discovered a new Greenfield uranium province near Mukinbudin in the Yilgarn Avon region. A maiden 3.2Mlb JORC resource has been established from scout drilling. There is Sandstone hosted Uranium mineralisation from which the uranium can be extracted by simple, environmentally friendly and low intrusive in-situ recovery using small diameter (<0.5M) bores. st. There is considerable prospectivity in this area. Proof of Concept drilling is planned for 2013. The company owns 78% of the project in a Joint Venture with strategic partner Quasar who operate the Beverley uranium mine in South Australia.
The Company has a highly prospective gold project at Meekatharra in a region which is well known for gold. Mindax announced a new Farm-in agreement with Messrs Zhuang in October 2012 for $2.5M of funding over 3 years. The company will dilute down from 100% to 49% ownership in that period. Ground Surveys are planned to commence Jan 2013 followed by targeted drilling in the first half of 2013.
Mindax has an exploration project for copper (and gold) at Mortlock. From initial scouting work, four priority targets have been identified. A drill program is planned for the first half of 2013. The Company owns 78% of the project in a joint venture with Quasar.
The Company continues to seek appropriate sources of funding to enable its projects to be advanced.