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Mindax Limited has an impressive portfolio of projects in iron ore and gold. Each project is based in Western Australia and Mindax’s corporate office is based in West Perth.
Mindax’s strategy is to grow shareholder value through positioning itself for the impending magnetite 'revolution'. The Company is also building on previous exploration successes to develop its gold project.
Mindax’s flagship project is the Mt Forrest iron project located in the Yilgarn province. This is a world scale iron ore resource. The Company has over 1.7 billion tonnes of a JORC resource. There are also several prospective areas which have not yet been drilled.
Chinese steel mills are becoming increasingly hungry for low polluting magnetite rather than DSO and Mindax is strategically moving to plan for this outcome. The Mt Forrest magnetite deposit is well positioned to take advantage of existing or new port capacity on the mid-West coast.
The Company is considering the regional infrastructure concept that has been initiated relating to Mt Forrest and surrounding projects. The aim is to create ‘critical mass’ that would support the establishment of infrastructure to cost effectively transport product to the coast.
The vision is to unlock the value of iron ore assets in the Midwest region of Western Australia through the establishment of large scale infrastructure that would leave a positive legacy and enduring economic benefit to Western Australia, much like the gas pipeline network that has already been established. If a favourable outcome is concluded this would avail an exciting opportunity for the Company to advance the potential development of the Mt Forrest magnetite deposit for the benefit of all shareholders.
Mindax retains a 100% interest in a highly prospective gold project located in the Meekatharra region of Western Australia which is well known for significant gold discoveries. In particular, the Company remains focused on its tenure 2km away from the famous Doray's Andy Well Gold Mine that produced some 300,000 ounces between 2013 and 2017 and hosts a remaining underground resource of over 500,000 ounces of gold.
While the Company remains confident of the exploration prospectivity of the project, the Company’s primary focus is on the regional infrastructure concept relating to the Mt Forrest project.
The Company continues to seek appropriate funding to enable its projects to be further advanced and to date has enjoyed the support of its major shareholders during a difficult and challenging time for the junior exploration industry.
Mindax will continue to engage with all shareholders to ensure the Company works towards achieving its vision with the goal to building sustainable shareholder value.
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