Mindax Limited (ASX: MDX) has released its quarterly activities report for the period ended 30 September 2025. Mindax is focused on iron ore and gold exploration and development in Western Australia. The report highlights ongoing efforts to advance the Mt Forrest magnetite iron ore project and the Mid-West Shared Infrastructure Project.
A key development during the quarter was the execution of an Option Deed with Norton Gold Fields to potentially acquire Norton’s 35% stake in the Mt Forrest project. Mindax is actively exploring opportunities to consolidate iron ore interests in the region. The company also continues to engage with potential stakeholders to explore collaborative pathways for the Mid-West Shared Infrastructure Project, aimed at supporting miners in the Mid-West with ore transportation from mine to port.
Mindax successfully raised $1.6 million through the placement of fully paid ordinary shares. This capital injection will provide working capital to accelerate project development. During the quarter, the company also issued shares and options to consultants for a technical and economic assessment of the Mt Forrest Iron Project, which will help in strategic partnerships and development opportunities.
The company is also advancing its gold projects, with a focus on refining drill targeting at the Mt Lucky Gold Project through a comprehensive structural and mineralogical interpretation. Mindax held a total of ten tenements as of 30 September 2025, covering more than 70 km2 of mining lease and exploration license area. The company’s strategy remains focused on exploring its existing projects and pursuing new opportunities to enhance shareholder value.
