MDX: Norton not to Proceed to Third Earning Condition

MINDAX LIMITED

• Norton will not proceed to the completion of the Third Earning Condition (PFS) for the Mt Forrest Iron Project.
• As a result, Mindax will have greater control over appointments to the board of Yilgiron, with Norton reducing its representation.
• Mindax will now review further development opportunities for Mt Forrest, including seeking alternative joint venture partners.

2023-06-01 14:58:00

MDX: Mt Forrest Fe Project Yilgiron advises 2nd Milestone met

MINDAX LIMITED

• Mindax Limited announces that the Second Earning Condition of the Mt Forrest Iron Project joint venture has been satisfied.
• Yilgiron Pty Ltd's final report identifies an Indicated Mineral Resource of at least 380 million tonnes of magnetite at 32.6% Fe, with SRK estimating 422 Mt @33.37% and Inferred Mineral Resource of 599 Mt @ 33.59% Fe.
• Norton Gold Fields Pty Ltd's shareholding interest in Yilgiron will increase to 35.0% from 19.9% as a result.

2023-05-26 09:54:00

MDX: Update to Mt Forrest Scoping Study Delivery

MINDAX LIMITED

1. Mindax Limited announced the binding heads of agreement with AGI Operations Pty Ltd and Yilgiron Pty Ltd.
2. The HOA covers workstreams for the preparation of studies to understand the feasibility and costs associated with the development of infrastructure for the commercially viable export of iron ore from the Mid West of Western Australia.
3. The Scoping Study is now due to be delivered by 31 January 2023.

2023-01-06 14:31:00