Mindax: Launches $2.08M entitlement offer
- Junior explorer Mindax (MDX) is tapping investors for $2.08 million while its shares remain suspended
- The company’s shares haven’t traded since late-June 2019 due to lack of compliance with certain ASX listing rules
- Nevertheless, the company has launched a two-for-five entitlement offer today, with new shares worth 0.5 cents each
- The funds will be used to progress Mindax’s Mt Forrest Iron Project and re-assess its Meekathara Gold Project
- Since October 29, 2019, Mindax has issued over 90 million shares at half a cent each to keep cashflow steady
- Mindax shares last traded almost 12 months ago for 0.3 cents each
