MDX - Mindax Limited

[YOUNG_TRADER]

The top Haematite target appears to be 750m's by 2kms

To be say 100Mt's youd need 750x2000xDEPTHx3.5(assumed sg)=100Mt

So you'd only need a thickness of 20m's for it to be a 100Mt Haematite target,

I so underestimated the potential of MDX,

Holding some from when I first posted, looks like I'll put em in the bottom draw and see where MDX ends up in 6months


Also resized map so its bigger, hard to see the last one

 

[Synergy]

This has slightly brightened up a somewhat dull week for me. 10c shares suddenly look pretty good. A well timed find.

 

[petervan]

Great spot up YT, just bought in and great ground work on JMS. 2 stock with potential plus Fantastic maps on the JMS thread.

 

[juw177]

Sorry but I dont know how significant this announcement is and was wondering if YT will elaborate.

I bought in because of the support around 13c not knowing about this announcement hehe.

 

[roland]

mmm, guess I better post off my cheque for the 10 cent shares. I have the options now in my Comsec account, but not sure what I need to do with them. I understand that I can trade them on MDXR - but what is the catch? Do I have to pay for them somewhere down the track? Do I have to do anything within any time frame??

Sorry to sound dumb on this, I have never come accross rights or options before.

 

[YELNATS]

Guys MDX has released an amazing an today

"significant areas of magnetite mineralisation associated
with the outcropping iron formation has been highlighted by
the aeromagnetic data particularly around the fold closure.
The magnetic anomalies extend over 17km and range
across 250m on the east limb to 2,000m on the west
limb."

I was stunned when my ambitious MDXR sell order filled at 0.056 today. I still hold MDX. Looks like a bright future for Mindax.

 

[spottygoose]

mmm, guess I better post off my cheque for the 10 cent shares. I have the options now in my Comsec account, but not sure what I need to do with them. I understand that I can trade them on MDXR - but what is the catch? Do I have to pay for them somewhere down the track? Do I have to do anything within any time frame??

Sorry to sound dumb on this, I have never come accross rights or options before.

MDXR are just the rights whereas MDXOA are the options. Today is the last day you can trade the rights so you either send away your cheque to take up your rights, sell them today on market or lose them. You need to have your acceptance and cheque in by November 30. Hope this helps and hope I got it right.

 

[YOUNG_TRADER]

Well the volume is certainly there but I get the feeling that the rights issue is holding it back a bit, still IRM run off a similar announcement from 14c to 60c so I guess anythings possible,


Hey Yelnats and other rights holders, so you know each right gives you the ability to buy apply for a share at 10c and you will also get half a free option MDXOA

So for example 100k rights will allow you to apply for 100k shares at 10c and get 50k free options, so I'd sell the shares and exercise the rights, cause its kinda like arbitrage, but thats just me

 

[roland]

MDXR are just the rights whereas MDXOA are the options. Today is the last day you can trade the rights so you either send away your cheque to take up your rights, sell them today on market or lose them. You need to have your acceptance and cheque in by November 30. Hope this helps and hope I got it right.

Sorry, still haven't quite got my head together on this. If I send in the cheque, then I don't have to do anything with the rights - is this correct?

 

[YOUNG_TRADER]

Sorry, still haven't quite got my head together on this. If I send in the cheque, then I don't have to do anything with the rights - is this correct?

Call the company mate, or your broker (even if its an online broker they can help) or even the relevant share registry, don't rely on us as we may have it wrong

 

[roland]

So, the MDXR is my offer of the 10 cent shares that I can trade away if I don't want to send in a cheque and get real shares? Why are the 0.10 rights selling for 0.06 ?

 

[gfresh]

Roland: You would need to look at the difference between buying the shares at the current price (18c right now), and the 10c via placement. I believe this is how you would calculate the value difference of MDXR .. and deciding whether they were worth keeping (via sending off the cheque) or selling them.

For an example, I have 12800 MDXR @ 0.06 = $768. If I bought 12800 of MDX on market now @ 18c = $2304.. Under placement I have to spend $1280 (12800 x 0.10) to get the shares at 10c. Profit difference between 10c, and say 18c ( theoretically, assuming price was constant to when i received the shares in my account) = 12800 x 0.08 = $1024. Therefore 12800 of MDXR valued at $0.06 (current) is worth $768, but if I went through cheque sending, etc I could receive a profit of $1024.. We are assuming here of course price stays constant at 18c, which is not too likely. May be more,less, who knows. Hopefully I am correct with my assumptions here, anybody feel free to correct.

Indeed great news.. while I was indeed getting nervous at the 13c mark, looks like my perseverance has paid off Taken some profits, and let the rest stay until drilling.

My cheque's already in the mail for those tasty 10c shares, so I decided there yesterday.. If MDX can at least consolidate now around 18-20c this should be good for holders once drilling is undertaken next year. But likely to taper off (as has any iron ore stock after a positive ann), with results likely to be 1-2 months off at this stage.

 

[Synergy]

because you pay for the rights at 6c, then the shares for 10c = 16c.

But i'm not so experianced in this either, so i'm learning along the way also.

 

[YELNATS]

Well the volume is certainly there but I get the feeling that the rights issue is holding it back a bit, still IRM run off a similar announcement from 14c to 60c so I guess anythings possible,


Hey Yelnats and other rights holders, so you know each right gives you the ability to buy apply for a share at 10c and you will also get half a free option MDXOA

So for example 100k rights will allow you to apply for 100k shares at 10c and get 50k free options, so I'd sell the shares and exercise the rights, cause its kinda like arbitrage, but thats just me

Yeah YT, I guess you're right.

I'd put in my MDXR sell order a while ago and forgotten about it. Unfortunately I can't buy back any MDXR later today as I had zero in my broker account and I've bought other stocks today on credit, on T+3. Oh well!

 

[roland]

because you pay for the rights at 6c, then the shares for 10c = 16c.

But i'm not so experianced in this either, so i'm learning along the way also.

Actually, I think I may have worked this out.

We are offered the option of picking up 1 share for every 5 shares we own at 0.10, plus we get half as many options (I think they were 0.03) which I am not sure what to do with yet.

We have the choice of buying the additional 0.10 shares, or we can trade away the offer on MDXR if we don't want to spend any more dollars. The option of trading them finishes today, but we have until the 30th to get the cheque to them.

 

[spottygoose]

Actually, I think I may have worked this out.

We are offered the option of picking up 1 share for every 5 shares we own at 0.10, plus we get half as many options (I think they were 0.03) which I am not sure what to do with yet.

We have the choice of buying the additional 0.10 shares, or we can trade away the offer on MDXR if we don't want to spend any more dollars. The option of trading them finishes today, but we have until the 30th to get the cheque to them.

I reckon you've got it. If you have the cash and are happy to hold then you should consider sending your cheque away.

 

[roland]

Do the traders picking up MDXR still have to pay an additional $0.10 to have them converted to real shares? I suppose that is why they are around $0.10 different in price to the MDX SP.

Yes, someone mentioned that already - see I learnt something

 

[YOUNG_TRADER]

Actually, I think I may have worked this out.

We are offered the option of picking up 1 share for every 5 shares we own at 0.10, plus we get half as many options (I think they were 0.03) which I am not sure what to do with yet.

We have the choice of buying the additional 0.10 shares, or we can trade away the offer on MDXR if we don't want to spend any more dollars. The option of trading them finishes today, but we have until the 30th to get the cheque to them.

He he he, you got it mate,

The key is the rights were technically free, so either way your making money so long as you do something, ie don't just let em expire worthless

 

[stefoid]

todays ann is magnetite, not hematite - they are talking magnetite 'concentrates'. thats not good, is it? hematite is the stuff you want.

 

[YOUNG_TRADER]

todays ann is magnetite, not hematite - they are talking magnetite 'concentrates'. thats not good, is it? hematite is the stuff you want.

Mate it beens a loong week, so I'll say this as politely as I can,

are you f#$king blind?

See the big pic/map I posted, see the words Haematite

Its Magnetite and Haematite, pls read more carefully