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MDX - Mindax Limited
- Thread starter YOUNG_TRADER
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- mdx mindax limited
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
I see the words 'potential haematite' - the only preliminary testwork they have done is on magnetite. Still, FDL gets away with potential so why not this co
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DSO haemitite is superior as it can just be dug up and shipped off to steel works without much ado.
Magnetite has to be crushed on site and concentrated = thus higher Capex. No problem with large magnetite deposits - see GBG, AGO.
This one down at 13c was painful. Good ann & glad I hung on there. Just sent off the cheque too. Might prove to be a good entry price. Amazing how some positive price action can galvanise me into action.
Gfresh - did you get your pictures from the DOIR website?
no expert, but its not as simple as that - the 'concentrate' is a slurry that has to be piped to its destination, or made into pig iron on site.
correct if wrong.
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Your right mate magnetite is not a simple game,
Haematite is much much more simple and as I have pointed out the company may have a large Haematite target,
And yes as you correctly acknowledged potential was enough for FDL and as I said it was also enough for IRM,
For me, I'll wait for drilling results before I get too excited, I am amazed at how much I underestimated MDX when I first saw it and posted
p.s. judging by my grammar and poor speeeling I'd say its time to call it a day, brain switching off
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Correct - sorry did not believe we were getting into a technical discussion about it. Slurry is one of the means of transportation. Capex can be large. Check out the GBG Kararra Mining Study if you want an example. Not an expert on mine construction and infrastructure by the way. Sure there are other, more qualified posters.
Bit early to be worrying about mining methods though. My point was that magnetite deposits can be economic. This is still the early exploration stage where drilling is all important.
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Bl**dy annoyed by today's ANN.
I have been busily (and quietly) accumulating all week to add to my existing pile of MDX/OA and was looking foreward to buying even more at low prices.
All my plans lie in ruins now
:-(
EB
I have been busily (and quietly) accumulating all week to add to my existing pile of MDX/OA and was looking foreward to buying even more at low prices.
All my plans lie in ruins now
:-(
EB
this doesnt only apply to mdx specifically, but I dont think the technical and $$ difficulties associated with magnetite can be underestimated. I mean, does any comany in australia currently make money from magnetite? even one company?
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Re: MDX - Mindax & Magnetite
If anyone is interested here is a little more reading on Magnetite
CSIRO Process Magazine October 2004
AUSTRALIA’S SIGNIFICANT MAGNETITE
resources could hold the key to further expansion of Australian iron ore
production and potentially help supply Asia’s current and emerging iron ore and
steel markets.
The potential is underlined by OneSteel’s recently announced plans for
a $250 million project to convert its Whyalla Steelworks in South Australia to
produce steel from magnetite.
But despite the robust picture of accelerating sales and increasing
demand for iron ore – primarily from China – Australia’s magnetite resources,
and their international market potential, remain largely untapped, according to
Ralph Holmes, Iron Ore Program Manager at CSIRO Minerals.
“Awareness of our magnetite resources and our two current operational pellet
plants is low among the main market – the steel industry within China and
within Asia generally,” Dr Holmes says. CSIRO Minerals has been investigating
magnetite deposits and prospects in Australia for some time. The work has
been driven by the increasing level of overseas interest in magnetite ore, as
well as indications that demand for hematite/goethite iron ores (the current
primary sources in Australia), well outstrips supply.
CSIRO presented a profile of Australia’s current and prospective magnetite
resources to the Chinese at a recent major industry conference in Dalian as
part of the ongoing effort to build awareness of potential opportunities.
Magnetite ore is a well-known, viable alternative to hematite/goethite ores. It
can be beneficiated to produce highgrade concentrate suitable for either
pellet or sinter production.
“Magnetite concentrate is a very important feedstock for pellet production,”
explains Dr Holmes. “It is characterised by high iron grade and lower impurities, the benefit of the exothermic magnetite-to-haematite
oxidation reaction and the production of quality pellets at lower firing
temperature with less fuel and lower maintenance costs.
“As more pelletising capacity is currently being put into operation, or is
under construction in China, there is a strong demand for pellet feedstock.
“However, while it is common knowledge that Australia has abundant
hematite and goethite sinter fines and lump ores for the blast furnace, few
Chinese steel companies are aware of our magnetite resources.”
There are more than 20 identified magnetite deposits and prospects,
mostly in Banded Iron Formation (BIF), located across South Australia,
Western Australia, Queensland and Tasmania.
These amount to an estimated 4.7 billion tonnes of magnetite resources in
Western Australia, 1.6 billion tonnes in South Australia and about 700 million
tonnes in Tasmania and Queensland. Australia has one operational magnetite
mine at Savage River in Tasmania (owned by Australian Bulk Minerals),
which currently has estimated reserves of 227 million tonnes of magnetite ore.
The Iron Magnet Deposit (about 50 kilometres west of Whyalla in South
Australia), soon to be developed by OneSteel, has an estimated reserve of 300 million tonnes of magnetite ore.
CONTACT: Ralph.Holmes@csiro.au
If anyone is interested here is a little more reading on Magnetite
CSIRO Process Magazine October 2004
AUSTRALIA’S SIGNIFICANT MAGNETITE
resources could hold the key to further expansion of Australian iron ore
production and potentially help supply Asia’s current and emerging iron ore and
steel markets.
The potential is underlined by OneSteel’s recently announced plans for
a $250 million project to convert its Whyalla Steelworks in South Australia to
produce steel from magnetite.
But despite the robust picture of accelerating sales and increasing
demand for iron ore – primarily from China – Australia’s magnetite resources,
and their international market potential, remain largely untapped, according to
Ralph Holmes, Iron Ore Program Manager at CSIRO Minerals.
“Awareness of our magnetite resources and our two current operational pellet
plants is low among the main market – the steel industry within China and
within Asia generally,” Dr Holmes says. CSIRO Minerals has been investigating
magnetite deposits and prospects in Australia for some time. The work has
been driven by the increasing level of overseas interest in magnetite ore, as
well as indications that demand for hematite/goethite iron ores (the current
primary sources in Australia), well outstrips supply.
CSIRO presented a profile of Australia’s current and prospective magnetite
resources to the Chinese at a recent major industry conference in Dalian as
part of the ongoing effort to build awareness of potential opportunities.
Magnetite ore is a well-known, viable alternative to hematite/goethite ores. It
can be beneficiated to produce highgrade concentrate suitable for either
pellet or sinter production.
“Magnetite concentrate is a very important feedstock for pellet production,”
explains Dr Holmes. “It is characterised by high iron grade and lower impurities, the benefit of the exothermic magnetite-to-haematite
oxidation reaction and the production of quality pellets at lower firing
temperature with less fuel and lower maintenance costs.
“As more pelletising capacity is currently being put into operation, or is
under construction in China, there is a strong demand for pellet feedstock.
“However, while it is common knowledge that Australia has abundant
hematite and goethite sinter fines and lump ores for the blast furnace, few
Chinese steel companies are aware of our magnetite resources.”
There are more than 20 identified magnetite deposits and prospects,
mostly in Banded Iron Formation (BIF), located across South Australia,
Western Australia, Queensland and Tasmania.
These amount to an estimated 4.7 billion tonnes of magnetite resources in
Western Australia, 1.6 billion tonnes in South Australia and about 700 million
tonnes in Tasmania and Queensland. Australia has one operational magnetite
mine at Savage River in Tasmania (owned by Australian Bulk Minerals),
which currently has estimated reserves of 227 million tonnes of magnetite ore.
The Iron Magnet Deposit (about 50 kilometres west of Whyalla in South
Australia), soon to be developed by OneSteel, has an estimated reserve of 300 million tonnes of magnetite ore.
CONTACT: Ralph.Holmes@csiro.au
So it was the last day for those wanting to sell 40% of their stock safe in the knowledge that they will get them back at 10c with the rights (plus the option).
So the higher MDX went the more selling we got until the sellers won...
That will no longer be the case on Monday - this should in theory show with a much weaker sell side from Monday onwards.
So the higher MDX went the more selling we got until the sellers won...
That will no longer be the case on Monday - this should in theory show with a much weaker sell side from Monday onwards.
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So perhaps i should hold this one till the drilling report comes out and just accept that ill lose some money on monday(bought for 20c and got greedy) If this goes well could 150Mt be a avereage estimate? Maybe even comparable to FDL (or not)
(bought for 20c and got greedy) If this goes well could 150Mt be a avereage estimate? Maybe even comparable to FDL (or not)
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Hmm just going over AGM speech and found something interesting
"Our recent sampling and test work on the 17km of outcrop in the Richardson Ranges has identified 5 positions prospective for hematite and a substantial magnetite position. The low phosphorous levels across our deposits compared with many other Mid West deposits indicate the ore may be attractive as a blending material. The limited test work on the magnetite also indicates that beneficiation would produce a very marketable product.
Our work to date confirms this is an exciting addition to our portfolio of projects and we will be focussing considerable effort on drilling and further sampling in the coming year.
Our positive view of this project is shared by a number of overseas interests who have made unsolicited approaches to us in the past few months, and we will continue to monitor all options."
Interesting,
Seems very cheap when compared to IRM, but thats the mkt
"Our recent sampling and test work on the 17km of outcrop in the Richardson Ranges has identified 5 positions prospective for hematite and a substantial magnetite position. The low phosphorous levels across our deposits compared with many other Mid West deposits indicate the ore may be attractive as a blending material. The limited test work on the magnetite also indicates that beneficiation would produce a very marketable product.
Our work to date confirms this is an exciting addition to our portfolio of projects and we will be focussing considerable effort on drilling and further sampling in the coming year.
Our positive view of this project is shared by a number of overseas interests who have made unsolicited approaches to us in the past few months, and we will continue to monitor all options."
Interesting,
Seems very cheap when compared to IRM, but thats the mkt
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Hi YT... I saw that line as well. It would seem the nameless overseas interests are more positive about MDX than the Australian share owning community.
Never mind.
At least I can accumulate more at these levels.
EB
Never mind.
At least I can accumulate more at these levels.
EB
Have been watching this one for awhile and seems a great price now to get in, so much potent ional, off its highs of 20+ seems cheap now. Hit 12c today but all on low volume. I guess if you got in high you could be panicking a bit but must be at a bottom here. Anyone have any news on this one -
Holding zfx, oxr, irc, sot, iag, fnt...
Anyone have any news on this one - Holding zfx, oxr, irc, sot, iag, fnt...
Have been watching this one for awhile and seems a great price now to get in, so much potent ional, off its highs of 20+ seems cheap now. Hit 12c today but all on low volume. I guess if you got in high you could be panicking a bit but must be at a bottom here.
Holding zfx, oxr, irc, sot, iag, fnt...
u might see this one go even lower once the rights issues r all converted, which is happening next week I think. I dont think there are any significant news coming out for another 3mths or so.
I don't think many would bother selling their rights issue shares for close to 12c, when purchased at 10c.
I think around the 12-15c mark is a bit of a floor for a while.. Many, including myself will be trading this range if possible, which is a good 10-25% profit each go.
I think around the 12-15c mark is a bit of a floor for a while.. Many, including myself will be trading this range if possible, which is a good 10-25% profit each go.
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I agree by the looks of the chart 10-12 cents looks like a solid base. hopefully the company can get hold of the rig they have been looking for. goodluck for 2008
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Red Rock Resources become major shareholders.
this must be a good sign.
Now will just need the rig for a good 2008.
this must be a good sign.
Now will just need the rig for a good 2008.
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Yeah saw that Pan,
Whats interesting is that Red Rock bought on market, not via the placement/rights and their avg price was 13.5c
Very interesting
Whats interesting is that Red Rock bought on market, not via the placement/rights and their avg price was 13.5c
Very interesting
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what you may not know - because it is not immediately apparent - is that Red Rock are also largest shareholder in RSL - newly formed Uranium Explorer Chaired by Andrew Bell (AIM listed: Red Rock Resources & Regency Mines Chairman) & Headed by Ian Scott (ex Olympic Dam Uranium Guru)
http://www.rrrplc.com/
http://www.regency-mines.com/
Also note that RSL has uranium interests in the same Mt Alfred tenement
this article appeared on Minesite yesterday.
http://www.mineweb.com/mineweb/view/mineweb/en/page674?oid=43724&sn=Detail
See my post on RSL thread post 28
https://www.aussiestockforums.com/forums/showthread.php?t=9084&highlight=retail+star&page=2
http://www.rrrplc.com/
http://www.regency-mines.com/
Also note that RSL has uranium interests in the same Mt Alfred tenement
this article appeared on Minesite yesterday.
http://www.mineweb.com/mineweb/view/mineweb/en/page674?oid=43724&sn=Detail
See my post on RSL thread post 28
https://www.aussiestockforums.com/forums/showthread.php?t=9084&highlight=retail+star&page=2
