MDX - Mindax Limited

[spottygoose]

Mindax is being very tightly held right now . That ACMC meeting was apparently yesterday so I would be keeping an eye on MDX.

 

[asdfghjkl32]

MDX is pretty strong today, even both BHP and RIO fall back more than 7%, while FMG, FMS, IRM stepped back over 10%. MDX was very strong at the $0.35, perhaps people are buying it coz they knew something before the public.

By the way, the new substantial holder is Mr. Tse, not Mr. Yeung.

 

[pan]

How far away is the JORC??? Have held for a while now, in the green which is good. I definitely think it will be worth the wait, as the stock is tightly held. Considering the slow down of the market you would say that mdx has held up well.

 

[JimBob]

They are still awaiting approval from the ACMC to start drilling at Mt Forrest. The next meeting is 6 August, they hope to have their application dealt with then. If approval is granted, they anticipate drilling to start in August. A JORC wont come until November-December if all goes well. They are expecting results from rock chip samples and a detailed mapping program towards the end of July. In their last announcement, they said that based on these results, they expect to increase their drilling program, so im guessing they are now targetting more than the 90-100MT target they released.

 

[YOUNG_TRADER]

Well it looks like MDX has joined the Iron Ore bandwagon,

Surface and rockchip samples are due soon from the Mt Forrest Bulga Downs project, which is near JMS's Mt Ida,which happens to be where IRM and GNL both recently had some work done,

Given IRM and GNL went to the moon on the back of there limited work/surface samples I think MDX presents a very high risk speculative opportunity

Current Market Cap = $5m

I've grabbed a couple 100k options at 2-2.3c today


This is a very high risk hit or miss play folks

Sold the last of my MDX,

What a profitable Fe punt this was from 8c shares and 1c-2c options

This is why I like the tiny mkt cap specs so much, there really is only one way they can go

 

[JimBob]

Mindax has been a very good ride so far, looks like there is still plenty of action left in it though. Red Rock have upped their stake today to 9.67%, Rubicon resources have a 7.14% stake, both companies seem to be working with Pallinghurst who have previously inspected Mindax properties. Buying up before drilling has commenced is a positive sign for the future.

 

[spottygoose]

Sold the last of my MDX,

What a profitable Fe punt this was from 8c shares and 1c-2c options

This is why I like the tiny mkt cap specs so much, there really is only one way they can go

You can certainly pick them YT - well done . Don't forget to check up on MDX though because if/when they get permit approval it will be on for young and old.

 

[JimBob]

Mindax breaking out into new highs, previous high was 42c, currently at 44c and climbing. News expected out this week on Mt Forrest sampling and mapping as well as their Panhandle project. ACMC meeting next week discussing drilling permit approval for Mt Forrest.

 

[YOUNG_TRADER]

Hey Spotty,

Thanks mate,

Now its just a matter of picking the next MDX/ACS/MXR I imagine it won't be that hard really as after I picked JMS/HLX/YML all which had 400%+ growth I thought I wouldn't be able to find anymore ......... BUT hey presto I found MDX/ACS/MXR which have each ahd 200%-400% growth (MXR was more a crazy run but was still there nevertheless)

I am very impressed with MDX today (although the ann after hours suggests some insider trading to me hmmmmm) but still in these savage mkts it has managed to get to new highs is very impressive

Well I am completely out as of mid last week, good luck to all,

Off to my next batch of fundamentally undervalued Fe plays which I hope will follow suit in getting re-rated

 

[asdfghjkl32]

Pretty good rise yesterday, I am guessing Red Rock was pushing the price high, or either the Pallinghurst, but turnover was just about 1.5m, gotta keep an eye on it for the remaining trading hours in this week. Very good shape technically.

 

[dubiousinfo]

It has dropped back again this morning so yesterday may have just been leaking of the announcement issued after the close. Another case of buy the rumor, sell the fact. Holding

 

[asdfghjkl32]

I'm going to top up some more when it fall back to low 30s. Potential to go up higher once they start to drill I reckon...

Anyone know why low sulfur is good for iron ore? I'm not in mining industry.

 

[exberliner1]

YT Well done with MDX but I must say I am suprised you have sold. My take on it is that the action is only just beginning. I have held in varying quantities for about 10 months now and am well set at a nice low entry price.

Were you simply selling into strength to guarantee your multi bagger profits or are you now a bit negative on the prospects for MDX?

Just interested your viewpoint.

Be happy

Greetings from Kiev

EB

 

[YOUNG_TRADER]

Were you simply selling into strength to guarantee your multi bagger profits or are you now a bit negative on the prospects for MDX?

Just interested your viewpoint.

Hey EB,

I'm always happy to leave profits on the table as my strategy has always been make 200-400% then move on to the next one, I have done this with HLX/JMS/YML then round 2 was CUL/ACS/MDX/MXR now I am searching for round 3 stocks to fit this Fe re-rating, so far I have BMY/BFE

So it has nothing to do with what I think of the stock LT, ie I sold YML in the low $1 level, a few weeks later it ran to $3

Its just I like to bank profits and find the next massively undervalued play

 

[ans25]

Maybe YT, no offense but maybe also list the ones you missed out on or are still pending

For every winner there is a loser

 

[YOUNG_TRADER]

Ans he asked me why I sold

Were you simply selling into strength to guarantee your multi bagger profits or are you now a bit negative on the prospects for MDX?

Just interested your viewpoint.

He didn't ask me to list every stock I ever went after, he asked me why I sold my final stake, I didn't want him to think it was because I didn't like MDX's prospects going forward, I wanted to make it clear that it had nothing to do with MDX's fundamentals but rather just how I like to play things

So it has nothing to do with what I think of the stock LT, ie I sold YML in the low $1 level, a few weeks later it ran to $3
Its just I like to bank profits and find the next massively undervalued play

I feel my response made it pretty clear that it was all to do with picking low cap stocks waiting for an appreciation and then moving on

As far as Iron Ore plays go I have pretty much listed every stock I have gone after bar DMM because to me that falls into a different LT category

 

[metal guru]

Always good to take a profit.

I think Pallinghurst continue to buy - at least that is what i am reading from the volumes and they appear to be able to get some quantity.

It may run further, but no one is going to overpay, so it as likely that they will pick up loose stock whilst its around trying not to drive up the price.

Plenty of time.

 

[exberliner1]

Thanks YT ... sensible approach you have there. I have the "greedy hat" on at the moment and will hold MDX until we get some sensible results from the Fe tennements.

EB

 

[Whiskers]

Hey EB,

I'm always happy to leave profits on the table as my strategy has always been make 200-400% then move on to the next one, I have done this with HLX/JMS/YML then round 2 was CUL/ACS/MDX/MXR now I am searching for round 3 stocks to fit this Fe re-rating, so far I have BMY/BFE

So it has nothing to do with what I think of the stock LT, ie I sold YML in the low $1 level, a few weeks later it ran to $3

Its just I like to bank profits and find the next massively undervalued play

Good going there YT.

I had this one on my watch list, but missed the kick off and forgot about it until I tried some of this EW stuff on it.

Now I'm beginning to think it's just getting started. If my EW count is correct wave (3) will probably take it to about .64 or even .91 if wave three extends, as I'm led to believe it often does. A five wave target about $1.20 to $1.30 in a few months, I suppose.

Gotta read up a bit more on the fundamentals now. Should be a lower degree corrective wave 2 coming any day, which would be a good cue to get in.

 

[JimBob]

There has been a lot of accumulation happening at 45-46c in the past few days, just off all time highs of 47c. News from the ACMC meeting regarding drilling at Mt Forrest cant be too far away.