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MDX - Mindax Limited

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Nyden said:
Perhaps you just need to wait? How long have you held them? They probably just need to get your details on the books, or something :

I assume those of you who still haven't gotten them are still CHESS sponsored, yes? Or through a broker?
Click to expand...

I've held them since the 24th of October, and yes I am CHESS sponsored. So I suppose I should just be patient and quit whinging/worrying
 
A number of posters over on HC has spoken to Greg Bromley about the share sales.

He said that the shares sales were made by Plateau Resources of which GB is a beneficiary but over which he has no control.

Greg Bormely is an approachable fellow...I have spoken with him before and he has always replied to my emails within one day.

If any of you want clarification on the shares sales by Plateau resources then speak to Greg...or email him.

GB has also said that the Fe results should be out by Friday.

EB
 
some more stuff on the Director (no) share sales ... also posted on HC.

________________


On the face of it the recent Director sales in MDX and MDXOA look a bit depressing - however on further analysis on what was sold we are left with the following:


Nicholas Smith

Sold 400k MDXOA leaving him

MDX 2,316,000
MDXOA 32,500

Mr Smith has sold no shares

__

Greg Bromley

Has sold no shares or options

__

Gilbert George

Sold 200k MDXOA leaving him

MDX 1,391,250
MDXOA 360,625

Mr George has sold no shares

__

Direct net sales by directors therefore:

MDX - nil
MDXOA 600k

It would be safe to assume that the directors have reduced their MDXOA holdings to help pay for the take up of rights that only accrue to the heads.

The confusion seems to have been caused by Plateau Resources.

Plateau Resources has sold

MDX 3,900,000
MDXOA 2,000,000

Greg Bromley is a director of Plateau Resources but only holds 14.29% of the voting rights. Consequently the decision to sell the MDX stock was not his. In other words he was outvoted by the other members of Plateau's board who for whatever reason did not want to pay for the 2 for 5 rights issue and thus sold to avoid dilution.

The stock sold by Plateau was sold last week.... the sales have already been absorbed by the market and so do not sit there as an overhang.

Bearing in mind the directors have sold no stock I think today's reaction was substantially overdone. A little bit of reading might have uncovered the real situation.

I hope that clears things up a bit while we await the Fe and Au results.

EB
 
Any one watching MDX .. seems to be a lot more interest all of a sudden rest of the market is down and MDX is back up to 18c ..?!?!

Perhaps something to do with results coming out ?! ..
Perhaps I should get on my rights..
 
You can bet it will be the punters getting set for the announcement due out late today or tomorrow. Most likely tomorrow, as today is a red day.
 
adobee said:
Any one watching MDX .. seems to be a lot more interest all of a sudden rest of the market is down and MDX is back up to 18c ..?!?!

Perhaps something to do with results coming out ?! ..
Perhaps I should get on my rights..
Click to expand...

I know whats going on here?

Either news is leaking (as it usually does) or punters/traders are getting carried away (as they usually do)

I'm confused (as I usually am) :
 
Poor YT, it must be terrible being young, loaded and having a flair for investing

If you ever need a break from this im sure you could take a holiday...
 
I was also thinking (likewise to the above) that the selling is really just options, which does not matter too much. This makes sense for a major option holder, seeing as there will be a stack of options coming onto the market under the 1 ordinary for 5 option deal. This would cause dilution for any existing options held, and would be a good reason to sell held options.

Rumours on another forum suggest the announcement should be out tomorrow.
 
gfresh....most MDXOA traded at 5c today....it was only pushed down to 4.2 by one punter selling 100k ($4K's worth) at 4.3 and 4.2.

MDXOA have held up very well over the last week with very few sellers letting any go below 5c.

EB
 
Well it looks like MDX has found IRM type Heamatite results at its adjacent Iron Ore prospect

Be interesting to see how it trades today


MT FORREST IRON, BULGA DOWNS
HIGHLIGHTS
· Preliminary surface sampling returns significant
high grade hematite.
· Four primary targets defined for follow-up and drill
testing.
· Preliminary test work initiated on magnetites
through the area.





Mapping and reconnaissance sampling of the extensive iron
formation through the Richardson Ranges at Mt Forrest has been
completed. A total of 167 samples were collected on nominally
500m spaced traverses across a multiplicity of individual iron units.
This geology and sampling data has been integrated with
aeromagnetic data. The work has successfully identified four
primary target areas where surface iron grades exceed 55% Fe.·

Target Fe1 lies on the uppermost iron unit of the syncline,
an equivalent position to the Mt Richardson hematite
mineralisation to the south and is 2600m long with
surface widths of 40 to 70m.

· Target Fe2 is also on the uppermost iron unit, centred
3.7km north of Target Fe1 and extends over 1250m in
length with similar widths to those at Target Fe1.

· Target Fe3 is on the lower western contact and extends
over 1600m with widths of around 100m.

· Target Fe4 is internal to the ironstone package and is
600m long and 45-60m wide.
 
Ann is out on the ASX website. Fe grades in excess of 55% across a wide range of mineralisation. 4 distinct zones identfied. Headline assay at 63% Fe. All hematite. Sounds like a good announcement to me. Lets see what the market thinks.
 
From what I have read trading of rights is possible between 5th Nov & 23rd Nov - you can trade these once you have MDXR appear on your position statement ? else you can complete the entitlement and take your shares and options .. So what happens if you cant find your MDXR ??? Can I sell these before they appear in my comsec ?
 
g'day do you guys believe that todays annoucement has already been absorbed by the market or the market is yet to absorb the information? looking at IRM it bolting in one day any thoughts?
 
Reply to Adobee


You can trade your rights either through a broker or by calling Commsec to place the order.
 
pan said:
g'day do you guys believe that todays annoucement has already been absorbed by the market or the market is yet to absorb the information? looking at IRM it bolting in one day any thoughts?
Click to expand...

There was no mention of the levels of contaminants. To be honest, I found this very suspicious. What did we find out that we didn't know from the original sampling?
 
Pommiegranite, the original sampling was completely random and the sampling announced today was planned and based on geological formations.

You know what to do if you want more info just call Greg Bromley or email him.

What we have learned is the potential surface area size of the Fe tennements - and that fact that there is Fe there in size.

All along MDx has stated that the Fe tennements are low in contanimants but having said that it would be nice to have clarification of this.

Anyway I will continue to hold awaiting the gold drilling assays...which based on historic grades should be good.

Then let's see what happens to the SP.

EB
 


Ok EB, "Suspicious" was a poor choice of word by me. I should have wrote "disappointed". I just expected more information, that's all.
 

Any idea on the estimated time frame for these gold drilling assays ?

If not i know who to call
 
The quarterly report said the gold drilling results are due early to mid november, so hopefully they are out next week sometime.
 
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