Mindax drilling at the Mr Forrest magnetite project.
Mindax drilling at the Mr Forrest magnetite project.

UPDATE 2.40pm: Mindax says it will raise $1.2 million in a placement to further develop the company's projects and for working capital.

The company will place 15 million new shares at eight cents a share with a free attaching option exercisable at 12 cents a share to sophisticated and professional investors.

The placement will be completed in two tranches.

Mindax shares were steady at seven cents at the close.

The West Australian

Popular videos

Compare & Save

Our Picks

Compare & Save

Follow Us

More from The West