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  • Mindax Gains Substantial Shareholders 0 comments
    Dec 4, 2012 11:10 PM

    Mindax (ASX: MDX) has added Chenfei Zhuang and Zhensheng Zhuang as substantial shareholders following the completion of a A$2.5 million placement to the investors.

    Chenfei Zhuang holds a 6.43% interest, or 14.8 million shares, while Zhensheng Zhuang holds a 7.67% interest, or 17.7 million shares.

    The placement was part of a A$2.5 million farm-in deal for Mindax's Meekatharra North Gold Project.

    The investors can earn up to a 51% interest in the project by spending $2.5 million on exploration over three years.

    Under the farm-in agreement, an initial $500,000 is required to be spent by August 2013 before the first opportunity to withdraw.

    Mindax will continue to manage the tenement and provide technical expertise during the earn-in period.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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