Mindax (ASX: MDX) non-executive chairman Gilbert George has increased his shareholding by 35,800 shares.
George purchased 6,000 shares at $0.135 per share on 4 January and 29,800 shares at $0.145 on 5 January for a total consideration of A$5,131. He now holds 4.2 million shares in Mindax.
Mindax recently enhanced the mining case for its Mt Forrest Iron Project in Western Australia with metallurgical test work unlocking the direct shipping ore potential of the project and returning grades of above 63% iron.
The company also delivered a 20% upgrade to the Indicated and Inferred regolith iron Resource at Mt Forrest which now stands at 14 million tonnes at 45.3% iron.
Another defining factor of the project is the potential for a further significant resource upgrade with up to 10 kilometres of untested strike length of greater than 40% iron awaiting further exploration.
The company is making solid progress on approvals, infrastructure planning and negotiations with infrastructure providers with the aim to mine DSO in 2013 and magnetite in 2015.
Originally published at: http://www.proactiveinvestors.com.au/companies/news/23923/mindax-non-executive-chairman-tops-up-shareholding-23923.html
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