Hopefully 2013 is a more productive year for Mindax. I'm looking...

Hopefully 2013 is a more productive year for Mindax. I'm looking forward to the next round of drilling at Mt Forrest to see if we can increase the DSO resource substantially as this may give us an advantage over some of the others in the Yilgarn. Magnetite is looking unlikely anytime soon as no one is going to spend billions of dollars on a processing plant to be able to export 5MTpa or less, however spending under $100 million to achieve 2-3MTpa is more likely and if we can increase our DSO, this should put us back on the radar of someone with the funding to get us to production.

The wildcard may be gold as Meekatharra - we are 2km along strike from Doray Minerals and in a known gold area. Previous drilling hasnt come up with anything substantial but hopefully its a case of second time lucky.