It is important that people take the time to read company announcements.
The Joint Venture with Norton Gold is $20m for 19.9% of the Mt Forrest Iron Ore project and the $20m goes towards funding of exploration works at it.
Going by this, Norton Gold value the Mt Forrest project at $100m so Mindax’s 80.1% stake is therefore worth $80m only according to the figures in this JV.
Cant value their gold project until drill results come back as drill results completed in 2013/2014 were a bit hit and miss.
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