Mindax Raises $1.6M After $516K Operating Cash Burn in Q2 2025

Quarterly Cash Flow Overview

Mindax Limited’s latest quarterly cash flow report for the period ending 30 June 2025 reveals a company still in the throes of heavy investment and operational expenditure. The mining exploration entity recorded a net cash outflow from operating activities of A$516,000, reflecting ongoing costs associated with exploration, evaluation, and corporate overheads.

Investing activities were particularly cash-intensive, with A$5.62 million spent primarily on exploration and evaluation assets. This level of investment underscores Mindax’s commitment to advancing its resource base, though it also highlights the capital-intensive nature of mining exploration at this stage.

Financing and Liquidity Position

On the financing front, Mindax generated A$1.51 million in cash inflows, partially offsetting the outflows from operations and investing. Notably, following the quarter’s end, the company successfully raised an additional A$1.6 million through a share placement, as approved by shareholders in early July. This capital injection provides a much-needed liquidity buffer, bringing the company’s cash and cash equivalents to A$1.319 million at quarter’s end.

Mindax reported no drawn financing facilities and no unused credit lines, indicating a reliance on equity funding rather than debt at this juncture. Payments to related parties amounted to A$153,000, consistent with typical corporate governance disclosures.

Looking Ahead

The company’s estimated cash available for future operating activities stands at A$1.319 million, with no additional financing facilities on hand. While the recent placement bolsters Mindax’s financial runway, the ongoing cash burn from exploration and evaluation activities suggests that further capital raising or operational milestones will be critical to sustain momentum.

Mindax’s quarterly report, signed off by Company Secretary Dennis Wilkins, complies fully with ASX Listing Rule requirements, providing transparency to investors on the company’s cash flow dynamics and funding status.