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Mindax Limited (MDX) AI Stock Analysis
Mindax Limited
(ASX:MDX)
The overall score is heavily constrained by the company's poor financial health as a pre-revenue gold explorer with continuous cash burn and no profitability, which is the most significant risk factor. While a debt-free balance sheet provides some stability, it does not compensate for the lack of a viable business model. Moderately bullish technical trends offer a short-term positive signal but are secondary to the fundamental weaknesses. The negative P/E ratio further confirms the lack of investment value at this stage.
Mindax Limited (MDX) vs. iShares MSCI Australia ETF (EWA)
- Market Cap
- AUD 86.18M
- Dividend Yield
- ―
- Average Volume (3M)
- 353.73K
- Price to Earnings (P/E)
- -120.0
- Beta (1Y)
- 0.36
- Revenue Growth
- ―
- EPS Growth
- 46.15%
- Country
- Australia
- Employees
- 0
- Sector
- Basic Materials
- Sector Strength
- 61
- Industry
- Gold
Mindax Limited Business Overview & Revenue Model
Company Description
Mindax Limited, an Australian-based company established in 2003, specializes in the exploration of mineral resources across the country. Its operations are divided into two primary sectors: gold and iron ore. Notable undertakings include the Meekatha...
How the Company Makes Money
Mindax Limited’s earnings are generally expected to be tied to the outcomes of mineral exploration and project development activities, typically through monetising exploration assets (for example, via project sales, farm-outs/joint ventures, or devel...
Mindax Limited Financial Statement Overview
Summary
Financial performance is very weak. The company is pre-revenue with persistent, significant operating losses and negative cash flows, indicating a complete lack of self-sufficiency. The only mitigating factor is a clean, debt-free balance sheet with a reasonable equity base, which provides a short-term runway but does not offset the fundamental lack of profitability.
Income Statement
8Very NegativeBalance Sheet
55NeutralCash Flow
10Very Negative| Breakdown | TTM | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0 | 3,888 | 0 | 2,994 | 0 | 59.96K |
| Gross Profit | -62.42K | -62.42K | -67.70K | 2,994 | -11.46K | 59.96K |
| EBITDA | -2.48M | -2.48M | -2.55M | -2.54M | -1.91M | -1.08M |
| Net Income | -1.63M | -1.63M | -2.85M | -2.28M | -5.57M | 13.42M |
Balance Sheet | ||||||
| Total Assets | 37.64M | 37.64M | 33.93M | 26.73M | 19.32M | 18.98M |
| Cash, Cash Equivalents and Short-Term Investments | 83.12K | 83.12K | 1.32M | 520.04K | 4.63M | 1.68M |
| Total Debt | 0 | 0 | 58.69K | 108.65K | 0 | 0 |
| Total Liabilities | 10.00M | 10.00M | 8.67M | 2.13M | 273.95K | 360.74K |
| Stockholders Equity | 21.07M | 21.07M | 18.61M | 17.68M | 19.05M | 18.62M |
Cash Flow | ||||||
| Free Cash Flow | -1.09M | -1.09M | -1.85M | -4.38M | -2.40M | -965.54K |
| Operating Cash Flow | -1.09M | -1.09M | -1.85M | -1.83M | -1.44M | -965.54K |
| Investing Cash Flow | -2.09M | -2.09M | -5.00M | -2.33M | -1.00M | 208.51K |
| Financing Cash Flow | 1.94M | 1.94M | 7.65M | 57.73K | 5.39M | 1.25M |
Mindax Limited Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:MDX, the sentiment is Positive. The current price of 0.04 is below the 20-day moving average (MA) of 0.04, below the 50-day MA of 0.04, and above the 200-day MA of 0.03, indicating a bullish trend. The MACD of 0.00 indicates Negative momentum. The RSI at 54.30 is Neutral, neither overbought nor oversold. The STOCH value of 76.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:MDX.
Mindax Limited Peers Comparison
Overall Rating
AU:AWJ79Outperform- AU:MDX47Neutral
AU:WCN40Underperform
AU:ODY39Underperform
AU:AAM38Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| AU:AWJ | 79Outperform | AUD 43.22M | 1.79 | 62.41% | ― | 924.01% | 813.19% |
| Sector * | 61Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
| AU:MDX | 47Neutral | AUD 86.18M | -120.00 | -7.64% | ― | ― | 46.15% |
| AU:WCN | 40Underperform | AUD 98.92M | -3.39 | -330.39% | ― | 2800.61% | 1.08% |
| AU:ODY | 39Underperform | AUD 35.32M | -3.79 | -70.12% | ― | ― | -153.85% |
| AU:AAM | 38Underperform | AUD 42.22M | -1.66 | -123.99% | ― | ― | -226.98% |
* Basic Materials Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| AU:MDX | Mindax Limited | 0.04 | -0.01 | -29.41% | |
| AU:WCN | White Cliff Minerals Limited | 0.50 | 0.13 | 34.41% | |
| AU:ODY | Odyssey Gold Limited | 0.03 | -0.00 | -16.67% | |
| AU:AAM | Matador Mining Ltd | 0.03 | -0.01 | -34.09% | |
| AU:AWJ | Auric Mining Ltd. | 0.23 | -0.03 | -11.54% |
Mindax Limited Corporate Events
Mindax Releases Annual Financial Report for FY2026
Mindax Limited is an Australian company listed on the ASX under the ticker MDX. The group is headquartered in West Perth, Western Australia, and maintains its registered and principal offices there, with corporate administration overseen by a nonR...
Mindax plans major share placement to raise fresh equity capital
Mindax Limited has notified the ASX of a proposed issue of up to 114,755,085 new fully paid ordinary shares, to be undertaken as a placement or similar capital-raising transaction. The securities are intended to be quoted on the ASX, reflecting the c...
Mindax seeks ASX quotation for 10.8 million new shares
Mindax Limited has applied for the quotation of 10,780,423 ordinary fully paid shares on the ASX, with the securities to be issued and quoted effective 22 September 2026. The issuance forms part of previously announced transactions and will expand th...
Mindax Plans New Share Placement of 10.8 Million MDX Shares
Mindax Limited has lodged a new Appendix 3B with the ASX outlining a proposed placement or other type of securities issue. The company plans to issue up to 10,780,423 ordinary fully paid shares, with the issue scheduled to occur on 22 September 2026....
Mindax relocates principal place of business within West Perth
Mindax Limited has announced a relocation of its principal place of business within West Perth, shifting its main office operations to Ground Floor, 41 Colin Street, effective 21 September 2026. The move consolidates the company’s presence in t...
Mindax Raises A$3.9m via FIRB-Conditional Convertible Note to Fund WA Exploration
Mindax Limited has secured an additional A$3.25 million through a binding unsecured convertible note with Singapore-based L&Y Investment Holdings, taking its total recent convertible note funding to A$3.9 million. The note carries 10% annual inte...
Mindax secures A$650,000 convertible note to fund WA exploration
Mindax Limited has secured A$650,000 in funding via an unsecured convertible note from investor Chengze Yu, carrying 10% annual interest, a 12‑month term and a fixed conversion price of A$0.033 per share. The note is issued under the company...
Mindax Adds Three Directors and Files Initial Interest Notices with ASX
Mindax Limited has appointed three new directors, Guishi Wang, Yibo Qiu and Teng Zhang, effective 21 August 2026, as part of changes to its board composition. The company has lodged Initial Director’s Interest Notices with the ASX, confirming t...
Mindax refreshes board with new chair and non-executive directors
Mindax Limited has undertaken a planned renewal of its board, announcing the resignation of directors Benjamin Chow, Qinglong Zeng and Biaozhun Zhu effective 21 August 2026. The departing directors are acknowledged for their long-standing contributio...
Mindax Reviews Board Change Request from 9.94% Shareholder Group
Mindax Limited has disclosed that it received correspondence from a group of shareholders seeking changes to the company’s Board of Directors. The group collectively holds a relevant interest of about 9.94% of Mindax’s issued capital, ind...
Mindax advances Mid-West iron hub strategy and gold exploration in June quarter
Mindax Limited’s June 2026 quarter was marked by steady advancement of its Mid-West Shared Infrastructure Project, aimed at enabling transport of magnetite ore from mine to port, as it deepened engagement with potential stakeholders and partner...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Oct 01, 2026