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kazax minerals inc (KZX) Snapshot

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kazax minerals inc (KZX) Details

KazaX Minerals Inc. is primarily involved in the acquisition, exploration, and development of mineral properties in Kazakhstan. It owns the exploration and production rights in the Lomonosovskoye iron ore project, which is located in Kostanay Oblast. The company was formerly known as Newbridge Capital Inc. and changed its name to KazaX Minerals Inc. in March 2012. KazaX Minerals Inc. was incorporated in 2005 and is based in Astana, Kazakhstan.

Founded in 2005

kazax minerals inc (KZX) Top Compensated Officers

Total Annual Compensation: C$373.3K
Total Annual Compensation: $36.2K
Compensation as of Fiscal Year 2012.

kazax minerals inc (KZX) Key Developments

Kazax Minerals Inc. Announces Management Changes

Kazax Minerals Inc. announced that Mr. Pavel Dubchak has been appointed General Director and Country Manager commencing July 16, 2014. Dubchak joins Kazax from Arcelor Mittal where he held the position of Chief Geologist supervising the geological development of 3 open pit and 1 underground operating mines in northern and central Kazakhstan. Kazax announced the resignation of previous Country Manager, Mr. Juan Camus. It is expected that Mr. Camus will continue to be engaged with the Company on a consultancy basis.

KazaX Minerals Inc. Auditor Raises 'Going Concern' Doubt

KazaX Minerals Inc. filed its Annual on Apr 30, 2014 for the period ending Dec 31, 2013. In this report its auditor, Grant Thornton, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

KazaX Minerals Inc. Announces Settlement with LogiCamms Limited

KazaX Minerals Inc. announced that it has reached an amicable settlement with LogiCamms Limited in relation to legal proceedings arising from some uncertainty as to work scope and payment in connection with work carried out by LogiCamms for the company's Lomonosovskoye Project in Kazakhstan. The legal proceedings will be withdrawn on the back of the amicable settlement; subject to a payment of AUD 700,000 (approx. USD 645,000) by Kazax to LogiCamms in 4 instalments. On the basis of the amicable nature of the settlement, and the continuing good relationship between the parties, Kazax's engagement of LogiCamms will continue with the parties working together to complete the design and specification of the Lomonosovskoye Project beneficiation plant and associated facilities for the purposes of advancing the bankable feasibility study in relation to the Lomonosovskoye Project.


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