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$1.2bn Bluewaters power deal moves closer

The administrators of Griffin Energy Group have welcomed key state government regulatory moves designed to clear the way for the sale of Bluewaters power station to Japanese companies Sumitomo Corporation and Kansai Electric Power.

Bluewaters was one of the key assets of Ric Stowe’s Griffin group, which went into administration in January 2010.

The sale of the power station, originally announced in April 2011, has been delayed by regulatory and contractual disputes involving Indian company Lanco, which bought Griffin’s neighbouring coal mines.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 31/01/17

1 year TSR5 year TSR
68thFortescue Metals Group299%9%
123rdSouth32184%0%
131stAtlas Iron176%-56%
312thIluka Resources44%-14%
368thNorthern Star Resources32%35%
683 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

03/11/16
$6.9m Bought
23/09/16
$0 Other
23/09/16
$0 Other
Total value as at the date of the transaction
Source: Morningstar

Revenue

1st-Fortescue Metals Group$9,806.1m
2nd↑South32$8,262.9m
4th↑Iluka Resources$884.1m
5th↑Atlas Iron$803.7m
6th↑Northern Star Resources$787.2m
504 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Fortescue Metals Group

4thNev Power$5.324m
733rdMark Barnaba$223k
868thSharon Warburton$170k
Ranked by total remuneration from all listed WA companies

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