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Mineral Resources managing director Chris Ellison is also a director of Mesa Minerals.

Court rejects Mesa shareholder claims

A major shareholder in failed manganese company Mesa Minerals has lost its bid to have administrators replaced after the Supreme Court ruled there was no evidence of bias between Pitcher Partners and Mesa’s largest stakeholder, Mineral Resources.

Mighty River International, a 13.5 per cent shareholder in Mesa, alleged that the failed Perth-based company’s decision to appoint Bryan Hughes and Daniel Bredenkamp of Pitcher Partners as administrators was made under biased circumstances and in a pre-emptive manner.

Its argument was that conversations had begun between Pitcher and Mesa directors - including non-executive director Chris Ellison, who is also managing director of Mineral Resources, which in turn is a 59.4 per cent shareholder in Mesa – several months before Mesa entered into voluntary administration in July last year.

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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 30/11/17

1 year TSR5 year TSR
184thNorthern Star Resources65%37%
189thMineral Resources62%24%
299thSouth3225%0%
401stWoodside Petroleum9%4%
444thAtlas Iron0%-57%
727 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

30/11/17
$36.9m Sold
30/11/17
$4.0m Sold
20/09/17
$118k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

2nd↑South32$9,392.9m
3rd-Woodside Petroleum$5,715.9m
4th-Mineral Resources$1,470.4m
5th↑Atlas Iron$896.6m
6th↓Northern Star Resources$850.6m
492 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Mineral Resources

10thChris Ellison$2.918m
24thBruce Goulds$1.543m
33rdBob Gavranich$1.323m
Ranked by total remuneration from all listed WA companies

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