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Flinders, FMG swap exploration rights

Flinders Diamonds has signed an agreement to swap exploration and mining developments rights with Fortescue Metals Group over some tenements in the Pilbara region. Under the agreement, Flinders and Prenti Exploration, its joint venture partner in the WA tenements, will receive a royalty payment for any iron ore mined by Fortescue on four of Flinders’ Pilbara leases. The four licences cover 294 square kilometres scattered generally to the north and west of Wittenoom. These tenements are now regarded as part of the company’s White Knight project. In return, Flinders has been granted exploration access to eight Fortescue tenements, totalling 1,527 square kilometres in which to expand its search for diamonds. While Flinders would receive the benefit of any iron ore production by Fortescue, the company is not required to pay a reciprocal royalty on any diamond production it might undertake. For Fortescue, the agreement involves areas with known iron ore potential that are adjacent to the company’s rail route to Port Hedland for its Chichester Range iron ore projects.

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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 29/03/18

1 year TSR5 year TSR
162ndMineral Resources64%15%
182ndNorthern Star Resources58%47%
292ndSouth3223%0%
592ndFortescue Metals Group-25%7%
635thAtlas Iron-33%-54%
716 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

20/02/18
$0 Issued
19/02/18
$0 Other
19/02/18
$0 Other
Total value as at the date of the transaction
Source: Morningstar

Revenue

1st-Fortescue Metals Group$10,999.7m
2nd-South32$9,392.9m
4th-Mineral Resources$1,470.4m
5th↓Atlas Iron$896.6m
6th↓Northern Star Resources$850.6m
508 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Fortescue Metals Group

593rdMark Barnaba$223k
698thSharon Warburton$170k
759thElizabeth Gaines$161k
Ranked by total remuneration from all listed WA companies

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