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Independence is scaling back operations at its Jaguar operation, with nine jobs soon to be cut.

Independence cuts jobs, exploration

Gold and nickel miner Independence Group plans to make about 40 employees redundant after announcing it would cut exploration spending by $20 million in response to weak base metals prices.

The company announced today that it had suspended activities at its Long operation in the Goldfields due to the depressed nickel market, resulting in about 30 jobs being made redundant this month.

The company said it would be able to resume activities at Long once nickel prices improved.

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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
183rdMount Gibson Iron105%-20%
241stIndependence Group73%0%
352ndSandfire Resources34%-1%
616thMetals X-17%-0%
683 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

16/12/16
$406k Bought
30/11/16
$98k Bought
29/08/16
$15k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

9th↑Sandfire Resources$489.0m
11th↑Independence Group$415.6m
13th↑Metals X$354.8m
14th↓Mount Gibson Iron$331.0m
507 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Independence Group

45thPeter Bradford$1.313m
163rdBrett Hartmann$676k
217thScott Steinkrug$592k
Ranked by total remuneration from all listed WA companies

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