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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 29/07/16

1 year TSR5 year TSR
23rdResolute Mining594%5%
85thRegis Resources226%10%
384thIndependence Group7%-6%
459thSandfire Resources-3%-5%
737thAtlas Iron-69%-69%
777 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

18/12/15
$0 Issued
17/12/15
$232k Bought
22/09/15
$96k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

6th-Atlas Iron$732.8m
7th↑Sandfire Resources$536.4m
8th↑Independence Group$497.2m
9th↓Resolute Mining$471.3m
10th↑Regis Resources$467.3m
526 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Independence Group

73rdPeter Bradford$963k
147thBrett Hartmann$676k
192ndScott Steinkrug$592k
Ranked by total remuneration from all listed WA companies

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