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Orion holds tenements in a joint venture with prominent prospector Mark Creasy. Photo: Attila Csaszar

Independence in Fraser Range JV with Orion

Gold and nickel miner Independence Group has expanded its presence in the Fraser Range after entering into an agreement to farm-in to Orion Gold’s tenements in the area for an initial $2 million in cash and scrip.

Independence will acquire an initial 70 per cent stake in Orion’s wholly-owned tenements, a 60 per cent interest in tenements Orion already holds in a JV with prominent prospector Mark Creasy, and a 65 per cent interest in a tenement held between Orion and Geological Resources.

It will pay $700,000 in cash and acquire $1.3 million Orion shares at a premium of 2.4 cents each to acquire the stakes.

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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 31/07/17

1 year TSR5 year TSR
59thOM Holdings132%-15%
135thMount Gibson Iron53%-11%
325thSandfire Resources4%-2%
499thIndependence Group-25%0%
655thMetals X-48%13%
710 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

03/07/17
$0 Other
16/05/17
$25k Bought
04/05/17
$15k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

9th↓Sandfire Resources$489.0m
10th↑OM Holdings$474.3m
11th↓Independence Group$415.6m
13th↑Metals X$354.8m
14th↑Mount Gibson Iron$331.0m
491 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Independence Group

38thPeter Bradford$1.313m
147thBrett Hartmann$676k
197thScott Steinkrug$592k
Ranked by total remuneration from all listed WA companies

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