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Indo Mines announces $50m placement

Indo Mines shares spiked on the ASX today after the explorer announced its cornerstone shareholder, Indonesia’s Rajawali Group, had agreed to kick in $50 million through a share placement.

Indo said Rajawali had agreed to take up 250 million shares, priced at 20 cents each, taking its stake in the Perth-based company to 57.12 per cent.

The company said the funds would be used to establish a 2 million tonne per annum iron concentrate facility, ongoing pig-iron studies and completion of financing due diligence for the Jogjakarta iron project in Indonesia.

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Indo Mines (IDO)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/08/16

1 year TSR5 year TSR
565thCape Lambert Resources-14%-44%
634thIndo Mines-30%-54%
737thArrowhead Resources-63%-57%
777 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

29/10/10
$25k Bought
20/09/10
$1.5m Bought
26/05/10
$660k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

88th↑Indo Mines$3.8m
89th↑Arrowhead Resources$3.6m
91st↑Citation Resources$3.2m
92nd↓Cape Lambert Resources$3.1m
526 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Indo Mines

443rdArran Marshall$326k
1204thPeter Chambers$79k
1473rdDarryl Harris$51k
Ranked by total remuneration from all listed WA companies

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