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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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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 30/11/17

1 year TSR5 year TSR
189thMineral Resources62%24%
299thSouth3225%0%
401stWoodside Petroleum9%4%
444thAtlas Iron0%-57%
561stFortescue Metals Group-15%8%
727 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

10/11/17
$0 Bought
03/10/17
$9k Issued
29/09/17
$0 Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

1st-Fortescue Metals Group$10,999.7m
2nd↑South32$9,392.9m
3rd-Woodside Petroleum$5,715.9m
4th-Mineral Resources$1,470.4m
5th↑Atlas Iron$896.6m
491 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Fortescue Metals Group

3rdNev Power$5.324m
631stMark Barnaba$223k
746thSharon Warburton$170k
Ranked by total remuneration from all listed WA companies

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