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Gold Road and Gold Fields are jointly developing the Gruyere gold project in WA.

JV partner buys $64m stake in Gold Road

South African mining giant Gold Fields has spent $64.3 million to increase its stake in Perth-based Gold Road Resources to 10 per cent, as the two companies jointly develop the Gruyere project.

Gold Fields acquired the 74.8 million shares at a price of 86 cents each, representing a 27 per cent premium to Gold Road’s last closing price.

It follows news in December that Gold Fields had paid $350 million to acquire a 50 per cent stake in Gold Road’s Gruyere project, with terms of the joint venture including that Gold Fields acquires no more than 10 per cent worth of its joint venture partner’s issued share capital.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/05/17

1 year TSR5 year TSR
143rdRumble Resources72%-32%
272ndGold Road Resources25%28%
321stAltona Mining17%7%
392ndAlto Metals4%0%
526thGindalbie Metals-17%-50%
706 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

09/12/16
$18k Bought
14/11/16
$13k Bought
11/11/16
$0 Other
Total value as at the date of the transaction
Source: Morningstar

Revenue

164th↑Gold Road Resources$463k
183rd↑Rumble Resources$300k
184th↑Altona Mining$300k
186th↑Alto Metals$295k
187th↑Gindalbie Metals$290k
495 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Gold Road Resources

85thIan Murray$917k
225thJustin Osborne$559k
437thMartin Pyle$100k
Ranked by total remuneration from all listed WA companies

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