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Mincor receives $15.7m from sale of Tethyan options

West Perth-based nickel miner Mincor Resources NL has completed the sale of its residual interest in Tethyan Copper Company Ltd to Antofagasta plc, receiving a cash payment of $15.7 million in return for the transfer to Antofagasta of almost 12.6 million options in Tethyan.

The sale value reflects the strike price of the options (15 cents) subtracted from the Antofagasta Bid price ($1.40).

Settlement of the transaction follows the successful completion of Antofagasta's recommended $1.40 cash takeover bid for Tethyan, which closed on Friday 28 April with Antofagasta announcing a relevant interest of 96 per cent in Tethyan's shares.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/08/18

1 year TSR5 year TSR
165thMincor Resources52%-7%
172ndGrand Gulf Energy50%8%
176thStrike Energy48%6%
540thMatsa Resources-17%-13%
716thXTD-48%-58%
737 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

26/03/18
$36k Bought
26/03/18
$72k Bought
21/03/18
$0 Other
Total value as at the date of the transaction
Source: Morningstar

Revenue

77th↓Strike Energy$3.7m
78th-XTD$3.5m
79th↓Mincor Resources$3.4m
80th↓Matsa Resources$3.1m
81st↓Grand Gulf Energy$3.1m
507 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Mincor Resources

368thPeter Muccilli$317k
Ranked by total remuneration from all listed WA companies

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