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Oz Minerals will have the right to a 70 per cent stake in the West Musgrave project with an overall investment of $36 million.

Oz Minerals advances Cassini joint venture

OZ Minerals has progressed its joint venture with local explorer Cassini Resources at the West Musgrave nickel-copper project after positive results in a further scoping study.

Stage two of the farm-in agreement allows OZ Minerals to earn a 51 per cent stake in West Musgrave, which is located south of Jameson, with an investment of $19 million.

In a joint statement, the companies announced the project would move to a pre-feasibility study after a study examining scale options indicated the viability of a large, low-cost mine.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/10/17

1 year TSR5 year TSR
110thTraka Resources100%-5%
173rdCassini Resources54%1%
296thWest African Resources22%4%
726 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

31/03/17
$8k Bought
15/11/16
$15k Bought
15/11/16
$15k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

193rd↑West African Resources$210k
194th-Nemex Resources$209k
195th↑Cassini Resources$200k
196th↑Dynasty Resources$190k
197th↑Traka Resources$189k
491 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Cassini Resources

338thRichard Bevan$349k
436thGreg Miles$276k
112thMike Young$81k
Ranked by total remuneration from all listed WA companies

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