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Peel Mining is spinning-out its Apollo Hill gold project near Leonora into Saturn Metals.

Peel to spin-out local gold asset

Junior explorer Peel Mining has announced plans to spin-off its Apollo Hill gold project near Leonora into a new company and list it on the ASX by way of an initial public offering.

Perth-based Peel will seek shareholder approval next month for the demerging of the subsidiary that holds ownership of Apollo Hill into a new company called Saturn Metals.

Peel, which also owns copper-gold deposits in NSW – which last year attracted a $3 million investment in the company by gold miner St Barbara - will retain a stake in Apollo Hill with Saturn to issue the company 20 million shares as part of the spin-out arrangement.

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Peel Mining (PEX)

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
75thPeel Mining153%3%
180thEnterprise Metals50%-34%
220thKorab Resources36%-19%
426thRedbank Copper0%0%
532ndWolf Petroleum-17%-1%
726 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

07/12/15
$0 Issued
07/12/15
$0 Issued
11/06/14
$3k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

166th↑Korab Resources$331k
167th↓Redbank Copper$329k
168th↑Peel Mining$319k
169th↑Wolf Petroleum$318k
170th↑Enterprise Metals$316k
491 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Peel Mining

493rdRob Tyson$292k
thRyan Woodhouse$111k
1040thSimon Hadfield$100k
Ranked by total remuneration from all listed WA companies

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