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Resolute spin off

GOLD producer Resolute Mining has incorporated a new entity subsidiary called Valhalla Uranium in order to spin off its uranium assets. It is proposed that Valhalla will raise about $7 million through an initial public offering, with its shares to be listed on the Australian Stock Exchange. Resolute has joint venture interests in a number of uranium projects it believes are both at an advanced and prospective stage. It has a 50 per cent stake in the Valhalla and Skal uranium deposits near Mt Isa in Queensland and a series of other resources at various stages in the Northern Territory. It will retain a significant holding in Valhalla following the listing and has appointed Patersons Securities to assist it with the process with preparation of a prospectus for the capital raising currently underway. Resolute follows a number of other explorers with prospective uranium holdings who have also realised the benefits of a spin-off.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 29/03/18

1 year TSR5 year TSR
215thRegis Resources43%5%
266thIndependence Group29%4%
468thResolute Mining-2%-1%
658thWestgold Resources-36%0%
716 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

01/02/18
$348k Bought
07/12/17
$69k Bought
28/11/17
$0 Issued
Total value as at the date of the transaction
Source: Morningstar

Revenue

8th↓Resolute Mining$560.8m
9th↓Regis Resources$547.2m
12th↑Westgold Resources$438.5m
13th↓Independence Group$424.1m
508 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Resolute Mining

36thJohn Welborn$892k
951stBill Price$104k
1014thMartin Botha$90k
Ranked by total remuneration from all listed WA companies

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