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The new strategy will add 2.1 million ounces of gold production to the Tropicana business plan.

Tropicana gold mine set for new phase

The joint owners of the Tropicana gold mine have approved spending of $46 million to underpin a new mining strategy under which waste material from new pits will be tipped back into the original open pit mine, delivering increased production and a longer mine life.

The new strategy will add 2.1 million ounces of gold production to the Tropicana business plan, extending mine life by about seven years to 2027.

Tropicana, which is jointly owned by AngloGold Ashanti Australia (70 per cent) and Independence Group, is the state’s third largest gold mine, with production of 432,00oz last year.

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Share Price

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Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 30/11/17

1 year TSR5 year TSR
thWestgold Resources0%0%
46thOM Holdings343%21%
201stSaracen Mineral Holdings57%28%
375thGold Road Resources15%38%
485thIndependence Group-2%-1%
727 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

28/11/17
$0 Issued
18/09/17
$106k Bought
06/09/17
$13k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

11th↑OM Holdings$474.3m
12th-Westgold Resources$438.5m
13th↓Independence Group$424.1m
14th↑Saracen Mineral Holdings$423.2m
15th↑Gold Road Resources$326.6m
491 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Independence Group

35thPeter Bradford$1.313m
141stBrett Hartmann$676k
187thScott Steinkrug$592k
Ranked by total remuneration from all listed WA companies

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