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IGO LIMITED — Capital/Financing Update 2018
May 31, 2018
65111_rns_2018-05-31_44f10ba1-6afd-44e0-8bc1-5daaa22bad2e.pdf
Capital/Financing Update
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1 June 2018
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JAGUAR DIVESTMENT COMPLETED
Independence Group NL (‘ IGO ’ or ‘ the Company ’) ( ASX: IGO ) confirms that the transaction to divest the Jaguar copper-zinc Operation ( Jaguar ) located north of Leonora, Western Australia, to CopperChem Pty Limited ( CopperChem ), a wholly owned subsidiary of Washington H. Soul Pattinson and Company Limited, as announced in IGO’s ASX Release dated 25 May 2018, is now complete.
At completion on 31 May 2018, IGO received cash payment of A$25 million and will receive three further cash payments of A$16.1 million on each of the three anniversaries of the completion date, i.e., 31 May 2019, 31 May 2020 and 31 May 2021 (respectively).
Peter Bradford, IGO’s Managing Director and CEO stated that: “The A$73 million consideration for the divestment of Jaguar reflects fair value for the asset and does not trigger any impairment. The divestment allows IGO to concentrate on our core assets at Nova and Tropicana and the execution of our exploration activities. The divestment is also consistent with our strategic focus on high quality assets of scale and longevity aligned to the evolving shift towards energy storage minerals. I once again acknowledge achievements of the Jaguar team including their commitment to safe and consistent production and outstanding local community engagement. Thank you.”
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Peter Bradford Managing Director and CEO Independence Group NL (IGO)
Investors:
Andrew Eddowes Head of Corporate Development Tel: +61 8 9238 8300 Mobile: +61 (0) 429 920 006 Email: [email protected]
Media:
Jill Thomas Communications Manager Tel: +61 8 9238 8373 Mobile: +61 (0) 423 259 190 Email: [email protected]
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