IGO becomes Arrow Minerals largest shareholder

Company News

by Anna Napoli

Mining company, Independence Group (ASX:IGO) has become Arrow Minerals largest shareholder following a $1 million dollar placement.

IGO now holds an 11 per cent interest in the company.

Arrow Minerals (ASX:AMD) is a mineral exploration company targeting gold, lithium and nickel.

Arrow is currently undertaking a major aircore drilling programme at the Strickland Gold Project.

The board of Arrow minerals says the company is in its strongest ever financial position, with around 2 cents per share of cash investments.

Shares in Independence Group (ASX:IGO) are trading 1.4 per cent higher at $5.08
 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.