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