The Independence Group inks a JV with Prodigy Gold

Company News

by Rachael Jones

Mining company, the Independence Group (ASX:IGO) has inked a farm-in and exploration joint venture with Prodigy Gold (ASX:PRX) for a Lake Mackay project near Alice Springs.

The Independence Group (ASX:IGO) has completed its initial $6 million earn in expenditure. It takes an interest of 70 per cent in the project compared to Prodigy Gold’s (ASX:PRX) 30 per cent interest.

There is an inaugural joint venture budget of $4.6 million for the remainder of the 2019 financial year.

This is the largest RC drilling commitment on the project to date.

Shares in Independence Group (ASX:IGO) trading 1.6 per cent lower at $4.13.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.