IGO Annual Report 2016

30 Independence Group NL

DIRECTORS’ REPORT

Directors' report

30 June 2016

Your Directors present their report on the consolidated entity (referred to hereafter as the Group) consisting of

Independence Group NL (referred to hereafter as the Company) and the entities it controlled at the end of, or during, the

year ended 30 June 2016.

Directors

The following persons held office as Directors of Independence Group NL during the whole of the financial year and up

to the date of this report, unless otherwise noted:

Peter Bilbe

Peter Bradford

Peter Buck

Geoffrey Clifford

Keith Spence

Neil Warburton

Mark Bennett

Neil Warburton was appointed as a Non-executive Director on 12 October 2015 and continues in office at the date of

this report.

Mark Bennett was appointed as a Non-executive Director on 12 October 2015 and was in office until his resignation on

31 May 2016.

Principal activities

The principal activities of the Group during the financial year were non-operator gold mining from the Company’s 30%

interest in the Tropicana Gold Mine, nickel mining at the Long Operation, zinc and by-product mining at the Jaguar

Operations, development of the Nova Project and ongoing mineral exploration.

Dividends

Dividends paid to members during the financial year were as follows:

2016

$'000

2015

$'000

Final ordinary dividend for the year ended 30 June 2015 of 2.5 cents (2014: 5 cents)

per fully paid share

12,786

11,713

Interim ordinary dividend for the year ended 30 June 2016 of nil cents (2015: 6 cents)

per fully paid share

14,055

12,786

25,768

In addition to the above dividends, since the end of the financial year the Company has announced the payment of a

final ordinary dividend of $11,734,000 (2 cents per fully paid share, fully franked) to be paid on 23 September 2016.

Operating and financial review

Independence Group NL is a company listed on the Australian Securities Exchange (ASX:IGO). The Company has

been listed on the ASX since 17 January 2002, having traded as Independence Gold NL from 17 January 2002 to 19

December 2003.

Independence Group NL