Independence Group NL (IGO or the Company) (ASX: IGO) advises it has entered into an agreement to sell its Stockman Cu-Zn Project in north-east Victoria (Stockman Project) for a consideration of A$47.2 million, comprising A$32.2 million in cash payments1 and a 1.5% net smelter return (NSR) royalty with a provisional value of up to A$15 million2, which then converts to an uncapped 1% NSR. The sale of the Stockman Project is consistent with IGO’s strategy of focusing on high-quality assets of scale, longevity and geographical focus, where IGO can leverage its operational expertise and discipline to unlock further growth opportunities.
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