Independence pulls the trigger on ABM's Lake Mackay

Diversified junior Independence Group has exercised its option over the Lake Mackay project area, in the Northern Territory, taking a 9% share interest in fellow-listed ABM Resources. Independence and ABM in 2013 signed a farm-in and joint-venture agreement over the Lake Mackay project area, under which Independence could either elect to pay ABM A$1-million in cash or to subscribe for A$1.5-million in ABM shares.