# IGO - IGO Limited



## seaurchin (8 April 2005)

*independence Group ''IGO''*

This was alerted to me months ago ...from strong resources..very low PE.
interesting volume this week with timely buys and sells @ interesting prices to.
those intraday highs say 143 ...will that count as a new high ?
if this breaking out to a new range of trading ?
does this have cash?
Is this debt ratio low ?
theres more but I think my answer is YES to most ...however still holding and if the XAO shows advnce to recent highs i see IGO moving with INDEX.
my opinion and could be wrong ...please feel free to share opionion with me on this one thatks....bye


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## porkpie324 (29 October 2006)

Greggy, David Hazelhurst is one of my best sources of specky stocks to research, I have been following the 'speculator' for about 4 years now, I also read the article you mentioned on STB, hav'nt bought in yet but on my watch list. IGO has been one of my stand out performers, first bought in 2002 for about .30c they rose very quickly to over $1.00, I sold but have traded them regularly since, out of at the moment but have traded them lots using CFDs recently. porkpie


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## greggy (30 October 2006)

David Hazelhurst has a great track record and STB is very undervalued compared with other nickel stocks.  IGO is a great stock and has been followed on and off by The Speculator. 
As always, do your own research before buying/selling.


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## Kauri (31 October 2006)

IGO looks a little _toppy_ for mine.Wouldn't be surprised to see a pullback to the trendline before moving on again. Will see how it reacts from the congestion area it seems to be building.


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## greggy (31 October 2006)

Nice chart.  I feel however that momentum is running so strong in the nickel sector that new highs will be seen before any pull back.  P.S. I don't own any IGO.  Please do your own research before buying/selling.


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## porkpie324 (31 October 2006)

Yes Kauri I have to agree with you on IGO, they looked a bit toppy to me early October so sold then only to watch them go north again. But I have been short term trading them using CFDs. IGO are not alone, other nickel miners are looking toppy but after such a strong run it is'nt suprising. porkpie


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## Kauri (3 November 2006)

IGO with GP's AIM dll for AB.


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## greggy (3 November 2006)

Kauri said:
			
		

> IGO with GP's AIM dll for AB.



Hi Kauri,

You have thus far proved me wrong.  You are indeed a master of charting.
Thanks.


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## porkpie324 (3 November 2006)

IGO have been under some pressure and have failed to rally with other nickel miners, ie MCR, SMY, so I think perhaps maybe next week could be an oppotunity to buy in again, just watch the quotes. porkpie


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## greggy (3 November 2006)

porkpie324 said:
			
		

> IGO have been under some pressure and have failed to rally with other nickel miners, ie MCR, SMY, so I think perhaps maybe next week could be an oppotunity to buy in again, just watch the quotes. porkpie



I like IGO, but I'll watch and wait.
Thanks for your comments.


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## Kauri (13 November 2006)

IGO looks interesting again..


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## Kauri (16 November 2006)

IGO at an interesting stage, retraced 50% and close to the T/L before closing strongly in the top quartile of its daily range, finished with 2x normal vol, and the (5000+ blocks) buyers stepped up to the offer late in the day (green vol) as opposed to the sellers meeting the buyers early on (red vol).
    Will watch for an entry tomorrow if exceeds todays high on positive and strong vol.


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## porkpie324 (16 November 2006)

I'm looking at IGO again after recect weakness, kauri I like that market action you posted where do you get it, porkpie


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## Kauri (20 November 2006)

Kauri said:
			
		

> IGO looks a little _toppy_ for mine.Wouldn't be surprised to see a pullback to the trendline before moving on again. Will see how it reacts from the congestion area it seems to be building.




  As per post/chart #4 this thread, now looking for some positive price/vol for a possible entry....


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## porkpie324 (19 December 2006)

Recent eakness in IGO could possibly be due to a substantial holder quitting (see todays an), I bought back in last week twice at $4.02 & $4.05 I think their oversold, then read todays an so that confirms what I thought will hold for now, but if IGO falls through $4.00 will probably quit them, IGO are a very good nickelstock. porkpie


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## porkpie324 (12 January 2007)

Todays a/n of IGO going into the asx S&P 200 has certainly changed the quotes post the a/n today. So glad I held, even picked up a few more this morning before the a/n. porkpie


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## Kauri (12 January 2007)

porkpie324 said:
			
		

> Todays a/n of IGO going into the asx S&P 200 has certainly changed the quotes post the a/n today. So glad I held, even picked up a few more this morning before the a/n. porkpie




   Hey Porkpie..
   Good timing... I had forgotten about this one. Will watch to see if she pulls back in a minor W2 for a possible entry..     Hows the Get going??


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## porkpie324 (13 January 2007)

Yes I got something right after 4 bad days, a bad opening new year week hope its just a one off. As for AGET I'm not familiar with e/w after 14years with metastock its a lot different but I will perservere, the 888tradingshop software seems ok now too after downloading the file it was fine. porkpie


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## porkpie324 (18 January 2007)

IGO goes into the ASX200 tomorrow, I've traded IGO many times but this correction has lasted since late October, but I have faith so I took advantage of todays weakness and opened some positions, here's hoping. porkpie


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## porkpie324 (19 January 2007)

Wrong again!! if I had a double headed coin I could'nt call it right this year!!.porkpie


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## porkpie324 (22 January 2007)

Looks like sme long awaited support comning through for IGO, perhaps I was a little tough on myselfe. porkpie


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## porkpie324 (24 January 2007)

IGO up 7% at 3.00 pm my long pos looking good now, appears IGO is making up at last. porkpie


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## chops_a_must (24 January 2007)

Looks good. The MACD turned two days ago.


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## porkpie324 (24 January 2007)

Yes and it's turned up from below the zero line, here's hoping IGO continues. BTW with the late profit taking with SMY I hope it's not forming the dreaded "Gravestone Doji". porkpie


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## danc (26 January 2007)

I reckon you have called the btm spot on porkpie,


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## porkpie324 (28 January 2007)

I could'nt make out why IGO's share price has lagged MCR&SMY, could it be that IGO has dropped out of the small Co's index and is now in the ASX200 ?. anyway I think it was only time before IGO made up lost ground.
 Also found this interesting article on the possible labour strike at Sudbury mine and if the strike proceeds the impact on nickel stocks
"Xstrata Plc rejected an offer from a labor union at its Sudbury nickel unit in Canada and withdrew an earlier proposal to end a dispute, threatening to halt production as the metal traded at a record.

Both sides will have to renegotiate from scratch to establish a labor agreement, Richard Paquin, chairman of the Canadian Auto Workers Union local 598, said in a phone interview today from Sudbury, Ontario. He didn't give details of what was offered by either party. Workers have threatened to strike when the existing labor contract expires Jan. 31.

Nickel, used in stainless steel, rose to a record in London today for an eight consecutive trading session amid concern that supply may not be meet demand. Sudbury was acquired last year by Zug, Switzerland-based Xstrata in its C$19 billion ($16.1billion) takeover of Falconbridge Ltd. The unit's smelter accounts for 4 percent of world nickel supply." porkpie


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## michael_selway (28 January 2007)

porkpie324 said:
			
		

> I could'nt make out why IGO's share price has lagged MCR&SMY, could it be that IGO has dropped out of the small Co's index and is now in the ASX200 ?. anyway I think it was only time before IGO made up lost ground.
> Also found this interesting article on the possible labour strike at Sudbury mine and if the strike proceeds the impact on nickel stocks
> "Xstrata Plc rejected an offer from a labor union at its Sudbury nickel unit in Canada and withdrew an earlier proposal to end a dispute, threatening to halt production as the metal traded at a record.
> 
> ...




*Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 2009 
EPS 30.7 58.4 50.6 48.0 
DPS 9.0 11.0 11.0 14.0 

EPS(c) PE Growth 
Year Ending 30-06-07 58.4 7.2 90.4% 
Year Ending 30-06-08 50.6 8.3 -13.4% * 

thx

MS


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## Kauri (28 January 2007)

Hi  Porkpie,
          I'm just starting out on E/W so don't read too much into my charts..  
  On the posted chart I have labelled the last top as a W(5) and am looking for the ABC to complete.... alternatively my count may be wrong and the last top may have been a W(3) in which case W(4) is complete and we are now indeed tracing out an impulsive W(5).  Ah, the subjectivity of E/W..  wouldn't have it any other way..     Does any one else have an opinion where IGO is at at the moment??
*Sometimes I can't help being right for being wrong..*


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## Freeballinginawetsuit (28 January 2007)

Kauri,

It would seem logical that any move in IGO's SP direction would be entirely dependent on Nickle spot,their upcoming quarterly and punters perception of their market value relative to current SP. Without an increase in buying volumes, IGO is going nowhere (   stating the obvious) and its lacking those ATM.

IGO is a strange one to trade on price action alone, as any uptrend bounces intraday, support levels are weak and it always seems toppy. Regardless, this to me seems the only way to trade IGO and its comparative value>opposed to other Nicklers and current spot prices

Your wave count will validate this after the fact and any likely SP move is subjective at best. Nice charts though!.


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## Kauri (28 January 2007)

Hi Freeballinginawetsuit,
Thanks for your take on IGO, just a couple of points...



			
				Freeballinginawetsuit said:
			
		

> Kauri,
> 
> Without an increase in buying volumes, IGO is going nowhere (  stating the obvious) and its lacking those ATM.



IGO's 10day MA of vol has increased from 260,00 a week ago to 851,00 for the last week.





> Your wave count will validate this after the fact and any likely SP move is subjective at best. Nice charts though!.



I hope so...  but I actually trade by the charts in realtime and post my trades usually as a possible set-up before they happen and again at the time I enter, as opposed to waiting for the trade to validate and move into profit before claiming it as a trade. 


By the way, at the last top with IGO spot nickel was around 14... at the last low it was about 14.5. Over the same period IGO went from 5.25 to 3.65..


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## Freeballinginawetsuit (28 January 2007)

Hey Kauri


IGO's volumes are relative. Certainly they have increased but definitely not in line with other Nicklers, hence the lagging nature of their SP. They simply need some more interest to maintain/increase momentum and soak the profit takers, ATM its not quite their compared to a few of their peers. Maybe its as simple as the market perception of their value  


I still feel their choppy on daily price action (also difficult to get a feel for trend direction) . The same cannot be said for a few of their peers. Just my opinions and I still feel IGO will bump on a bit more once their quarterly is released, similar to MRE, Their both value ATM

As with all Nicklers recent pullback was a result of profit takers and Insto selldowns, certainly not Nickle Fundamentals. Hence you would have required mental retardation not to have accumalated on the pullback.

Kauri, I like your charts   and youre posts are accurate and youre opinions valued.

Cheers


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## Kauri (5 February 2007)

Looks like it may have resolved which direction to take..


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## mmmmining (9 February 2007)

Check a few things with MD Chris Bonwick, decide to buy some IGO. With forecast PE at 5, and the Tropicana gold discovery is real and huge (30%) with several millions oz potential. At current price, worth to give it a go. 

Nickel+Gold, and very fashionable combination only second to uranium+gold...

I try to purchase it a couple weeks ago at  3.76, only see my order was missed by 2c. But not this time with at market order, seeing the forming of double bottom.. (I am not a chartist)


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## Kauri (6 May 2007)

After shorting into what I thought was an ongoing correction in early March     IGO has more than made up for it to the long side. The last minor correction (blue W4) is not all that convincing so far, time will tell if it is correct as is or is maybe yet to come.


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## Kauri (8 May 2007)

Have closed out original and pyramid longs as price met the typ W5 and max W3 before retreating, due for a corrective wave W4??


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## nedsbirdeye (3 June 2007)

an extract from the latest ASX announcement:

"Independence Group NL is pleased to announce the commencement of a pre-feasibility
study at the Tropicana gold project in Western Australia.
The study is expected to be completed in mid 2008 and will focus on the Tropicana and
Havana zones. The study will only consider open-cut resources."

_open-cut resources!
_

how big is this mine going to be?
is IGO the next Fortescue Metals?


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## Kauri (3 June 2007)

Having closed out all of my positions quite possibly a little prematurely I have re-entered on the last correction looking to take a bit out of what appears to be a W5.....


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## michael_selway (3 June 2007)

nedsbirdeye said:


> an extract from the latest ASX announcement:
> 
> "Independence Group NL is pleased to announce the commencement of a pre-feasibility
> study at the Tropicana gold project in Western Australia.
> ...




Cant really compare IGO to FMG, as FMG is vulnerable to a Nickel Price crash any time, while iron ore prices are more "reasonably priced" at the moment?

thx

MS

*Earnings and Dividends Forecast (cents per share) 
2006 2007 2008 2009 
EPS 30.7 100.8 68.2 62.4 
DPS 9.0 12.0 12.0 11.0 *


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## Col Lector (3 June 2007)

Gidday...
Whilst IGO, like all other Ni producers (& particularly explorers yet to produce) are vunerable to Ni price downturn I rate IGO as a top-notch resource stock/long-term hold. Top-quality management,  great tenements & demonstrated ability to control costs. Money in the bank & good dividends. Friendly with BHP. 
Recent Ni  drillings  (eg,McLeay) are very high grade & likely to increase resources , & production profile,& reduce cost of prod markedly. 
Elsewhere their pipeline of projects  will broaden the diversity of production to Ni/Cu(Matrix)/Au/Fe....
Tropicana has the potential to be awesome....as well as increasing further the attractiveness of IGO as a takeover target.
Held this sinc 2003 and the one I am least likely to offload.
Yes I guess you could label me "bullish" with regard IGO.
Alternatively would not consider holding  FMG......even if I was given them...(lol)


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## nedsbirdeye (3 June 2007)

michael_selway said:


> Cant really compare IGO to FMG, as FMG is vulnerable to a Nickel Price crash any time, while iron ore prices are more "reasonably priced" at the moment?
> 
> thx
> 
> ...




Yes, i agree in terms of comparing the two businesses - i was thinking in terms of an appreciating share price - FMG is over $30 a share now and some predicting it could reach $100 - with no ore yet produced!


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## Kauri (15 June 2007)

Was looking to take a bit out of a possible W5 after closing out all my prior positions a little early, but it looks like my stop may get taken...


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## porkpie324 (23 June 2007)

IGO at an interesting point, could be forming a double bottom around $7.00, if falls through that figure on volume could go to $6.00. IGO bounced off the 7.00 with good support yesterday so I took a small long pos. They are I consider one of the best junior nickel plays. porkpie


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## danc (2 August 2007)

I think this could possibly be the low,sits on three major fibbo lines,actualy four , multiply the top by .38% and take away and see what byuo get ,5.45??? the current low also it sits on major trend line off jan o7 low also on weekly has just poked its nose throu the 200 day line or 30 week line also a time factor is involved also do i see a slight change in the nickel price and supply??? or is it my imagination.


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## danc (2 August 2007)

Gees got that wrong Didnt eye, WERE too from heregot too a 50% point tday on low vol then the vol kicked in , and nickel chart changed my mind it looks like sht.


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## porkpie324 (4 December 2007)

I thought that todays announcement was good regarding the ' Tropicana' joint venture, but the market has other views, IGO has certainly been hammered today on heavy volume. Anyone else following IGO?.porkpie


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## coolcricket (13 December 2007)

Hi Guys,

I notice IGO had what appears to be a positive announcement today, yet price was down 6 cents to $8.00, does anyone have any ideas why this was so? If anyone could have a quick go at summing up the nickel results, it would be appreaciated.

http://www.asx.com.au/asx/statistic...GO&timeFrameSearchType=D&releasedDuringCode=T


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## ba229 (24 December 2007)

This is a stock I have held for a while now.

One thing that puzzles me about it is the large price swings it has.

Today it is up 7%. It's a bit like watching a yoyo.

Does anyone have any opinions on why it swings so much? Is there rumours of take overs or is it just to do with metal price fluctuations?


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## porkpie324 (24 December 2007)

I know what you mean, IGO has had some swings of late. But what a great trader it's been, this company is making good profits has a great future with Tropicana and is dept free so every time it dips I buy a few more and then trade these swings with CFD's, IGO is one of my FAB 4 as I call them along MCR SMY & JML, trade these on sell offs and you can't go wrong ( I bought into JML last Friday). porkpie


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## porkpie324 (2 February 2008)

Intresting to note, when comparing IGO with MCR &SMY two other junior nickel miners is the relative strength, IGO has certainly out performed the other two.porkpie


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## porkpie324 (22 February 2008)

Who is watching IGO at the moment, fundamentals good, relative strength with materials sector good, with other junior nickel stocks good. But chart wise is IGO making a triple top as it tests its all time high.porkpie


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## porkpie324 (27 February 2008)

I think that I'm talking to myselfe about IGO, they have broken through the $9.00 resistance today, IGO are the best performing junior Nickel stock. porkpie


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## So_Cynical (27 May 2008)

Hey Porkpie....whats the go with IGO?

The chart looks a little sick at the moment.

They have cash, almost no debt, and good cash flows and JV's, tenements etc.

So why is the SP falling so profoundly. :dunno: is it simply the nickel 
price and the currency arrangement.? or is there more to it?


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## Tukker (27 May 2008)

From a purely TA point, this one passes my rules.  Its hovering around its lowest low for the last 6/7months, crossed below its 200 day MA, my bolinger signals a buy, and stochastics match up to me.  If there isn't anything wrong with the company I think there will be a short term rally, so Ill take a nibble.


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## lucifuge (29 August 2008)

hmmmm.....anyone notice the recent activity of this one? From such a strong baseline trend way back as late 2003, I couldn't help but pick up some. I think the volume is starting to pick up with associated positive money flows. Anyway, one to keep our eyes on.


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## Sean K (29 August 2008)

lucifuge said:


> hmmmm.....anyone notice the recent activity of this one? From such a strong baseline trend way back as late 2003, I couldn't help but pick up some. I think the volume is starting to pick up with associated positive money flows. Anyway, one to keep our eyes on.



Looks like a lot of other charts at the moment lucifuge. August has been a good month for a lot of stocks, thus represented in the bounce on the XAO. This may have put on a bit more than most, but lost a heck of a lot prior as well.


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## lucifuge (29 August 2008)

But what is most significant and should not be ignored is that the baseline trend established *before* the resource boom. Not a lot of other resource stocks can claim that. As the current price is marginally above that expectation now, there is at least some confidence *chart-wise* anyway.



kennas said:


> Looks like a lot of other charts at the moment lucifuge. August has been a good month for a lot of stocks, thus represented in the bounce on the XAO. This may have put on a bit more than most, but lost a heck of a lot prior as well.


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## adobee (18 September 2008)

Anyone holding this give me a quick rundown of why NAB has bought a big chunk ?? Is this something to look at ??


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## Standrew (16 December 2008)

According to its 2008 annual report, IGO has a cash backing of $1.25 per share,production assets that generated an after tax profit of $51 million (i.e. Earnings Per Share of 44 ¢) and paid fully franked dividends of 17 ¢ per share.

See AGM08 Presentation

http://imagesignal.comsec.com.au/asxdata/20081119/pdf/00904393.pdf

Legend Mining Limited (ASX: LEG) today announced that it has acquired 3.4 million shares in Independence Group Limited (ASX: IGO) at an average cost of $1.44 per share. The shares were purchased on-market over the past six weeks.


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## rico01 (16 December 2008)

Had alook at that myself today stan when i saw LEG had taken  alarge chunk of them.They look to have a lot of projects on the go .They have benefited from the surge in the nickel price last year but have yet to face the prospect of current prices after there hedging at $17  lb runs out next june
http://www.kitcometals.com/charts/nickel_historical_large.html#6months
  After that we,ll see how good they are


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## bigdog (4 May 2009)

http://www.wabusinessnews.com.au/en-story.php?/1/72160/Independence-directors-net-2-3m-in-sale/dba

*Independence directors net $2.3m in sale*
4-May-09 by Rebecca Lawson

Two directors with nickel miner Independence Group have sold over $2.3 million worth of shares through on-market trades.

Managing director Chris Bonwick has pocketed $1.81 million after he sold 500,000 shares (May 4) while non-executive director Rodney Marston netted $559,480 through the sale of 150,000 shares. (May 1)

Shares in Independence, which operates the Long nickel mine in WA, closed up 11 cents at $4 today.

Comment was being sought from Mr Bonwick at time of publishing.

Last week Independence reported a net profit after tax of $5 million for the March quarter, a turnaround from the previous quarter's net loss of $1.2 million.

At the end of March, the company had $128.7 million in cash and net receivables. 

ASX ANN
29/04/2009  	 10:41   		March 2009 Quarterly Report


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## rustyheela (22 July 2009)

*IGO*

nice breakout of resistance @ $ 4.98, on healthy volume and close on near high of the day. Im on this. Hope there is some follow through. A retrace to support on low volume would be a good sign
Hope my chart works its the first time ive tried to upload a chart here


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## Miner (10 December 2014)

OMG
I was looking for posting on IGO and realised no one touched this thread since 2009 - about 5 years.
So probably no one is interested on this thread and hence to respond to my message.
I will keep trying any way.
Question is IGO probably has another 3 years life.
So how come Macmahon MAH  got 10 years mining contract in Tropicana Gold Project ?

Per McMahon advertisement 
The Tropicana Gold Project is a large gold mining operation located 330km north-east of Kalgoorlie, on the edge of Western Australia's Great Victoria Desert. Macmahon's 10 year mining contract includes all mine planning, drill and blast, load and haul, crusher feed and other associated works. The Project represents the most significant Australian gold discovery of the last decade and as an alliance partner with AngloGold Ashanti Australia, Macmahon have invested heavily in new mining equipment for the project, including the purchase of a new fleet of 240 tonne capacity trucks, large hydraulic excavator, new drills and technology.


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## So_Cynical (11 December 2014)

Tropicana from memory is a very large low grade deposit and was always going to be a long mine life operation....with marginal profitability at today's POG.


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## JJZ (29 January 2016)

*IGO Announcement :- Becoming a substantial holder from NAB*

Taking my first baby steps this week paper trading and I came across this:

http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=IGO&timeframe=D&period=T

Can someone please explain to me what this means? Is it a good thing?

I would have thought increased interest from one of the big banks would be a good thing, but prices seem to have gone sideways today...


Thanks 

JJZ


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## So_Cynical (29 January 2016)

*Re: IGO Announcement :- Becoming a substantial holder from NAB*



JJZ said:


> Taking my first baby steps this week paper trading and I came across this:
> 
> http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=IGO&timeframe=D&period=T
> 
> ...




The bank's trade in and out of stocks all the time, any insto buying is a good sign but generally no big deal unless it's a small stock with a new substantial holder, that may indicate something.


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## oldblue (30 January 2016)

*Re: IGO Announcement :- Becoming a substantial holder from NAB*



So_Cynical said:


> The bank's trade in and out of stocks all the time, any insto buying is a good sign but generally no big deal unless it's a small stock with a new substantial holder, that may indicate something.




In this case the combined holdings of all NAB related entities have nudged above 5% - mainly MLC Investments. No, not a big deal but probably a mild vote of confidence in IGO.


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## notting (30 January 2016)

Nabs trading history is very ordinary, they are hacks, so take no confidence from that.
IGO has had a horrific time ever since it decided to do a largly script bid for SIR when IGO it was the darling of the Goldie's.

IGO is now running on  its 53.2% exposure to SIR startup acquisition rather than it's gold assets which used to be great, now they are diminished in the face of this acquisition and exposure to nickel, zinc.
So IGO acquired SIRs debt and had to go into further debt by funding the cost of the part payment with $0.52 cash plus the script bid


$260M capital spend remaining to complete current project
Cash and bullion of $59.6M and debt of $200.1M at quarter-end 
$15.9M of operating cash flow for the quarter, which is $4.3M on exploration
Unaudited underlying EBITDA of $29.3M and unaudited loss after tax of $7.2M

Like the sound of that?

Oh OK how bout the chart




Maybe wait until Nickel and turns and the chart looks like it is starting to go up.
Who knows you might pick it up for 20c.

Beats me why these fools continue to spend millions exploring during a commodity bust.
All they have to do is explore the ASX for hundreds of discoveries trading at next to nothing and making a bit of cash,  on their already discovered resources, trading at next to nothing.


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## notting (28 April 2016)

> $200M spend remaining to deliver Nova Project
> At quarter end $310M debt remains undrawn from $550M facility
> Already carrying a debt of $240M
> Having generated at 5.5M loss total for the last 3 quarters.




Guess it's easy to sleep at night when it's other peoples money, shares off 10% on those magnificent figures.


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## greggles (5 September 2017)

IGO has been on a nice run since the end of July when the company released its June 2017 Quarterly and a Mineral Resource Estimate and Exploration Update for its flagship Nova mine. 

$3 to $3.71 in a little over a month is good going. I missed this one but its on my watchlist now.


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## Miner (27 July 2018)

IGO final quarter (impressive) and FY18 performance is published.
Market is too hungry now a days (or always) and I would not be surprised if Monday IGO goes south.
Yes, holding and would be more than happy if it goes north.


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## Miner (4 July 2019)

Miner said:


> IGO final quarter (impressive) and FY18 performance is published.
> Market is too hungry now a days (or always) and I would not be surprised if Monday IGO goes south.
> Yes, holding and would be more than happy if it goes north.



Could it be possible that there was no posting on IGO thread for a year ?
If so, interesting.
Today IGO has published a result which probably will make its holders greedy to be expecting always under promise and getting better than expected delivery. I am not complaining 
https://www.asx.com.au/asxpdf/20190704/pdf/446cllk9t3kc4x.pdf
Surely in the forthcoming Nickel Conference the CEO will be full grin to project how wonderful he is


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## Sean K (4 July 2019)

Miner said:


> Surely in the forthcoming Nickel Conference the CEO will be full grin to project how wonderful he is



Had a good year. Mark Creasy looks to be doing pretty well out of this. Owns 15% of a $2.6b MC. Nice. They've got a lot of cash in the bank and not spending it all on exploration. Are they looking to buy anything else as a bolt on?


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## Miner (4 July 2019)

kennas said:


> Had a good year. Mark Creasy looks to be doing pretty well out of this. Owns 15% of a $2.6b MC. Nice. They've got a lot of cash in the bank and not spending it all on exploration. Are they looking to buy anything else as a bolt on?



Good thought.  I noticed some organizations IGO put money. Let's hope that could be the case with gold prospects for them as well.


----------



## UMike (14 November 2019)

kennas said:


> Had a good year. Mark Creasy looks to be doing pretty well out of this. Owns 15% of a $2.6b MC. Nice. They've got a lot of cash in the bank and not spending it all on exploration. Are they looking to buy anything else as a bolt on?



Looks like they are trying to add PAN with a script offer.
Probably a good fit as PAN have signalled they intend to raise more funds.


----------



## The Triangle (27 December 2019)

UMike said:


> Looks like they are trying to add PAN with a script offer.
> Probably a good fit as PAN have signalled they intend to raise more funds.



Would be a good fit for them or Western Areas (But doubt they have the MC to taken them out - would need to be some form of merger).  The share offer was not widely liked by PAN.  I'm surprised that IGO has not put in a $/share combination offer like they did for Sirius.   I think this saga is not over yet and that IGO will have another crack at PAN.


----------



## sptrawler (27 December 2019)

The Triangle said:


> Would be a good fit for them or Western Areas (But doubt they have the MC to taken them out - would need to be some form of merger).  The share offer was not widely liked by PAN.  I'm surprised that IGO has not put in a $/share combination offer like they did for Sirius.   I think this saga is not over yet and that IGO will have another crack at PAN.



I also think there will be some M & A in the nickel space.


----------



## greggles (8 January 2020)

IGO announced this morning that 1H20 metal production has beaten previous guidance. The share price has punched through resistance at around $6.60 and is currently at nine year highs at $6.97.


> Independence Group NL (‘IGO’ or ‘theCompany’) (ASX: IGO) is pleased to report preliminary metal production for the Nova and Tropicana operations for the December 2019 Quarter (2Q20) and for the first half of the 2020 Financial Year (1H20). Consistently strong operational performance at Nova has resulted in nickel, copper and cobalt production for 2Q20 and 1H20 that exceeds the pro-rata guidance range for FY20. Meanwhile at Tropicana, gold production and gold sales has also exceeded pro-rata FY20 guidance following an excellent 2Q20 result.









Outlook improving for IGO. Could see more gains here if their focus on delivering cost improvements and operational efficiencies proves successful.


----------



## barney (8 January 2020)

greggles said:


> The share price has punched through resistance at around $6.60 and is currently at nine year highs at $6.97.




That is a serious gap up on Volume  for a $4 Billion dollar Company


----------



## greggles (9 January 2020)

barney said:


> That is a serious gap up on Volume  for a $4 Billion dollar Company




Up one day, down the next.

IGO announced today that its off-market takeover bid for Panoramic Resources Limited has now lapsed due to defeating conditions. IGO currently down 3% to $6.70 as a result. 

Still, it seems a fairly minor pothole on IGO's road forward. Peter Bradford, Managing Director and CEO of IGO stated: "IGO’s decision to allow the Offers to lapse reflects our disciplined approach to M&A and IGO will continue executing its growth strategy with a focus on returns and value creation for our shareholders."

I reckon we'll see IGO continue to make some reasonable gains during 2020.


----------



## System (22 January 2020)

On January 22nd, 2020, Independence Group NL changed its name to IGO Limited.


----------



## sptrawler (7 December 2020)

IGO to do a timely capital raising, while the market is strong, sounds like a good move IMO.


			https://www.igo.com.au/site/PDF/64526ddd-2aa1-4a08-87d9-6f942ff00b5d/InstitutionalPlacementandSharePurchasePlan
		

So it looks as though the raising, is to buy into Chinese owned Greenbushes lithium mine, that would mean IGO have exposure to all the battery materials, interesting play.








						Australia's IGO to buy stake in Greenbushes lithium mine from Tianqi - sources
					

Australian nickel-gold miner IGO Ltd is in negotiations to buy a minority stake worth close to $1.5 billion in a vehicle holding Tianqi Lithium Corp's stake in the Greenbushes lithium mine, sources told Reuters.




					www.reuters.com
				



From the articile:

Australian nickel-gold miner IGO Ltd is in negotiations to buy a minority stake worth close to $1.5 billion in a vehicle holding Tianqi Lithium Corp’s stake in the Greenbushes lithium mine, sources told Reuters.

China’s Tianqi, one of the world’s top producers of lithium chemicals used in electric-vehicle batteries, urgently needs the proceeds from the sale to repay loans that were due for repayment at the end of November.
Representatives for Tianqi and IGO did not immediately return requests for comment. On Monday afternoon, Perth-based IGO requested a trading halt for its shares until Dec. 9, pending a material acquisition. 
Tianqi, which alongside Albemarle Corp operates the Greenbushes lithium mine in Western Australia, last week negotiated with its banking syndicate a repayment extension on $1.88 billion of loans that were used to acquire a 23.8% stake in Chilean miner SQM in 2018 and were due Nov. 29.

The acquisition includes a stake in Greenbushes - the world’s largest hard-rock lithium mine - one of the sources said. The second source said it also included other assets, mostly in Australia.

I don't hold, but am interested.


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## Miner (7 December 2020)

sptrawler said:


> IGO to do a timely capital raising, while the market is strong, sounds like a good move IMO.
> 
> 
> https://www.igo.com.au/site/PDF/64526ddd-2aa1-4a08-87d9-6f942ff00b5d/InstitutionalPlacementandSharePurchasePlan
> ...



Frankly the trading halt notice escaped my attention. The announcement made almost end of the trading hours. There was no abrupt change in volume. So the TH was well kept secret. 
It has been a complacency for me to avoid watching the strong horses in my stable. IGO is one of them. NCM used to another one, but off late it is limping and time to shoot it.
Returning to Tianqi - interesting. At one time Tianqi funded the expansion and then backed off. If my memory is not failing Mineral Resources had a nice agreement with them letting Tianqi to pay off for their expansion .
But if the trading halt is to get IGO is to buy would be a challenge for a company from metal sector to non metal sector even if Nova is a great plant, Nickel and Lithium are both used for EV. Strategically IGO would be putting all eggs in one basket - to me a different diversification would reduced the risk. Flip side if EV goes like rocket then IGO board will be laughing at me with their returns and so share holders.
So I am staying calm and watch the price change when trading halt is removed.
If market reacts positively and keeps the moment at least 7 days after CR closing date, then I am wrong. If the price lowers down that would  mean, I was right.
Either way, I will be gainer with a long standing hold - sell on XR or add up on CR.
Two more days will dictate the direction .


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## sptrawler (8 December 2020)

Miner said:


> So I am staying calm and watch the price change when trading halt is removed.
> If market reacts positively and keeps the moment at least 7 days after CR closing date, then I am wrong. If the price lowers down that would  mean, I was right.
> Either way, I will be gainer with a long standing hold - sell on XR or add up on CR.
> Two more days will dictate the direction .



$3.75 is a hell of a discount to recent price around $5, as you say it will be interesting to see what happens to the price, when they start trading.


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## Miner (8 December 2020)

Good morning all
Reading AFR this morning : about $800 m equity to support $2 b purchase of Tianqi stake, $100 M for retail and $700 m for instos, at a stock price   10 pc less than market price .
Wednesday will be interesting drama on XR price .


----------



## sptrawler (10 December 2020)

More info on the history of the Greenbushes lithium deal.


			Bloomberg - Are you a robot?


----------



## Dona Ferentes (10 December 2020)

> _"We have transacted at what we believe is the bottom of the lithium price cycle and on the eve of the explosion of the electricification of  transport and disruptive demand for lithium_," IGO MD Peter Bradford said. "_We do not believe we were the top bidder, but we were prepared to consider a  transaction structure that worked for Tianqi and which provided IGO the *once in a lifetime* opportunity to invest in what is truly a world-class integrated lithium business_."



_"once in a lifetime" - _how often have I heard that!?


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## Dona Ferentes (10 December 2020)

Miner said:


> Good morning all
> Reading AFR this morning : about $800 m equity to support $2 b purchase of Tianqi stake, $100 M for retail and $700 m for instos, at a stock price   10 pc less than market price .
> Wednesday will be interesting drama on XR price .



_IGO intends to fund the acquisition by taking on $1.1 billion in  debt, raising up to $766 million in new equity and using its cash  reserves. The IGO raising launched on Wednesday involves the issue  of up to 166 million new shares, or about 28 per cent of the  current issued capital. The raising is made up of a $446 million  fully underwritten placement at $4.60 and a $320 million 1 for 8.5 pro  rata entitlement offer.

IGO considers it a transformative deal for the company as it looks to  a future in battery metals and pursues a sale of its 30 per cent in the * Tropicana *gold mine in WA. Mr Bradford said the proceeds from any  sale of the Tropicana stake would be used to pay down debt associated  with the Tianqi deal. _


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## sptrawler (10 December 2020)

Dona Ferentes said:


> _"once in a lifetime" - _how often have I heard that!?



Yes it always rings alarm bells for me, very much like an offer that is too good to be true.

One thing I have wondered is, there is no statement as to the resource reserve, or mine life.


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## Miner (10 December 2020)

sptrawler said:


> $3.75 is a hell of a discount to recent price around $5, as you say it will be interesting to see what happens to the price, when they start trading.



the rights price is $4.6 and not $3.75.






Notwithstanding the share price before CR, would suspiciously questionable 
Look at the prices 5 days before trading halt - consistently up and  up .
I reckon $4.7 was the realistic price then and all jacked up.
2 shares for 17 holding - ambitious.
All would depend on how instos participate and disclosure comes on 11th dec  - retail holding is nothing 
Wait and see on Friday. My medium term fear is IGO's capability to manage a totally new and unknown business for them, unknown developed culture (sorry but it will not be same culture as a typical Australian or US owned company. Look at CITIC Pacific - looks like you are in a foreign land occupied in Australia. Hope IGO does not land into a foreign land with acquisition.


----------



## sptrawler (10 December 2020)

I like the idea, but I would like to see more technical reasoning behind the bid, expected return  etc.
I only hold MCR and would like to add to battery stocks, I think IGO are well run but a bit more info would be appreciated.


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## Miner (11 December 2020)

sptrawler said:


> I like the idea, but I would like to see more technical reasoning behind the bid, expected return  etc.
> I only hold MCR and would like to add to battery stocks, I think IGO are well run but a bit more info would be appreciated.



for the amount of money IGO is raising, available information and strategies behind acquisition, IMO ask details. Just battery hype is not alone good enough. where is the plan ? There is a stake of $billion


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## sptrawler (11 December 2020)

Miner said:


> for the amount of money IGO is raising, available information and strategies behind acquisition, IMO ask details. Just battery hype is not alone good enough. where is the plan ? There is a stake of $billion



Exactly, lots of money for a minority stake, in an unknown resource size?
It is a bit like the IFL $1.4b bid for MLC, scared me, I just couldn't see where the value was.
I wonder if more info will be forthcoming?


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## Miner (11 December 2020)

sptrawler said:


> Exactly, lots of money for a minority stake, in an unknown resource size?
> It is a bit like the IFL $1.4b bid for MLC, scared me, I just couldn't see where the value was.
> I wonder if more info will be forthcoming?



Market once again proved my analysis (??) does not align with market expectation.
IGO opened with a big thunder. 
Already made up my mind yesterday. Sold out 75 pc of my holding to get some gun powder.


----------



## sptrawler (12 December 2020)

The pick up on the raising, is a nice gain, well done @Miner


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## Dona Ferentes (21 September 2021)

Now  a $6billion company

there is a "Response to Media Speculation" note out today:


> IGO Ltd notes recent media speculation regarding discussions between IGO and Western Areas Limited regarding a potential change of control transaction. While IGO does not comment on media speculation, the Company advises that discussions remain at an early stage with due diligence having commenced in recent days. IGO will progress due diligence over coming weeks, however there is no certainty that a definitive transaction will result once this period of diligence is complete.



And from the Media:

_It is understood the nickel/copper miner finally got access to  Western Areas books mid last week, and was given about four weeks to  try to turn its indicative $1 billion odd offer into something more  serious.

IGO is  expected to run a deep dive study on Western Areas new Odysseus mine,  which is due to produce its first nickel concentrate next year and run  for the next decade or so. Odysseus production profile could fit  neatly with IGO's Nova - the former would hit its stride as the latter  reaches maturity - and form another pillar in IGO strategy to be a  globally relevant producer of metals used by the clean energy sector.

From  the outside, IGO reckons it could work and lobbed a $1 billion odd  scrip heavy offer in August. *The question is whether Odysseus looks as  good from the inside.*_


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## Sean K (25 October 2021)

Been over a month that IGO have been looking at WSA's books. Nada.. zzzzzz


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## Sean K (3 December 2021)

Looks like $10.00 has firmed as support, for now.


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## sptrawler (16 December 2021)

IGO to buy WSA for $1.1bn, interesting.






						NoCookies | The Australian
					






					www.theaustralian.com.au


----------



## divs4ever (16 December 2021)

i will await the details  but half expect i will crystallize a loss here ( i would prefer a scrip deal if it is offered )


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## divs4ever (16 December 2021)

IGO TO ACQUIRE WESTERN AREAS LIMITED VIA BOARD RECOMMENDED SCHEME OF ARRANGEMENT 

Transaction Highlights
 • IGO Limited (IGO) and Western Areas Limited (WSA) have entered into a Scheme Implementation Deed (SID) pursuant to which IGO will acquire 100% of WSA via a Board recommended scheme of arrangement 
• Consideration of A$3.36 per WSA share, to be paid 100% in cash 
• Transaction implies a value of A$1,096 million for WSA on a fully diluted basis and will be funded from IGO’s existing cash reserves and a new A$900 million senior-secured debt facility 
• Transaction consideration reflects a premium of 3.7% to close and 35.5% to the undisturbed price of WSA on 18 August 2021 of A$2.48 (the day before the fact discussions had commenced were announced to ASX) 
• For IGO shareholders, the transaction delivers an enhanced nickel portfolio aligned to strategy, with the cash funding structure resulting in no dilution to IGO shareholders. The transaction represents a logical consolidation of the Western Australian nickel sector and is expected to be free cash flow accretive to IGO by FY24 
• WSA shareholders will benefit from the certainty of a Board recommended, cash transaction at a significant premium to WSA’s undisturbed share price as well as a significant premium to the consensus average broker valuation. Transaction Overview IGO Limited (ASX: IGO) (IGO or the Company) is pleased to announce that it has entered into a Scheme Implementation Deed (SID) to acquire 100% of Western Areas Limited (ASX: WSA) (WSA) for A$3.36/share, payable in cash, pursuant to a proposed scheme of arrangement (the Transaction).
 The Transaction values WSA at A$1,096 million on a fully diluted basis. WSA’s Board of Directors unanimously recommend that WSA shareholders vote in favour of the Scheme, and each WSA Director intends to vote their WSA shares in favour of the Scheme (in the absence of a superior proposal and subject to an independent expert concluding that the Scheme is in the best interests of WSA shareholders). 
The proposed Transaction is subject to WSA shareholder approval and court approvals. Perpetual Limited (Perpetual) (which currently owns 14.7% of the Western Areas shares) has confirmed to IGO that, if the Scheme proceeds, it intends to vote all of the shares in Western Areas that it holds (directly or indirectly) at the time of the Scheme meeting in favour of the scheme, in the absence of a superior proposal or offer to acquire any of the Shares held by Perpetual, and subject to Perpetual continuing to consider the Scheme to be in the best interests of its member. For the avoidance of doubt, Perpetual has confirmed to IGO that this intention statement:
 • does not prohibit Perpetual from selling any of its Western Areas shares, in its absolute discretion, prior to the Scheme meeting; • is only valid until 6 months after the date of this announcement or earlier if IGO decides not to pursue the Scheme; and 
• will be subject to Regulatory Guide 25 (RG25) published by the Australian Securities and Investments Commission ASX RELEASE Page 2 Transaction Benefits The Transaction will deliver benefits to both IGO and WSA shareholders. For IGO shareholders, the Transaction delivers significant benefits summarised below: 
• Transaction is aligned with IGO’s strategy focused on metals critical to clean energy 
• Cash consideration resulting in no dilution for IGO shareholders. Transaction consideration to be funded via existing cash reserves and a new debt facility. 
• Transaction is expected to be strongly free cash flow accretive from FY24 once the ramp up of the Odysseus underground mine is complete 
• Enhanced nickel portfolio and asset diversification with a combined portfolio spanning nickel and lithium including Nova, Forrestania, Cosmos, Greenbushes, Kwinana and Cosmos
 • Strategic and logical consolidation of Western Australian nickel assets with opportunities identified to unlock cost savings and future offtake synergies while also enhancing future downstream processing optionality 
• IGO’s nickel expertise and financial strength to maximise value of WSA’s portfolio via nickel development expertise combined with a strong balance sheet to de-risk and fund development of Odysseus, progress the Mt Goode PFS and continue to exploit the WSA exploration portfolio. For WSA shareholders, the Transaction delivers certain consideration at an immediate premium to last close and a significant premium to the undisturbed trading price on 18 August 2021 (the day before the fact that IGO and WSA were in discussions was announced to the ASX);
 • a 3.7% premium to WSA’s last close on 15 December 2021 
• a 35.5% premium to WSA’s undisturbed share price on 18 August 2021. 
IGO’s Managing Director and CEO, Peter Bradford, commented: “IGO’s acquisition of WSA is a logical consolidation within the Western Australian nickel landscape and further positions us on our journey to become a globally relevant supplier of metals critical for enabling a clean energy future. Both Forrestania and Cosmos are high-grade, low-cost nickel sulphide operations and this acquisition, together with our existing world class Nova nickel-copper-cobalt operation, will consolidate our position as Australia’s leading independent nickel producer.
 The unique synergies that will be unlocked across a combined Western Australian nickel hub, combined with the potential downstream optionality that this transaction brings, is expected to generate substantial value for IGO shareholders over the long term.” Overview of WSA WSA is an Australian-based mining and exploration company with a portfolio of operating and development stage nickel mines.
 It owns a 100% interest in the Forrestania Nickel Operation (consisting of the Flying Fox and Spotted Quoll underground nickel mines) and the Cosmos Nickel Operation (Cosmos), both located in Western Australia. In FY21, WSA’s Forrestania Nickel Operation, located 400km east of Perth in Western Australia, produced 16.2kt nickel at a cash cost of A$4.23/lb nickel1 through the Cosmic Boy concentrator which has a nameplate processing capacity of 550ktpa of ore and produces concentrate grades of between 15% to 16% nickel.
 WSA is also developing its second operational hub via the Odysseus Development Project (within the wider Cosmos Nickel Operation), a long-life, low-cost nickel mine with a greater than ten year mine life, which is strategically located between BHP Nickel West’s Leinster and Mt Keith mines.
 First ore from Odysseus is expected to be produced in FY22 and commence nickel concentrate production in FY23. 1 Per pound of nickel, payable terms are not disclosed due to confidentiality conditions of the offtake agreement ASX RELEASE Page 3 In addition to its existing operations and development assets, WSA has a substantial exploration portfolio, with activities focused on the Western Gawler Project in South Australia and the Metal Hawk and Mt Alexander joint ventures in Western Australia. 
Near-mine exploration initiatives at Forrestania and Cosmos are also being progressed. WSA also owns a strategic 19.9% of ASX-listed Panoramic Resources Limited, operator of the Savannah Nickel mine as well as strategic stakes in Grid Metals Corporation (5.5%) and Metal Hawk (6.6%). As at 30 June 2021, WSA has a total JORC 2012 compliant Ore Reserves of 13.3Mt @ 2.1% and Mineral Resources of 84.9Mt @ 1.1%2. 
Transaction Funding The Transaction consideration implies a value of A$1,096 million for WSA on a fully diluted basis. Transaction costs, inclusive of stamp duty, are estimated to be A$76 million. IGO intends to fund the Transaction and costs through a combination of (i) a new A$900 million senior-secured debt facility underwritten by ANZ, CBA and NAB, comprising a A$540 million amortising facility and A$360 million revolver, both with a maturity date of 30 April 20253, and (ii) from IGO’s existing cash reserves of A$552 million4 for the remaining balance. Upon completion of the Transaction, IGO will assume WSA’s existing cash reserves of A$148 million5. IGO expects to fund the continued development of Cosmos through a combination of existing cash and operating cashflows. Transaction Conditions The Transaction will be implemented by way of a scheme of arrangement (Scheme) to be proposed by WSA.
 The terms upon which IGO and WSA will implement the Transaction are set out in the SID. Key conditions of the Transaction include: 
• Approval being obtained from shareholders of WSA and Australian court approval in relation to the Scheme 
• The Independent Expert concluding that the Transaction is in the best interests of WSA shareholders, and not changing that conclusion or withdrawing its report; and 
• Other conditions customary for a public transaction of this nature. In addition, IGO has termination rights in the event of a material adverse change, prescribed occurrence or regulated event (each as defined in the SID) occurring in relation to WSA. The SID includes customary exclusivity arrangements including “no shop” and “no talk” restrictions notification obligations and matching rights for IGO as well as market standard terms and break fees. 
Full details of the terms and conditions of the Scheme are set out in the SID, a copy of which was released by Western Areas today. Timetable Further details of the timetable will be provided in due course however the Transaction is targeted for completion in April 2022. Advisers IGO is advised by Macquarie Capital (Australia) Limited as financial adviser and Herbert Smith Freehills as legal adviser. This announcement is authorised for release to the ASX by the IGO Board of Directors. 

 DYOR 

 i hold WSA and PAN , looks like i will be crystallizing a loss even if a superior bid comes in 

 at least Macquarie Capital  scores a few bucks ( i hold MQG 'free-carried ' )


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## sptrawler (16 December 2021)

It is an interesting play by IGO, there must be something in it for them as they have seemed to be pretty astute in the past, but WSA has struggled in recent times due to reduced recovery rates at Forrestania from memory.
It certainly consolidates a lot of the W.A nickel space, really only leaves BHP, IGO and MCR.


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## Knobby22 (31 December 2021)

My monthly pick.
Going up and going to do well dealing with junior AZY.


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## Tyre Kicker (31 December 2021)

I’ve taken the profits on this one. Been very good to me.


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## Sean K (13 January 2022)

This has had a good 12 months. MC now $9b.  

Lots of very nice earning projected. Transformational year. 

I almost bought at the break through $10 but I've been limiting myself to juniors.


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## Sean K (4 February 2022)

Check out the buying the weakness on IGO.


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## divs4ever (21 February 2022)

RESPONSE TO MEDIA SPECULATION

IGO Limited (ASX:IGO) (IGO or the Company) notes recent media speculation that the Company may be
considering an acquisition of the CSA Copper Mine (CSA) from Glencore.
IGO confirms that it is in exclusive discussions with Glencore in relation to a proposed sale of CSA. However,
at this stage, discussions between IGO and Glencore are incomplete and IGO is continuing to conduct due
diligence as part of the ongoing sales process. IGO has made no decision and nor has it entered into any
definitive acquisition agreement with respect to CSA.
IGO regularly evaluates acquisition opportunities against a range of factors and will only pursue an
acquisition if it makes strong strategic and financial sense for its shareholders.
IGO will keep the market informed in accordance with its continuous disclosure obligations, and otherwise
does not intend to comment on such matters.
IGO is not aware of any other matter requiring disclosure under the ASX listing rules and confirms it is in
compliance with ASX Listing Rule 3.1.

DYOR

i do not hold IGO ( but have in the past )


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## Sean K (1 March 2022)

I'm feeling good about this. Just wasn't sure about it. SP likely to tank then.


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## Sean K (11 April 2022)

Mr Market likes the new deal for WSA. MC over $10b now and with WSA it's going to be huge. If nickel keeps going this is going to be a very profitable company. But, will nickel keep going? It's hard not to see prevailing geopolitical issues and the race to EVs that it doesn't. Could be a number of  years before supply and demand equal out somewhat. If nickel settles above $30Kt, producers are going to have to find things to do with their cash flow. Or, the bigger players with a healthy balance sheet might want to add on the ready made ATMs.


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## Sean K (20 May 2022)

This should probably support the sp this am. Has gone through a significant correction the past 6 weeks in line with the market recently but a 30% fall is significant. Lithium dropped from 500K to 450K at the same time so that might have contributed. BHP saying that lithium was a short term thing and they weren't going anywhere near it might not have helped either. Probably ran ahead of itself too.


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## Dona Ferentes (23 September 2022)

Chinese giant Tianqi Lithium Corp can thank Australian nickel and gold miner IGO for helping the Chinese company produce its first net profit in two years.

Tianqi is one of the world’s top lithium producers, but wouldn’t have been in such a position if it hadn’t been for the $US1.4 billion deal with IGO covering the Greenbushes mine and Kwinana refinery in late 2020. The deal saw IGO purchase a 49% stake in Tianqi Lithium Energy Australia for $A1.9 billion.

That left IGO with a 25% interest in the Greenbushes lithium mining and processing operation in Western Australia – the largest operating lithium mine in the world. IGO also got interest in Tianqi’s Kwinana lithium hydroxide plant, located south of Perth.

 Tianqi said in a recent filing to the Shenzhen Stock Exchange its net income was 85.8 million yuan ($US13.3 million) for the first half of 2021, up from a loss of 696.6 million yuan a year earlier.

Reuters said the result implies a second-quarter profit of 333.7 million yuan, after a 247.9-million-yuan loss in January-March, marking the three months to Tianqi’s best quarterly result since the fourth quarter of 2018.

Tianqi posted seven straight quarterly losses from mid-2019 after a precipitous three-year plunge in lithium prices – mainly driven by oversupply – left the company short of funds and facing default on billions of dollars in loans.

But the December 2020 deal with IGO saved it from collapse, or as Reuters reported it, Tiangqi “_secured a $1.4 billion lifeline investment in its Australian operations from IGO Ltd and has been boosted by a near tripling in lithium carbonate prices over the past 12 months as demand from the EV sector roars back.”_

First-half revenues were 2.35 billion yuan, Tianqi said in the filing, up 25.13% from a year earlier....









						Lithium Deals Show Aussie-China Ties Not Totally Cut – ShareCafe
					

Despite China having spent the past year or more monstering Australia and Australian companies, the ties between both countries continue, especially in the strategically important areas of lithium mining and processing.




					www.sharecafe.com.au


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## Miner (23 September 2022)

Dona Ferentes said:


> Chinese giant Tianqi Lithium Corp can thank Australian nickel and gold miner IGO for helping the Chinese company produce its first net profit in two years.
> 
> Tianqi is one of the world’s top lithium producers, but wouldn’t have been in such a position if it hadn’t been for the $US1.4 billion deal with IGO covering the Greenbushes mine and Kwinana refinery in late 2020. The deal saw IGO purchase a 49% stake in Tianqi Lithium Energy Australia for $A1.9 billion.
> 
> ...



I hold IGO and a great company.

But the local management style with an attitude from HR asking people to work 50 hrs/week with a typical pay of 40 hrs/week unlikely to attract better people .
So unless the work attitude improves, the profit is a short time gain.


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## Gunnerguy (26 September 2022)

Wonder what people think about a Put Credit spread on IGO for Nov or Dec.
I get PM if it doesn't drop, and may be interested in actually being assigned at $12.
..... Say $12/$10 Put spread. Delta for the Nov17 is 0.23, and 0.26 for Dec15.
Any thoughts ?

Gunnerguy


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## Sean K (19 October 2022)

I've been waiting for another decent correction in this SP to add, but I find myself skimming some off the top instead... Could be on the radar for a RIO if they pursue their battery theme. BHP have stated they're not chasing lithium at the moment so time will tell if they've got that one correct, much like their exit from Colombian coal.


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## Sean K (14 November 2022)

This has been a champion since July. MC now over $12.5b. Got no idea how to value it to know if it's getting expensive, or not. I suppose the main theme here is Li and Ni and if the perceived future demand is going to remain it might keep going up. If QoQ EBITA and net profit keep going up at 50-100% maybe it's got some room to grow. Waiting for another pull back to add some more but I might be missing the boat.


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## The Triangle (4 December 2022)

Page 3 of The west this morning has a story about part of the powerplant at IGOs nova mine burning down.

They are suggesting the mine will be offline for the rest of the year.

Share price monday should be interesting.  Presumably they have very good business interruption insurance so this may work to their advantage over the long-run. (As it did for koolan island and mgx)









						Hundreds of workers evacuated from WA mine site after fire
					






					www.9news.com.au


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## Miner (4 December 2022)

The Triangle said:


> Page 3 of The west this morning has a story about part of the powerplant at IGOs nova mine burning down.
> 
> They are suggesting the mine will be offline for the rest of the year.
> 
> ...



Thanks mate.
It is a startling story but sad for mining business


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## Sean K (4 December 2022)

The Triangle said:


> Page 3 of The west this morning has a story about part of the powerplant at IGOs nova mine burning down.
> 
> They are suggesting the mine will be offline for the rest of the year.
> 
> ...




Oh dear, that will cause a knee jerk for sure. Nova is contributing about 1/3 at the moment so that will be a hit depending on how long it's down for. If only they had windmill back up.


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## Miner (4 December 2022)

Sunday Times 4 December


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## sptrawler (4 December 2022)

Might be a buying opportunity, sounds like a very hybrid system, so if the control room went up it could be a complex repair.
Maybe hire a few self contained skid mounts.









						Solar expansion at WA mine to deliver 100% renewables in daylight hours
					

Remote power generation specialist Zenith Energy will build upon its renewable energy options at Western Australian miner IGO’s Nova nickel site to demonstrate it is possible to use 100% renewables to meet the demands of an operational mine site.




					www.pv-magazine-australia.com
				












						Independence to go solar at Nova
					

Zenith Energy will build a solar plant to add its existing diesel power station.




					thewest.com.au


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## Sean K (4 December 2022)

sptrawler said:


> Might be a buying opportunity, sounds like a very hybrid system, so if the control room went up it could be a complex repair.
> Maybe hire a few self contained skid mounts.
> 
> 
> ...




I'm not sure how far advanced they with that solar array. I assume it goes into the control room.

From 30 Aug sustainability report.

(edit: much more advanced than I thought)


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## sptrawler (4 December 2022)

Sean K said:


> I'm not sure how far advanced they with that solar array. I assume it goes into the control room.
> 
> From 30 Aug sustainability report.
> 
> ...



The investigation will make good reading.








						Hundreds of workers evacuated from WA mine site after fire
					






					www.9news.com.au
				




Sounds as though the fire started in the diesel engine room.









						Fire knocks out IGO nickel mine
					

The battery minerals producer’s Nova nickel mine will be out of action for several weeks after a fire at a power plant attached to the operations.




					www.afr.com
				



From the article:
IGO said the damage was extensive but had been contained to the diesel engine room at the 10-megawatt power station, which is owned and operated by off-grid power supplier Zenith Energy.

The mine is expected to be out of action for several weeks in the aftermath of the fire, which started early on Saturday morning and was put out by the Nova emergency response team.

No one was injured, and only essential staff remain on site after IGO moved to send fly-in, fly-out workers home over the weekend.


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## Sean K (4 December 2022)

sptrawler said:


> Might be a buying opportunity.




Yeah, I'll be tempted to add some more if there's an overreaction. Just hard to gauge what that might be...


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## Sean K (5 December 2022)

sptrawler said:


> The mine is expected to be out of action for several weeks in the aftermath of the fire, which started early on Saturday morning and was put out by the Nova emergency response team.




"mining operations will be able to recommence in two weeks, while restoration of the full power supply to operate the processing facility is expected to take approximately four weeks."

I wonder if Zenith take a hit for this? Might depend on the investigation.









That's not too bad. Might not be much of a knee jerk to that. But you never know. Price action heading down to this general support line will be tempting for me. Maybe even $14.


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## bk1 (5 December 2022)

I would have thought that the Kwinana Refinery Train 1 reaching commercial production, announced at the same time, would offset the news about Nova.


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## sptrawler (5 December 2022)

If the power system is owned and operated by Zenith, I would guess it is down to them. There are probably skid mounts on the way up there already, it will be a busy few days for the sparkies.


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## Sean K (6 December 2022)

Well, I didn't think the $14.40ish support would have held after that news but it seems to have stayed above and well above where I thought it might have gone worst case. So, no major buying opportunity on knee jerk sell-off really. Maybe after they've assessed it and it's out for 12 months might be a different story.


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## peter2 (6 December 2022)

Yes boss, did it.

_Edit: If *IGO* goes down further to $13 - $14 I'll add it into another conservative portfolio that already holds BHP. 
I'm bullish multi-metal producers, especially lithium, nickel, copper. _


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## sptrawler (6 December 2022)

peter2 said:


> View attachment 150163
> 
> 
> 
> ...



Good plan Peter, I was reading an article today that was discussing battery technology, CATYL sounds like it might have developed a Li ion blade battery, they are talking 1,000km range. Now if that is accurate that is a huge jump forward and will be a game changer for E.V's, that in turn also means nickel will be back front and centre with lithium.


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## Sean K (22 December 2022)

Well, this is good news. Probably slightly faster than expected?


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## Sean K (Monday at 8:44 AM)

Good news for ESS holders. Not sure what value this really adds to IGO at this stage. 

IGO will now have so many exploration projects after WSA and now this that they won't know where to look next.


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