IGO - IGO Limited

[rustyheela]

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

 

[Miner]

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.

 

[So_Cynical]

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.

 

[JJZ]

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

 

[So_Cynical]

Re: 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

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.

 

[oldblue]

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

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.

 

[notting]

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.

 

[notting]

$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.

 

[greggles]

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.

 

[Miner]

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.

 

[Miner]

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

 

[Sean K]

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?

 

[Miner]

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]

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]

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]

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]

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]

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]

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]

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