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IGO - IGO Limited
- Thread starter seaurchin
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MovingAverage
Just a retail hack
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IGO has been very kind to me...was a discretionary trade, but offloaded my holding today. It's going Ex tomorrow so will get back in for the usual div stripping discount.
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dropping more would tempt me to look hard at it again
i bought in for the Tropicana gold exposure , and left when they exited that exposure ( at a reasonable profit )
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@peter2 - I'm just revisiting the IGO thread after a while after getting disenchanting nickel prices and performances of nickel miners with some old darlings like IGO.
Are you still waiting for a better price for IGO to re-enter, or are you still watching and waiting?
I obviously did not follow it to find a big dividend was paid not long ago.
DNH and last nickel stock I have CTM at a great loss.
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IGO is just one of many commodity producers that have been sold down. I'm watching them all but will need to see a proper reversal and a start of the swing up before buying any. I've tried buying some on the way down but end up selling for a loss as price goes lower.
IGO is currently at a reasonable support level (~9.00) which is a double bottom with July 22.
What's stopping price from going lower, to the 4.00 level?
IGO is currently at a reasonable support level (~9.00) which is a double bottom with July 22.
What's stopping price from going lower, to the 4.00 level?
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@ $4( ish ) i would probably do a little bit to arrest the continuing slide
above $4 probably not me
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Caution, State Street and their associated shorters can now influence the price.
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MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER – IVAN VELLA
IGO Limited (ASX: IGO) (IGO or the Company) is pleased to confirm that Ivan Vella will commence as IGO’s Managing Director and Chief Executive Officer on 11 December 2023.
Following recent media reports, the Board conducted a review of the facts relating to Ivan’s departure from Rio Tinto including discussions with Ivan and confirmation of these facts with Rio Tinto.
Through this review, we understand that during his handover process not all appropriate procedure was followed in relation to confidential information under his control and Ivan has accepted accountability for this policy breach.
Based on what is known, no information was compromised as a result of his actions. IGO’s Chair, Michael Nossal, commented: “Throughout the recruitment process, the Board was highly impressed by the alignment of Ivan’s values with those of IGO, and his proven track record as a corporate leader.
Upon reviewing the full circumstances of this recent situation, the Board continues to have confidence in Ivan’s character, integrity and professionalism.
We are excited to have Ivan join us in the coming weeks and look forward to him leading IGO into its next phase of growth and transformation.” IGO’s incoming Managing Director and Chief Executive Officer, Ivan Vella, commented: “I regret the events that led to my early departure from Rio Tinto but, having been passionately dedicated to Rio Tinto for over 20 years of my life, I can confirm that there was no mal-intent.
I am now very excited to be joining the IGO team and working together to deliver the full potential of IGO’s purpose.”
This announcement is authorised for release to the ASX by the IGO Board of Directors.
i hold IGO having bought in recently
am no RIO fan , am liable to be additionally cautious in my top-up activities
IGO Limited (ASX: IGO) (IGO or the Company) is pleased to confirm that Ivan Vella will commence as IGO’s Managing Director and Chief Executive Officer on 11 December 2023.
Following recent media reports, the Board conducted a review of the facts relating to Ivan’s departure from Rio Tinto including discussions with Ivan and confirmation of these facts with Rio Tinto.
Through this review, we understand that during his handover process not all appropriate procedure was followed in relation to confidential information under his control and Ivan has accepted accountability for this policy breach.
Based on what is known, no information was compromised as a result of his actions. IGO’s Chair, Michael Nossal, commented: “Throughout the recruitment process, the Board was highly impressed by the alignment of Ivan’s values with those of IGO, and his proven track record as a corporate leader.
Upon reviewing the full circumstances of this recent situation, the Board continues to have confidence in Ivan’s character, integrity and professionalism.
We are excited to have Ivan join us in the coming weeks and look forward to him leading IGO into its next phase of growth and transformation.” IGO’s incoming Managing Director and Chief Executive Officer, Ivan Vella, commented: “I regret the events that led to my early departure from Rio Tinto but, having been passionately dedicated to Rio Tinto for over 20 years of my life, I can confirm that there was no mal-intent.
I am now very excited to be joining the IGO team and working together to deliver the full potential of IGO’s purpose.”
This announcement is authorised for release to the ASX by the IGO Board of Directors.
i hold IGO having bought in recently
am no RIO fan , am liable to be additionally cautious in my top-up activities
Sean K
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Topped up recently. Long term plan.
Not happy that exactly what this guy did at RIO has been withheld, at all. If it was serious enough to warrant an instant dismissal it was obviously a very serious misstep. They should have been more transparent on what crime he has committed.
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Info leak
"Although Mr Vella stepped down as the CEO of aluminium in June, he remained with Rio Tinto during the transition period.
An email to all employees sent by Rio Tinto CEO Jakob Stausholm, seen by The Australian Financial Review, shows an external investigation found Mr Vella “failed” to keep information secret.
“The first stage of our external investigation has concluded that Ivan failed to maintain the standards expected of him relating to this topic,” the internal email said. “The termination relates to actions that did not follow Rio Tinto’s guidance on acceptable management of confidential information.”
ASX: RIO sacks former head of aluminum division on info breach
Ivan Vella was sacked with immediate effect on Wednesday due to his “failure” to keep confidential information secret, Rio Tinto says.
Sean K
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Fingers crossed eight bucks holds. Otherwise we're looking at $6.30 ish. Yikes...
What a time to be in Ni and Li.
What a time to be in Ni and Li.
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cheers
cancelled my buy order @ $7.90 to pursue extra EDV ( but not because of your post , the market was moving away from me )
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It's a funny time for battery materials, everyone wants batteries, but everyone has run out of money. Inflation does that.
IMO just another time in history to put them in the bottom draw and pick up more when the bottom hits, it isn't as though the demand has dropped, or the underlying driver has changed, it's just that nobody wants to throw away money anymore.
My guess is China tightens up on battery supply, to outside of China, until everyone that wants them that badly they have to start and think about paying good money for them.
Meanwhile China picks up the Australian producers when their share price tanks on low demand( from China), China plays the long game, we play the smug game while we are being towelled.
It would be funny, if it didn't keep happening over and over.
Will Tianqi/ China, get to do a Kerry Packer/Allan Bond on IGO?
You never know, Albo and Penny might be able to avert a takeover of our lithium and nickel producers? Yea /Nah.
They have way too many other fires they are trying to put out, immigration, inflation, house prices, before the election.
Hopefully we introduce Mandarin as a remote learning subject for FIFO workers, my guess they will need it.
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buy more IGO , yes but would rather for $6 ( or even $5 ) than $8It's a funny time for battery materials, everyone wants batteries, but everyone has run out of money. Inflation does that.
IMO just another time in history to put them in the bottom draw and pick up more when the bottom hits, it isn't as though the demand has dropped, or the underlying driver has changed, it's just that nobody wants to throw away money anymore.
My guess is China tightens up on battery supply, to outside of China, until everyone that wants them that badly they have to start and think about paying good money for them.
Meanwhile China picks up the Australian producers when their share price tanks on low demand, China plays the long game, we play the smug game while we are being towelled.
It would be funny, if it didn't keep happening over and over.
Will Tianqi/ China, get to do a Kerry Packer/Allan Bond on IGO?
You never know, Albo and Penny might be able to avert a takeover of our lithium and nickel producers? Yea /Nah.
They have way too many other fires they are trying to put out, immigration, inflation, house prices, before the election.
i have some and am not desperate to bulk up
Sean K
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It's a funny time for battery materials, everyone wants batteries, but everyone has run out of money. Inflation does that.
IMO just another time in history to put them in the bottom draw and pick up more when the bottom hits, it isn't as though the demand has dropped, or the underlying driver has changed, it's just that nobody wants to throw away money anymore.
My guess is China tightens up on battery supply, to outside of China, until everyone that wants them that badly they have to start and think about paying good money for them.
Meanwhile China picks up the Australian producers when their share price tanks on low demand, China plays the long game, we play the smug game while we are being towelled.
It would be funny, if it didn't keep happening over and over.
Will Tianqi/ China, get to do a Kerry Packer/Allan Bond on IGO?
You never know, Albo and Penny might be able to avert a takeover of our lithium and nickel producers? Yea /Nah.
They have way too many other fires they are trying to put out, immigration, inflation, house prices, before the election.
I have too many things in the bottom draw at the moment. I fear we are seeing another wasted decade. My investment horizon has recently changed from 5 years to 15.
I will probably be dead by then, so the nephews and nieces will have to deal with the trash I have bought over the past 2 years.
I will leave IGO to the youngest.
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I definitely think the Chinese are just going to pick IGO up for nothing, the Australian Govt asleep at the wheel yet again, the problem with Canberra is we just keep selling the house to feed the poor.
The problem with that is, eventually everyone is poor.
Where has all this pre election rhetoric gone? Seems like rhetoric is cheap, as always. 12 months is a long time in politics, but the legacy of doing nothing, lasts for generations.
May 2022:
Albo finds his mojo in push for green metals and EV batteries
Albanese pitches vision of a green resources sector and revitalised manufacturing to contrast Morrison’s embrace of fossil fuels.
reneweconomy.com.au
Federal Labor leader Anthony Albanese has pitched a vision of a revived Australian manufacturing sector and a resources sector able to move past fossil fuels as he ‘officially’ launched the party’s election campaign in Perth over the weekend.
The launch on Sunday sought to position Labor as the party embracing Australia’s potential as a global supplier of ‘green’ materials used in the production of clean energy technologies, as well as boosting Australia’s own manufacturing capacity.
“Labor knows the value of resources jobs, and we are firmly focused on a bigger future for the industry. Thanks to Labor’s $1 billion Value-Adding in Resources Fund, we will capture more value from the resources sector here, and create more Australian jobs,” Albanese said.
The $1 billion fund would offer direct investments and loan guarantees in projects that process and increase the potential market value of Australia’s raw mineral resources like lithium, nickel, copper and cobalt.
“We’ll take resources like lithium and nickel – essential elements of the batteries that will power the vehicles of the future – and instead of shipping them to another country to make batteries, we’ll have what we need to make them right here,” Albanese said.
Yeh Right, JEEZ
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IGO warns of $1.3b writedown and job losses
Brad Thompson (AFR 14/12/23)
West Australian nickel and lithium producer IGO conceded it may have to write off all of the $1.3 billion it paid for the Western Areas nickel assets less than 18 months ago.
The company started shedding jobs at the troubled Cosmos nickel project yesterday, just three days into Ivan Vella’s tenure as chief executive.
The nickel and lithium producer warned investors to brace for another writedown on the value of the asset acquired through its takeover of Western Areas.
This always happens when they pay too much for assets. IGO shares looks likely to continue falling.
(not held)
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I didn't get that right. IGO +9% today. Could this be the first indication of a reversal forming (123 Low) or just a pause in the slide.
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I've been watching IGO for a while now and in the last two weeks it has approached but not quite reached my weekly target area.
There is a warrant IGOKOA that has potential for a nice hit and run but it has taken off without me and is up 40% today from its last trade.
Weekly EW chart has been a reasonably good guide on this and if it plays out going upwards its predicting a target area.
If the pattern remains intact then the upside is limited by a close no higher than beginning of W1.
The other possibility is that there may be another internal "up" wave to go before the downside W3 is complete.
(click to expand)
There is a warrant IGOKOA that has potential for a nice hit and run but it has taken off without me and is up 40% today from its last trade.
Weekly EW chart has been a reasonably good guide on this and if it plays out going upwards its predicting a target area.
If the pattern remains intact then the upside is limited by a close no higher than beginning of W1.
The other possibility is that there may be another internal "up" wave to go before the downside W3 is complete.
(click to expand)
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