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
porkpie324
29th-October-2006, 10:51 AM
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
greggy
30th-October-2006, 05:24 PM
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.
Kauri
31st-October-2006, 12:25 PM
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.
greggy
31st-October-2006, 12:42 PM
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.
porkpie324
31st-October-2006, 12:44 PM
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
Kauri
3rd-November-2006, 03:55 PM
IGO with GP's AIM dll for AB.
greggy
3rd-November-2006, 04:06 PM
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.
porkpie324
3rd-November-2006, 04:06 PM
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
greggy
3rd-November-2006, 04:17 PM
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.
Kauri
13th-November-2006, 01:35 PM
IGO looks interesting again..
Kauri
16th-November-2006, 04:44 PM
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.
porkpie324
16th-November-2006, 05:26 PM
I'm looking at IGO again after recect weakness, kauri I like that market action you posted where do you get it, porkpie
Kauri
20th-November-2006, 07:21 PM
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....
porkpie324
19th-December-2006, 03:05 PM
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
porkpie324
12th-January-2007, 02:51 PM
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
Kauri
12th-January-2007, 03:46 PM
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.. :banghead: Hows the Get going??
porkpie324
13th-January-2007, 05:10 PM
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 ************** software seems ok now too after downloading the file it was fine. porkpie
porkpie324
18th-January-2007, 07:06 PM
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
porkpie324
19th-January-2007, 11:14 AM
Wrong again!! if I had a double headed coin I could'nt call it right this year!!.porkpie
porkpie324
22nd-January-2007, 03:40 PM
Looks like sme long awaited support comning through for IGO, perhaps I was a little tough on myselfe. porkpie
porkpie324
24th-January-2007, 03:14 PM
IGO up 7% at 3.00 pm my long pos looking good now, appears IGO is making up at last. porkpie
chops_a_must
24th-January-2007, 03:51 PM
Looks good. The MACD turned two days ago.
porkpie324
24th-January-2007, 03:58 PM
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
danc
26th-January-2007, 04:46 PM
I reckon you have called the btm spot on porkpie,
porkpie324
28th-January-2007, 08:39 AM
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
michael_selway
28th-January-2007, 11:57 AM
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
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
Kauri
28th-January-2007, 03:11 PM
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.. :D Does any one else have an opinion where IGO is at at the moment??
Sometimes I can't help being right for being wrong..
Freeballinginawetsuit
28th-January-2007, 03:37 PM
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 ( :D 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!.
Kauri
28th-January-2007, 04:03 PM
Hi Freeballinginawetsuit,
Thanks for your take on IGO, just a couple of points...
Kauri,
Without an increase in buying volumes, IGO is going nowhere ( :D 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... :D 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..
Freeballinginawetsuit
28th-January-2007, 04:26 PM
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 :D and youre posts are accurate and youre opinions valued.
Cheers
Kauri
5th-February-2007, 03:05 PM
Looks like it may have resolved which direction to take..
mmmmining
9th-February-2007, 02:21 PM
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)
Kauri
6th-May-2007, 01:29 PM
After shorting into what I thought was an ongoing correction in early March :banghead: 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.
Kauri
8th-May-2007, 12:06 PM
Have closed out original and pyramid longs as price met the typ W5 and max W3 before retreating, due for a corrective wave W4??
nedsbirdeye
3rd-June-2007, 09:13 AM
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?
Kauri
3rd-June-2007, 11:31 AM
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.....
michael_selway
3rd-June-2007, 11:58 AM
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?
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?
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)
nedsbirdeye
3rd-June-2007, 01:27 PM
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?
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!:)
Kauri
15th-June-2007, 11:10 AM
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...
porkpie324
23rd-June-2007, 08:53 AM
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
danc
2nd-August-2007, 06:28 AM
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.
danc
2nd-August-2007, 09:03 PM
Gees got that wrong Didnt eye, WERE too from here:banghead:got too a 50% point tday on low vol then the vol kicked in , and nickel chart changed my mind it looks like sht.
porkpie324
4th-December-2007, 01:06 PM
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
coolcricket
13th-December-2007, 11:29 PM
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.
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?
porkpie324
24th-December-2007, 09:21 PM
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
porkpie324
2nd-February-2008, 02:37 PM
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
porkpie324
22nd-February-2008, 12:20 PM
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
porkpie324
27th-February-2008, 01:56 PM
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
So_Cynical
27th-May-2008, 10:34 PM
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?
Tukker
27th-May-2008, 10:55 PM
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.
lucifuge
29th-August-2008, 07:08 AM
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.
kennas
29th-August-2008, 07:29 AM
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.
lucifuge
29th-August-2008, 07:34 AM
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.
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.
adobee
18th-September-2008, 09:15 AM
Anyone holding this give me a quick rundown of why NAB has bought a big chunk ?? Is this something to look at ??
Standrew
16th-December-2008, 01:00 PM
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.
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.
rico01
16th-December-2008, 01:19 PM
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
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
rustyheela
22nd-July-2009, 08:15 PM
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
