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.
Most liked posts in thread: IGO - IGO Limited
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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.
- sptrawler likes this.
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.
Outlook improving for IGO. Could see more gains here if their focus on delivering cost improvements and operational efficiencies proves successful.
barney likes this.
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
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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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
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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