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IGO - IGO Limited

Discussion in 'Stocks I-P' started by seaurchin, Apr 8, 2005.

  1. rustyheela

    rustyheela

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    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



    igo.jpg
     
  2. Miner

    Miner

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    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.
     
  3. So_Cynical

    So_Cynical The Contrarian Averager

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    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.
     
  4. JJZ

    JJZ

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  5. So_Cynical

    So_Cynical The Contrarian Averager

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    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.
     
  6. oldblue

    oldblue

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

    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.
     
  7. notting

    notting

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    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

    IGO chart.JPG

    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.
     
  8. notting

    notting

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

    greggles I'll be back!

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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.
     
    Miner likes this.
  10. Miner

    Miner

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    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.
     
  11. Miner

    Miner

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    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
     
  12. kennas

    kennas Searching

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    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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  13. Miner

    Miner

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

    UMike Captain Klutz

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    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.
     
  15. The Triangle

    The Triangle

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    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.
     
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  16. sptrawler

    sptrawler

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

    greggles I'll be back!

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    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.
    screenshot-stocknessmonster.com-2020-01-08-11-04-18.png

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

    big.chart-IGO.gif
     
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  18. barney

    barney

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    That is a serious gap up on Volume for a $4 Billion dollar Company:eek:
     
    greggles likes this.
  19. greggles

    greggles I'll be back!

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    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.
     
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  20. System

    System Administrator

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