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IGO - IGO LIMITED


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Hi Slick

Anything is possible, but enough is enough for me. It's a nickel producer, not gold, & as such, should be treated so imo.

A few other quality ni stocks are doing ok but they are all nearing strong resis. Most have lagged the market, prob because nickel is looking poor while other metals are rising.

Don't see any reason to think this one will outperform in a wobbly market.

Cheers

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The action perhaps related to this

 

http://www.proactiveinvestors.com.au/compa...spect-3606.html

 

Shares in South Boulder Mines (ASX: STB) have jumped 10% after the company released the latest assay results from a RC hole recently completed by Independence Group (ASX: IGO) at the Rosie Nickel Sulphide Prospect within the Duketon Joint Venture Project in Western Australia.

 

and

 

In early 2004, South Boulder entered a farm-out Joint Venture (JV) Agreement with Independence, whereby Independence can earn a 70% interest in the nickel rights on tenements held by South Boulder in the Duketon Project, by the completion of a Bankable Feasibility Study within 5 years of the grant of the relevant tenement.

 

 

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JM

More than likely it is related to the gold selloff Fri night. Some of the other ni stocks are only looking better in comparison because they have been already falling for the last couple weeks with the price of nickel.

This one was just lagging the move & the ones that are going sideways might follow shortly.

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