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IGO - IGO LIMITED


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A shame to hear Chris is ill.

 

He and his team did a great job building IGO up from scratch and he came across as being a good bloke. It was always a good read at 1/4ly time, plenty of exploration and energy.

 

I was impressed with how he went about mining the Long deposit in the early days. The area wasn't the most stable, so they moved away from industry standard shifts and came up with their own to suit the situation.

 

It's always refreshing to see some free thinking by operators instead of blindly following the norm.

 

I haven't followed them for a few years.

 

 

Wish him the best.

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Currently 5th on the top 100 shorted stocks list, largely due to price of nickel I suspect. https://www.shortman.com.au/stock?q=IGO

 

Gets a mention here in AFR article on battery grade nickel

 

The battery boom could deliver price premiums to nickel producers able to produce high-grade nickel products, such as ASX-listed Independence Group and Western Areas, UBS said, rather than the ferronickel and nickel pig iron producers that account for about half of global supply.

 

At present about two-thirds of total demand for nickel is for the production of stainless steel, which can tolerate lower grade nickel.

 

"Only about 50 per cent of world nickel mine production is potentially suitable to become a battery product," UBS said.

 

"These producers of high-grade nickel products could potentially benefit from the emergence of price premiums vs ferronickel and nickel pig iron products as battery demand increases."

 

 

Read more: http://www.afr.com/business/mining/electri...i#ixzz4npPZSlHd

 

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Market wasn't impressed with IGO's Quarterly report last week

 

The main cause for concern was a fall in the mineral resource estimate for its Nova-Bollinger deposits, which was down to 11.4mt containing 271,000 tonnes of nickel and 113,000 tonnes of copper from the previous 14.3mt containing 314,000t of nickel and 128,000 tonnes copper.

https://thewest.com.au/business/mining/inve...t-ng-b88548647z

 

Still a large number of shares shorted - IGO currently sits #5 on top100 -

 

Fri 28th Jul, 2017 2,882,113 586,747,023 0.49% 4,625,100 62.31%

Thu 27th Jul, 2017 3,765,399 586,747,023 0.64% 5,400,596 69.72%

Wed 26th Jul, 2017 4,187,887 586,747,023 0.71% 9,826,624 42.62%

 

https://www.shortman.com.au/top

 

SP showing bit of green today but might be too soon for a rebound?

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  • 3 weeks later...
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SP up another 4.45% today - @ $3.875

Still high on Shortman's Top 100 - currently sitting @ #5

 

1 SYR SYRAH RESOURCES ORDINARY 20.02% 0.97

2 ORE OROCOBRE LIMITED ORDINARY 18.55% 0.36

3 WSA WESTERN AREAS LTD ORDINARY 17.10% 1.01

4 MYR MYER HOLDINGS LTD ORDINARY 15.53% 0.32

5 IGO INDEPENDENCE GROUP ORDINARY 14.97% 0.06

https://www.shortman.com.au/stock?q=IGO

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