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IGO, INDEPENDENCE GROUP NL
blacksheep
post Posted: Aug 6 2019, 09:49 AM
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IGO gets a mention

There’s one metal worrying Tesla and EV battery suppliers
Bloomberg News | August 5, 2019 |
QUOTE
Battery producers and electric automakers, including Tesla Inc., are concerned over longer-term supplies of nickel, a key material in their supply chain that’s forecast to fall into deficit, according to an Australian miner that’s held recent talks with the sector.

The need for the high-purity material used in batteries, known as class-one nickel, is likely to outstrip supply within five years, fueled mainly by rising consumption in the EV industry, according to BloombergNEF.

It’s a concern shared by Tesla, according to Peter Bradford, chief executive officer of nickel producer Independence Group NL, who last week met with a member of the car producer’s battery metals supply chain team.


QUOTE
“The dramatic price rise we’ve seen will pale into insignificance compared to the future,’’ Bradford said in the Friday phone interview.

Japan’s Sumitomo Metal Mining Co., said in June the nickel market faces a deficit of 51,000 tons in 2019, raising an earlier forecast. Last month, First Quantum Minerals Ltd. confirmed it’ll reopen the Ravensthorpe mine in Western Australia –- shuttered since 2017 — in the first quarter of 2020 amid the strength of interest from potential nickel and cobalt customers.

Western Areas Ltd. recently visited China’s Contemporary Amperex Technology Co. Ltd., a leading battery maker, and is winning interest from the EV sector for nickel supply contracts, the Perth-based producer said Monday in a presentation. Contracts with BHP Group and Tsingshan Holding Group Co. are scheduled to expire in January.

Meetings with companies in the EV supply chain in China and South Korea in the past month, including battery suppliers and producers of key raw materials and chemicals, had also underscored the industry’s concerns about supply, Bradford said.

“The big question everyone will be asking in a year’s time is where does the nickel come from to satisfy the demands for nickel in stainless steel, as well as the increasing demand for nickel into electric vehicle batteries?’’ he said.


read more - https://www.mining.com/web/theres-one-metal...tery-suppliers/



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
mullokintyre
post Posted: Jul 19 2019, 12:17 PM
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In Reply To: mullokintyre's post @ Apr 30 2019, 10:06 AM

IGO hit a 52 week high today. Nickel Demand driving it.
Looking for a bit of breather soon.

Mick



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sent from my Olivetti Typewriter.
 
mullokintyre
post Posted: Apr 30 2019, 10:06 AM
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Excellent 3rd quarter results. Big increase in free cash flow, made some profits, hopefully see some big jumps in Share price.

Mick



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sent from my Olivetti Typewriter.
 
oracle
post Posted: Apr 2 2019, 10:23 AM
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In Reply To: mullokintyre's post @ Apr 2 2019, 10:14 AM

Yeah me too! I'm just wary of the time and experience required for scaleup.No question success would lead to a step change in earnings.All the best




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oracle
 
mullokintyre
post Posted: Apr 2 2019, 10:14 AM
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In Reply To: oracle's post @ Apr 2 2019, 09:55 AM

Yeah, I am a sucker for science.
i also hold.
Mick



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sent from my Olivetti Typewriter.
 
oracle
post Posted: Apr 2 2019, 09:55 AM
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In Reply To: mullokintyre's post @ Apr 2 2019, 09:17 AM

Still a science experiment Mick (albeit a promising one)I hold




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oracle

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mullokintyre
post Posted: Apr 2 2019, 09:17 AM
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In Reply To: blacksheep's post @ Aug 6 2018, 12:23 PM

IGO released the reporton trials for nickel sulphate conversion.
Looks a bit more than promising.
Thought the market might have been up a bit more , but perhaps it was already factored into price.
Mick



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sent from my Olivetti Typewriter.
 
blacksheep
post Posted: Oct 11 2018, 09:54 PM
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Might be worth looking at other operators in the vicinity? Some mentioned below

RNC Minerals recovers giant gold slab from its mine in Australia
Cecilia Jamasmie | a day ago |
Mincor and Gold Fields aren’t
QUOTE
Canada’s RNC Minerals (TSX: RNX), the company that last month unearthed more than 9,000 ounces of high-grade gold from a single blast at its Australian Beta Hunt mine, has recovered the first specimen.

http://www.mining.com/rnc-minerals-recover...mine-australia/


Other companies in the area
QUOTE
Mincor and Gold Fields aren’t the only companies with assets in the region, with Independence Group’s (ASX: IGO) Long operation placed on care and maintenance during the June quarter after final ore reserves were mined.

Long has been mined since the 1970s, with Western Mining Corporation operating the asset until 1999. Independence Group secured the mine in 2002 and extracted around 137,000t of nickel during its 16 years of ownership.

Although on care and maintenance, Independence Group has committed funding to exploration in the area, which could breathe new life into the asset.

Meanwhile, Panoramic Resources (ASX: PAN) owns the nearby Lanfranchi nickel mine that has been on care and maintenance since 2015.

Panoramic managing director Peter Harold told Small Caps RNC’s gold haul was a “fantastic discovery”.

“I hope RNC finds a lot more and it sparks renewed gold exploration activity around Kambalda – it would be good for the town.”

Similar to Mr Muccilli, Mr Harold said it was not uncommon to find gold in Kambalda. He added that gold has been identified at Lanfranchi in the past, but the rights belonged to Gold Fields.

“It will certainly lead to more interest in Kambalda,” Mr Harold noted.

Traditionally, the region has been primarily exploited for nickel. It remains to be seen if other nickel plays will begin actively exploring for that “spectacular” “once in a lifetime” bonanza gold find that could see them pulling out $16 million-worth of gold out of the ground in just four days like RNC at Beta Hunt.

https://smallcaps.com.au/rnc-minerals-spect...light-kambalda/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 6 2018, 12:23 PM
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In Reply To: blacksheep's post @ Jul 31 2018, 12:40 PM

Article in AFR - Independence Group readies for charge into nickel processing
QUOTE
Independence has been buoyed by better than expected results in trials converting nickel concentrate from its flagship Nova mine in Western Australia's Fraser Range to nickel sulphate.


QUOTE
the conversion process developed in-house had produced close to battery-grade results and was so promising that Independence had applied for a patent.

read more - https://www.afr.com/business/independence-g...20180804-h13ke3
https://www.shortman.com.au/stock?q=igo
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 31 2018, 12:40 PM
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Posts: 6,791
Thanks: 2307


In Reply To: blacksheep's post @ Jul 27 2018, 12:00 PM

IGO hopes for next big Fraser Range win
Josh ChiatThe West Australian
Tuesday, 31 July 2018 8:53AM
QUOTE
Independence Group has reiterated its commitment to finding a new Nova on the Fraser Range, as speculation continues to circle that major shareholder Mark Creasy has made a potential discovery there.

Speaking to analysts on the company’s quarterly investor call yesterday, Independence Group managing director Peter Bradford said IGO was continuing its plan to spend big on drilling, with $51 million committed to exploration in 2018-19.

The diversified miner committed about $50 million to exploration in 2017-18, the bulk at Nova.

At least two-thirds of IGO’s budget is expected to be spent around Nova and the Fraser Range, where about 20,000m of diamond drilling is set to start this year.

Mr Bradford also said the company was continuing studies on refining its product into nickel sulphate for battery-making customers at Nova, which he said could garner a premium of $4000-5000 a tonne on the prevailing nickel metal price.

Mr Bradford said a pre-feasibility study was ongoing, but that IGO could reach a decision on downstream processing at Nova during the 2019 calendar year, setting the company up to produce nickel sulphate in 2020.

“These are all aspirational targets at this stage,” he said.

IGO generated $339 million in underlying earnings and $53 million in net profit for 2017-18 according to unaudited figures in its June quarter results, finishing the reporting year with $139 million in cash and net debt of $4.2 million.

It expects to produce 27,000-30,000t of nickel and 11,000-12,500t of copper at Nova in 2018-19, up from 22,258t and 9545t, respectively, last financial year.

Tropicana, in which IGO holds a 30 per cent share, produced 467,139oz at $1061/oz, with production expected to ramp up to between 500,000-550,000oz this financial year. IGO sold the Jaguar zinc-copper mine near Leonora and closed the Long nickel mine in Kambalda during the June quarter.

IGO shares fell 32¢, or 6.7 per cent, to $4.47 yesterday.

https://thewest.com.au/business/mining/igo-...n-ng-b88912423z
SP currently down slightly @ $4.465
https://www.shortman.com.au/stock?q=igo


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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


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