Tag: IGO
IGOing Along Very Nicely
IGO finished the year to June with a wet sail – higher revenue and earnings, the Western Areas takeover completed and good news from its new refinery south of Perth.
Read MoreBourse Discourse: IGO, WES, NCZ
On the ASX docket Thursday: IGO’s WSA takeover reaches its conclusion; a fairly nondescript investor presentation from Wesfarmers; and an old copper mine gets another life.
Read MoreIGO – UBS rates the stock as Buy
Upgrade to Buy from Neutral given the recent share-price retreat. Target price dips to $12.15 from $12.40.
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IGO Blinks, Raises WSA Bid Price
Sense seems to have prevailed in the end after plenty of chest puffing, with IGO Ltd relenting and upping its offer price for nickel miner Western Areas from $3.36 to $3.87 per share.
Read MoreBall in IGO’s Court as Western Areas Halt Extended
An extension to the trading halt in Western Areas shares will give suitor IGO Ltd some time to figure out the next move, if any, in its $1.1 billion all cash takeover offer.
Read MoreDay of Reckoning for IGO on Western Areas Bid
A big test for IGO today as it learns if its $1.1 billion takeover offer for nickel rival Western Areas – which resumes trading this morning after a two-day halt – has any future whatsoever.
Read MoreCorporate Chatter: DGO / GOR, WSA / IGO
Plenty of corporate activity in the local mining sector, with developments today on the proposed takeovers of DGO Gold by Gold Road Resources and Western Areas by IGO Ltd.
Read MoreIGO Standing Pat on Western Areas Bid
IGO says the surge in nickel prices and subsequent confusion after trading was stopped a week ago will not force his company to lift its offer price of $3.36 for rival miner Western Areas.
Read MoreBroken Hill Roars Back to Life
After years in the doldrums, exploration activity has stepped up in the most famous of all Australian mining areas, with some interesting discoveries revealed or hinted at. Broken Hill is back!
Read MoreDigging into the Mining Scene
The December quarter bought the usual flood of updates from miners on their exploration, development and production operations – here are a few of the key highlights.
Read MoreIGO – Credit Suisse rates the stock as Outperform
The Outperform rating is retained and the target price decreases to $15.30 from $16.30.
Read MoreIGO Consummates Western Areas Deal
IGO will pay $1.1 billion in cash for nickel miner Western Areas at $A3.36 per share, thereby confirming one of the worst kept secrets in the mining industry this year.
Read MoreIGO Confirms Talks, Mincor Strikes Nickel
IGO has confirmed media reports that takeover talks with nickel miner Western Areas are moving closer towards a decision, while Mincor has struck nickel at its Hartley prospect in Western Australia.
Read MoreLithium Deals Show Aussie-China Ties Not Totally Cut
Despite China having spent the past year or more monstering Australia and Australian companies, the ties between both countries continue, especially in the strategically important areas of lithium mining and processing.
Read MoreHectic Year for IGO Looks to Have Been Worth It
IGO Limited has more than tripled post-tax profit thanks to the sale of its 30% stake in the Tropicana gold mine to Regis Resources, just one deal in an eventful year for the company.
Read MoreThree Nuggets from the Mining Sector
Contrasting fortunes this week for three of the country’s mid-range miners who released quarterly reports – IGO in nickel, as well as gold producers St Barbara and Gold Road.
Read MoreIGO Spikes on Lithium Project News
Shares in mining company IGO jumped nearly 10% at one stage yesterday after it told the market that its $2 billion plunge into lithium was nearing completion.
Read MoreIGO – Macquarie rates the stock as Outperform
Macquarie prefers Nickel Mines, IGO Ltd and Western Areas for nickel production. The Lighten rating and $8.50 target are retained.
Read MoreIGO – Credit Suisse rates the stock as Neutral
Neutral maintained. Target rises to $6.90 from $6.40.
Read MoreIGO Quarterly Saved by Currency Windfall
Shares in explorer and miner IGO hit a two-month high on Wednesday after a weak underlying quarterly update that was rescued by a huge windfall in currency gains.
Read MoreIGO – Macquarie rates the stock as Outperform
Macquarie resumes coverage with an Outperform rating and $8 target.
Read MoreIGO – UBS rates the stock as Buy
UBS thinks IGO has made a “shrewd” acquisition of an interest in Tianqi’s lithium assets. Buy retained. Target rises to $8 from $7.50.
Read MoreIGO – Credit Suisse rates the stock as Downgrade to Neutral
IGO’s first half beat expectations in terms of operating income with earnings from the Nova project forming 70% of the total earnings. Rating is downgraded to Neutral from Outperform with the target rising to $6.40 from $6.
Read MoreIGO – UBS rates the stock as Buy
Nova nickel production in the June quarter was -8% below UBS estimates. Copper and cobalt were better-than-expected.
Read MoreMaterial Matters: Indonesia, Australia & Zinc
A glance through the latest expert views and predictions about commodities. Indonesia; Australia; and zinc.
Read MoreMaterial Matters: Copper, Lithium & Closures
A glance through the latest expert views and predictions about commodities. Base metals; cost curves; lithium; and mine closures.
Read MoreIGO Dependent On Exploration Success
The medium-term production outlook for nickel and gold producer IGO Ltd remains heavily dependent on exploration success.
Read MorePanoramic Goes On The Attack Knocking Back “Opportunistic” Independence Bid
Now there’s one way of seeing off an unwanted takeover offer – do what the putative bidder doesn’t want to do, such as announce a capital raising when the bidder, Independence Group made such a move a condition of the offer failing.
Read MoreIndependence Group Muscles In On Panoramic Resources
Panoramic Resources shares jumped more than 34% at one stage yesterday after it revealed a $312 million all paper takeover offer from Independence Group.
Read MoreIGO – Credit Suisse rates the stock as Underperform
Credit Suisse upgrades FY20 and FY21 estimates for earnings per share by 20% and 10%, respectively, on the implementation of higher nickel pricing.
Read MoreNickel Takes The Limelight, But Will It Last?
Nickel prices have surged recently but as some brokers assess, fundamentals do not appear to be supporting the rally. Hence, a retracement is considered highly likely.
Read MoreIGO – Credit Suisse rates the stock as Neutral
The pre-feasibility study on the nickel sulphate option has been extended to the December quarter in order to “optimise the study”. Credit Suisse suspects the company is likely buying time for nickel sulphide concentrate offtake agreements to be negotiated and replace expiring contracts.
Read MoreIGO – Macquarie rates the stock as Underperform
Independence Group and AngloGold Ashanti will proceed with the development of the Boston Shaker underground project at Tropicana, despite the feasibility study falling short of forecasts.
Read MoreNova Nickel Lifts Independence Group To Record Result
Nickel, copper and cobalt had a golden tinge for Perth-based Independence Group yesterday which reported record revenues and profits from the first full-year of operation at its Nova mine in WA and improved operating performance at its Tropicana joint venture.
Read MoreSatellite Photo Shows Independence’s Real Deal With Creasy Is Still In The Making
Independence Group’s (IGO) recasting of itself as a battery materials specialist following the recent sale of its second-rate zinc/copper assets for $120 million requires the establishment of a supporting multi-decade nickel, copper and cobalt resource base.
Read MoreCreasy Seals New JV Agreement Near Nova Mine
There’s nothing like success to breed success and WA prospector Mark Creasy is a perfect example of that.
Read MoreIndependence Circling Creasy’s Fraser Range Discovery
Our most successful “prospector”, Mark Creasy, has just notched up 50 years in the game and he is in a reflective mood.
Read MoreIndependence Chases $250m In New Placement
Nickel and gold miner, Independence Group (IGO) yesterday kicked off a $250 million raising from institutional investors to strengthen its balance sheet and provide another $150 million for its Nova project in WA.
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