re: Ann: Independence Group Quarterly Activit... Undaunted,
Just had a read myself, and also quite satisfied.
A pretty good performance on both the nickel and zinc fronts, each appear to be producing a surplus above ongoing capex.
Annualised profit of A50 mm not bad given Tropicana is not yet in full stride. However it would now seem reasonable to consider T fully derisked.
I liked the low expenditure on revisiting a lower capex stockman! and I liked the refreshment of exploration projects.
Well positioned for any improvement in gold, nickel or zinc prices, and somewhat to copper. Handling subdued base metal prices very well, just a pity we so badly overpaid for Jaquar, the companies biggest mistake ever(albeit at least it is now profitable again).
EL
Ann: Independence Group Quarterly Activities Repo, page-3
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