Webspyda,
Gold. Yes the recently overlooked facet of IGO.
Why shouldn't Tropicana grow and grow, they only got up to speed with their massive (freecarried) drilling exercise recently. Looking at Ashanti reports a few months ago, it looked like their standout up and coming new project. I think the ultimate size of this is going to take a lot of people by suprise.
By my estimates yesterday IGO had shrunk to the stage where cash+investments(MRX/AGO)+Tropicana was 50% of cap. That made the nickel company look very cheap imo. [I was ignoring any value in franking credits, and valuing Tropicana at $120mm].
So the nickel coy has hedging. At current forward curve a dint in future NPAT of approx A$50mm. Big deal. Even adjusting for this and on todays close gives an EV of approx A$400 mm. Less than for ALB or AGM that are not yet in production, and don't have Chris Bonwick.
In todays QR I liked the nickel production. A refreshing change to overperform to that extent two quarters running. Hope they similiarly exceed budgets throughout 07/08. Looking at the development of McLeay shoot 1 as a non-geologist I was impressed. This company simply oozes class, whatever Daredevil says.
EL
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- nice profit report
nice profit report, page-6
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Last
$5.09 |
Change
-0.130(2.49%) |
Mkt cap ! $3.854B |
Open | High | Low | Value | Volume |
$5.16 | $5.17 | $5.04 | $16.90M | 3.322M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 700 | $5.06 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$5.09 | 13400 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 700 | 5.060 |
5 | 6239 | 5.050 |
2 | 41514 | 5.040 |
3 | 8113 | 5.030 |
2 | 1097 | 5.020 |
Price($) | Vol. | No. |
---|---|---|
5.090 | 13400 | 2 |
5.100 | 5293 | 6 |
5.110 | 764 | 1 |
5.120 | 44399 | 2 |
5.130 | 7052 | 1 |
Last trade - 16.10pm 08/08/2024 (20 minute delay) ? |
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