some of you may be interested to see what I put up on the STT thread this morning.
STTCOMP IGO, FA LONG
Independence Group
Market Cap: $3B
Share price: $5.20
Debt:$141M
Cash: $36M
About IGO:
IGO is a diversified miner with 4 mines in Australia extracting nickel, copper, zinc, gold, silver, cobalt.
Upcoming catalysts:
Sudden rise in nickel prices (8%) & zinc prices last week enabling debt to be repaid quicker.
Increasingly positive market sentiment towards battery/EV related metals; copper, nickel….
Nova mine recently commissioned (flagship mine) so I expect good productivity last quarter. Report due Wednesday.
Short positions @ 16.77% (ref shortman), which I believe to be too high & dangerous (for shorters) considering the changing market sentiment scenario.
I believe that bigger “money” will move into the mid & larger cap ASX mining stocks searching for producers, not drillers.
M&A activity has been unduly quiet of late, and with the big miners cashed up, who knows!
Comment:
thanks all for the feedback. yes, I meant LONG.
sorry if you are only interested in ultra-spekkies, but a bit of balance can do some good in your portfolio, just like salad with your steak.
With chart below.
Cheers. GLTA
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Last
$5.22 |
Change
0.240(4.82%) |
Mkt cap ! $3.952B |
Open | High | Low | Value | Volume |
$5.00 | $5.22 | $4.99 | $32.45M | 6.294M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 4636 | $5.18 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$5.23 | 12449 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 4636 | 5.180 |
1 | 13375 | 5.170 |
5 | 57296 | 5.160 |
1 | 4640 | 5.150 |
1 | 13375 | 5.140 |
Price($) | Vol. | No. |
---|---|---|
5.230 | 12449 | 6 |
5.240 | 41881 | 1 |
5.250 | 17275 | 4 |
5.260 | 27375 | 3 |
5.270 | 13375 | 1 |
Last trade - 16.10pm 07/08/2024 (20 minute delay) ? |
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IGO (ASX) Chart |