New all time high, page-137

So the market probably is aware that should things work out for IGO, i.e no more cost blowouts, no more write downs, stable to improving FX, stable
to improving underlying commodity prices and improving sales then IGO is probably worth north of $18/share and maybe even more.. try to play in the options market if IGO at the moment, it’s hard work… that usually means something because the big guys at the big banks have very clear views of companies balance sheets etc and their traders are very well educated as to how the market works as they are the ones moving the market.

If IGO has a cracker of a report then there will be plenty of buying as well as the ability to execute options trades for a better price etc. Personally I think IGO will move past $14 in the next couple of weeks and maybe sooner if it’s a good report. Problem is that mining often disappoints on reporting day so it’s also safe to have a few Puts in play. That Morgan Stanley report goes out to FY 45 in mine life etc, very detailed and too big to put on here.