News: IGO IGO Announces Qtrly Spodumene Production Of 414 KT

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    Oct 30 (Reuters) - IGO Ltd (IGO) :

    • QTRLY SPODUMENE PRODUCTION 414 KT
    • QTRLY NET PROFIT AFTER TAX A$391.5 MILLION, UP 186% QOQ
    • FY24 HAS COMMENCED STRONGLY FOR IGO
    • DECEMBER QUARTER SPODUMENE SALES FROM GREENBUSHES ARE LIKELY TO BE LOWER THAN PRODUCTION
    • QTRLY SALES REVENUE A$248.4 MILLION VERSUS A$285.2 MILLION REPORTED A YEAR AGO
    • NOTE RECENT VOLATILITY IN LITHIUM MARKET, IMPACT ON PARTICIPANTS ACROSS SUPPLY CHAIN
    • DECEMBER QUARTER SPODUMENE SALES FROM GREENBUSHES LIKELY TO BE LOWER DUE TO DEFERRAL OF SOME PRODUCT SHIPMENTS DURING CURRENT QUARTER
    • MAY BE NECESSARY TO REDUCE PRODUCTION AT GREENBUSHES DURING THE SECOND HALF OF FY24
    • QTRLY TOTAL COPPER IN CONCENTRATE PRODUCTION 2,341 TONNES
    • GREENBUSHES SHAREHOLDERS WORKING ON MECHANISMS TO MANAGE SURPLUS VOLUMES TO MINIMISE ANY IMPACT TO OPERATIONS
    • FY24 GREENBUSHES PRODUCTION GUIDANCE REMAINS UNCHANGED AT 1,400 – 1,500 KT
    • NOVA CASH COSTS ARE FORECAST TO BE HIGHER IN 2Q24
    • FY24 PRODUCTION AND COST GUIDANCE REMAINS UNCHANGED AT FORRESTANIA
    • FY24 PRODUCTION AND COST GUIDANCE REMAINS UNCHANGED AT NOVA
    • NICKEL PRODUCTION EXPECTED TO TREND LOWER NEXT QUARTER FOR FORRESTANIA
    • MAINTAINS FY24 GUIDANCE RANGE OF A$65M – A$75M FOR EXPLORATION EXPENDITURE
 
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