Forced, or fearful selling, momentum, lack of buyers due to nickel tag.
But EV about $70mm. What will we see today? 50?
Everyway you look at it great value.
Even if the unthinkable and pon went to say A$6/lb for the rest of FY09 [I think that would kill any thought of new projects and shutdown 20% or more of production - Vale,Xtrata,BHP,Norilsk aren't going to stand by that for long either].
IGO would be down to minimal profit on it's unhedged, but with 2400 tonnes hedged I reckon on about A$11mm NPAT contribution (have allowed for D&A). Another A$6mm NPAT from interest.
Meanwhile building exploration and resource assets for the rebound.
Gold stays strong in most worst case scenarios. Long term after this crash gold may be seen in many more portfolios.
EL
cash backing plus gold project, page-2
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Last
$5.89 |
Change
0.190(3.33%) |
Mkt cap ! $4.460B | |||
| Open | High | Low | Value | Volume |
| $5.87 | $5.95 | $5.81 | $19.96M | 3.364M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 31350 | $5.88 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.89 | 12060 | 2 |
View Market Depth
| Last trade - 16.10pm 04/07/2024 (20 minute delay) ? |
| IGO (ASX) Chart |