SwapI have had holdings of various sizes in IGO for a few years...

Swap

I have had holdings of various sizes in IGO for a few years now, have done very well out of them as well by buying and selling based on their swings.

Its share price is strongly linked to the Ni price and being predictable based on this has been hit hard by a major shorter twice in the last 18 months - look at the chart and you will see what I mean.

The management are good and the company is in an excellent position to increase its value again should the Ni price start going back up.

Tropicana is a bit of wild card, I don't believe the sp attributes much value to it at the current time. It is a major greenfields discovery and although relatively low grade seems of a size where it should be viable. Certainly its JV partner would not be ploughing the amount of money in that they are if there wasn't a good chance of it being a big winner for them.

IGO have to be looking very attractive as a takeover target at this level though, would hope it doesn't happen until they get back up to a reasonable value.

L