Is this the bottom?

Well 2 Big days in a row for IGO. It was important that IGO continued on from Thursday's upward trend. Well it didn't just do that, HUGE volume of just under 20 million shares (16 million of that was a single XT after close).

More importantly, closed at its daily high (8.88).

It's been a shit few weeks watching the share price slide over 50%, but it looks like the 7.50 mark was the bottom.

Time for some positive Ann, and hopefully continue the upward trend. The WSA takeover was unfortunately bad timing (nickel price has been hammered). In hindsight, we overpaid, but if nickel price revivers (which it will in time), then we may see the benefit of it. Good article in AFR, BHP losing millions per month in its nickel division along with Forrest and its Mincor operations which it is if $750 million for.
Indonesian pig nickel is hurting the overall nickel price. I'm not sure if Indonesian pig iron has qualified for the US critical elements scheme or parts if it, either way this hurts Australian nickel miners.
Most Indonesian pig nickel mines are funded by Chinese interests!!

There are some on this forum that think IGO is the only mining company to overpay for an acquisition. I think it was just unfortunate with timing, if nickel prices had mantained or continued their run, we would all be talking about what a great move it was. Instead l it has been a disaster, one that has received a lot of negative press, and fairly so.
BUT we move in, we write the 1.2 billion off (share prices cops a smashing, which it more then has) and we learn from our mistakes.



I feel as tho the write down (with more to come) has been well and truly factored into share price. This, along with lithium price and nickel price has allowed the shorts to take control and push the price substantially lower than where it should be.

But there in lies the danger on going short, when it turns, as we saw last couple of days, the shorts got burnt.

One has to look forward at least 12 months from now. New CEO, numerous exploitation potential, potential lithium price recovery.