IGO

1.05%

$5.66 igo limited

A new possible take over target for IGO , Three hundred km away...

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05/10/24

15:36

Post #: 75992325
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Originally posted by dmaivn: ↑

Guys, you have to love it. IGO broke the recent high and got its best week. The daily short interest fell down to really low at 388K yesterday and this means the shorts are peeing in the pants. For 2 weeks they piled in and sold short IGO all the way to 4.89 then IGO bounced to 5.62 and the shorts sold it down to 4.99 again before we have a big run up again. The daily short volumes were most over 1.2 million shares each day with the top at 4.5 million and then only a couple of days ago at 5.5 million shares. A lot of short shares were sold before ex-dividend so the shorts have to pay 26c dividend. I can imagine how much underwater the late short trades are by now. So, shorts are scared. The more they borrow to sell, the more exposure they get, and the chance is that instos will soak up the shares ...

It's not ever yet. There is no hurry to load up now even though it is now a lot safer than before. We migh have the bottom at 4.89 and ex-dividend low at 4.63 (very briefly before IGO shot up due to news about Chinese mine suspension).. We never know until a while from now.

If we use the low at 4.89, IGO is now 16% up. That's not saying anyting about bottom. For this stock, you need about 50% jump to confirm a bottom. The conventional 20% rally to confirm a bottom is not for IGO.

The problem I see is that we have a very good week for all miners. So, weeks from now miners will go down again and IGO will go down with teh sector. And furthermore, the shorts will be back. They won't accept the loss that they ranked in for the last 2 weeks. When teh voluem goes down and there is a lack of buyers, tehy will jump in a sell hard again. This would be the time to buy more. I would not buy at short term top. Stick to the principle of buy low sell high. Not the other way around.

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A new possible take over target for IGO , Three hundred km away from Nova , second Volcanic eye discovered by TMX .
https://www.bullsnbears.com.au/post/terrain-flies-high-in-bid-to-define-nova-style-eye-feature

https://www.bullsnbears.com.au/post/terrain-minerals-stares-into-nova-style-eye-at-lort-river

Nova Bollinger cost IGO , $1.8 billion 9 years ago , TMX current cap is $ 7 mil , a very nice inclusion for IGO whom will run out of feed in 3 years on very similar intrusive eye . Only 300 km away .

IGO Price at posting: $5.66 Sentiment: None Disclosure: Not Held
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(20min delay)
Last $5.66		Change -0.060(1.05%)		Mkt cap ! $4.286B

Open	High	Low	Value	Volume
$5.70	$5.70	$5.50	$18.23M	3.250M

Buyers (Bids)

No.	Vol.	Price($)
4	6610	$5.62

Sellers (Offers)

Price($)	Vol.	No.
$5.66	46875	3

View Market Depth

No.	Vol.	Price($)
2	2709	5.620
3	3337	5.600
1	2666	5.580
1	1000	5.570
1	2750	5.560

Price($)	Vol.	No.
5.660	40549	2
5.670	1800	1
5.680	3800	1
5.700	4000	1
5.730	2790	1

Last trade - 16.10pm 04/10/2024 (20 minute delay)

IGO (ASX) Chart

A new possible take over target for IGO , Three hundred km away...

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

BCI reaches close of funding facility for salt-first part of Mardie project

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

Cokal upgrades infrastructure for BBM ramp-up in Indonesia

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

Buxton projects new graphite province discovery at WA Narryer play

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

A new possible take over target for IGO , Three hundred km away...

Top Stories

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

BCI reaches close of funding facility for salt-first part of Mardie project

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

Cokal upgrades infrastructure for BBM ramp-up in Indonesia

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

Buxton projects new graphite province discovery at WA Narryer play

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News