They have a large exploration budget which I think would negate the need for acquisitions.
• Over 70% of overall expenditure at Nova, Fraser Range, Tropicana and Lake Mackay will be for drilling
Nova will have heaps more in the tank and they are building a nice war chest for acquiring small companies in the Fraser Range area.
Lake Mackay is exciting, though a few years off.
Looking good and I am comfortable holding.
News: IGO Independence Group Posts Q4 Profit After Tax $30.1 MLN, page-8
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