Webspyda,
Gold. Yes the recently overlooked facet of IGO.
Why shouldn't Tropicana grow and grow, they only got up to speed with their massive (freecarried) drilling exercise recently. Looking at Ashanti reports a few months ago, it looked like their standout up and coming new project. I think the ultimate size of this is going to take a lot of people by suprise.
By my estimates yesterday IGO had shrunk to the stage where cash+investments(MRX/AGO)+Tropicana was 50% of cap. That made the nickel company look very cheap imo. [I was ignoring any value in franking credits, and valuing Tropicana at $120mm].
So the nickel coy has hedging. At current forward curve a dint in future NPAT of approx A$50mm. Big deal. Even adjusting for this and on todays close gives an EV of approx A$400 mm. Less than for ALB or AGM that are not yet in production, and don't have Chris Bonwick.
In todays QR I liked the nickel production. A refreshing change to overperform to that extent two quarters running. Hope they similiarly exceed budgets throughout 07/08. Looking at the development of McLeay shoot 1 as a non-geologist I was impressed. This company simply oozes class, whatever Daredevil says.
EL
Webspyda,Gold. Yes the recently overlooked facet of IGO. Why...
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Last
$5.00 |
Change
-0.140(2.72%) |
Mkt cap ! $3.786B | |||
| Open | High | Low | Value | Volume |
| $5.10 | $5.18 | $4.94 | $19.89M | 3.963M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 102 | $5.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.01 | 4959 | 4 |
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| Last trade - 16.10pm 19/11/2024 (20 minute delay) ? |
| IGO (ASX) Chart |