Regarding the quarterly. My concern is the revaluation of receivables. It can be a big writedown if the nickel price has dropped from one quarter to the next.
In this instance, we will probably be OK, since the nickel price held firm for most of the previous quarter. The current quarter's receivables will be valued a lot lower, it seems.
Regardless of the booked profit, IGO will be swimming in cash, as usual.
I didn't see the value in hedging the forex back when we were at US74c, but now that we are at US86c it's looking like a good call.
The Matrix acquisition is looking a lot better too. They are showing a clear profit now. Still not sure why Matrix couldn't have worked something out with IGO to get into production, instead of getting into bed with Xstrata.
Regarding the quarterly. My concern is the revaluation of...
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Last
$5.64 |
Change
-0.230(3.92%) |
Mkt cap ! $4.270B | |||
| Open | High | Low | Value | Volume |
| $5.76 | $5.84 | $5.64 | $26.26M | 4.603M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 28870 | $5.64 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.65 | 27843 | 1 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| IGO (ASX) Chart |