EL,I agree that IGO is keen to increase exploration on...

EL,
I agree that IGO is keen to increase exploration on Karlawinda and Stockman - but the current 5 year payback on Stockman won't make the grade - although they seem confident of improvement.
Also think they want to prioritise exploration around Jaguar such as at Daimler. They mention a few prospective areas for drilling. If they can find mineable deposits in the vicinity of the existing infrastructure that would be a bonus (I sometimes wonder if the De Beers database has indicated prospective areas near to Jaguar - and they knew this when buying Jabiru?).
Agree with your comment on Duketon - it might be up for sale.
How they allocate the $100M+ pa from Tropicana will be interesting. If my recollection is correct, they paid down the debt from purchasing the Long Nickel mine quite quickly. So, I am ok with taking on some debt.
They will have potential loan repayments plus the committment to significantly higher dividends. Then there is all the exploration funding. I don't see this as a problem, just a matter of prioritisation. As you mentioned they will have a more diverse income stream, Long is going very well and Jaguar costs are improving.

The next year will be fascinating, bedding down Tropicana, then having increased revenues to enable further exploration around Tropicana and all the other prospects that they have - all sweetened by some reasonable dividends.