Independence Group NL’s preliminary metal production

Preliminary Metal Production: Independence Group NL’s (ASX: IGO) stock rose 3.1% on July 9, 2018 after the company in the June 2018 quarter has reported 23% rise in the Nova nickel production. This is achieved due to better than nameplate mining and processing rates and higher overall grade. However, the production for the full year is at 3% below the low end of the company’s guidance. The SAG mill liner issue has impacted the processing plant availability and productivity in the second half of June 2018, which resulted in an approximate 800t shortfall in nickel production relative to plan. The company’s SAG mill liners are being replaced currently and are not expected to be a continuing problem. The production at both Tropicana and Long are within the FY18 full year guidance range. Moreover, IGO is progressing with the prefeasibility studies for the downstream processing of Nova concentrates to produce nickel and cobalt sulphates and the Boston Shaker underground at Tropicana. Both the studies are due for completion by the end of calendar year 2018. Additionally, at Tropicana, the grade streaming is expected to continue into FY19 in conjunction with completion of a mill throughput expansion by calendar year end to 8.2Mtpa. Overall, investors have welcomed the encouraging update.


Preliminary Estimate (Source: Company Reports)


The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s