Independence Group: Live Webcast For Quarterly And Half-Yearly Report On January 31, 2019 at 11 A.M.

Independence Group: Live Webcast For Quarterly And Half-Yearly Report On January 31, 2019 at 11 A.M.

Independence Group NL (ASX: IGO) is into metal and mining with the company’s core operations including non-operator gold mining, nickel mining and zinc and by-product mining. The company has 30% joint venture interest in the Tropicana Gold Mine. The group has been working on the development of the Nova Project with nickel, copper, and cobalt mine tenements. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]

The company on 25 January 2019 has announced that it will be holding a live webcast of its combined results presentation for the December 2018 Quarter, and the First Half of the 2019 financial year starting at 11 A.M. Australian Eastern Daylight Time (AEDT) on Thursday morning, 31 January 2019.

On 20 December 2018, the company made an announcement and has confirmed that a pre-feasibility study in underground mining is technically and financially viable. The study, however, was on the development of an underground mine beneath the Boston Shaker pits at Tropicana with the pre-feasibility study based on the scheduling of underground mineral resources with robust economics.

AngloGold Ashanti Australia Ltd and IGO are the two joint venture partners who are currently engaged in a feasibility study, whose completion, coupled with any financial commitment to the Boston Shaker underground development can be expected during the second half of the financial year of 2019. The works to be done underground will be in line with the open pit design and schedule. This will capitalize on process plant improvements delivered in late November 2018 through the successful commissioning of the second ball mill. Due to the positive pre-feasibility study results, the company has committed to further drilling, as part of the feasibility study, to define ore reserves.

The pre-feasibility study has confirmed that it is technically and financially viable within a nominal PFS level of accuracy to develop an underground mine at Boston. The study confirmed that the technical feasibility and the potential viability of an underground mine delivering approximately 1Mtpa of resources to produce 100,000 ounces per annum over a period of roughly seven years based on mine scheduling of the Boston Shaker underground category of indicated and inferred mineral resource only. An estimated capital investment of A$95 million will be required for the project and the joint venture partners, IGO and AGAA, are now progressing a feasibility study.

Now let us quickly have a glance at the Independence Group NL’s stock performance and the return it has posted over the last few months. The stock last traded at a price of $4.120, with an approximate market capitalization of $2.41 billion. The stock opened at $4.130 with its day high at $4.20; however, it touched and a day’s low price of $4.090 as on 25 January 2019. The stock has yielded a YTD return of 13.50% and posted returns of -14.35%, 3.52% and 7.01% over the last six months, three months and one-month period respectively. It has a 52-week high price of $5.735 and a 52-week low of $3.560, with an average volume of 2.23 million approximately. The stock is trading at a PE multiple of 45.88x with an EPS of AUD 0.090.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Checkout our Free Dividend Stocks Report

Specially made for income-hungry investors, Invest in growing Franked Dividends an opportunity that should not be missed.


6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report