IGO Limited (ASX: IGO) has released its Q2 FY2020 activities and 1H FY2019 results. Below are the details:
Q2 FY2020 Activities:
- Nova production has surpassed pro-rata guidance range for all metals with cash costs within guidance at A$2.42 per payable pound of nickel for the Quarter.
- Tropicana gold production exceeded guidance range. The Cash Costs along with AISC of $698 and $948 per ounce respectively.
- Revenue and other income amounted to $212 million and underlying EBITDA was $117 million.
- Free cash flow for Q2 FY2020 was $135 million. Thus, net cash for the quarter was $396 million.
- Nova offtake agreements executed on materially improved terms for nickel offtake.
- Nova solar farm got successfully commissioned.
- Fifth Sustainability Report got released and the company got admitted to Dow Jones Sustainability Index.
1H FY2020 Results:
- Revenue from ordinary activities was $474.346 million, up 135% from the previous corresponding period (pcp).
- Net profit attributable to members for the period was $100.08 million, up 11,524% on pcp.