Anuncio • Apr 17
IGO Limited to Report Q3, 2026 Results on Apr 24, 2026 IGO Limited announced that they will report Q3, 2026 results on Apr 24, 2026 Anuncio • Mar 03
Medallion Metals Limited (ASX:MM8) acquired Forrestania Nickel Operation from IGO Limited (ASX:IGO). Medallion Metals Limited (ASX:MM8) entered into a binding Asset Sale Agreement to acquire Forrestania Nickel Operation from IGO Limited (ASX:IGO) on August 4, 2025. As consideration for the purchase of Forrestania Nickel Operation, Medallion Metals Limited will grant to IGO Limited a 1.5% Net Smelter Return Royalty on any gold produced. If the agreement is terminated before completion for reasons other than IGO Limited's default, Medallion Metals Limited must pay IGO Limited a Break Fee that accrues over time, calculated as 50% of Direct Project Costs for the first four months after the Agreement's execution and 100% thereafter until termination
The transaction is subject to approval by regulatory board / committee, approval of offer by acquirer board, obtaining financing and third party approval needed. The expected completion of the transaction is late 2025. As per the announcement dated December 10, 2025 the transaction is expected to close on February 20, 2025. Medallion Metals is pleased to announce it has selected Trafigura Pte Ltd (“Trafigura”) to exclusively arrange and provide a prepayment facility and copper concentrate and gold dore purchase agreements for the proposed development of the Ravensthorpe Gold Project (“RGP”) and processing operations at Forrestania. Subject to the satisfaction of relevant conditions precedent including technical, financial and legal due diligence and relevant approvals, the proposed Facility is for up to AUD 77 million with a four-year term commencing from initial disbursement, including a one-year grace period followed by a three-year repayment period. Development activities will commence following confirmation that all conditions precedent to the completion of the Forrestania acquisition1 (Transaction) have been waived or satisfied, at which time the Transaction will proceed to completion. Confirmation that the Transaction conditions precedent have been satisfied or waived is expected on or before February 20, 2026, with completion expected to occur on or before February 27, 2026. As of February 27, 2026 all conditions precedent to the acquisition of the Forrestania Nickel Operation from IGO Limited pursuant to the conditional binding Asset Sale Agreement have been satisfied or waived. The Transaction will now progress to completion with handover targeted to occur today at 5pm Friday 27 February 2026.
Medallion Metals Limited (ASX:MM8) completed the acquisition of Forrestania Nickel Operation from IGO Limited (ASX:IGO) on March 2, 2026. Anuncio • Feb 11
IGO Limited to Report First Half, 2026 Results on Feb 19, 2026 IGO Limited announced that they will report first half, 2026 results on Feb 19, 2026 Anuncio • Feb 06
Rumble Resources Limited (ASX:RTR) completed the acquisition of remaining 70% stake in E28/2528, E28/2595, and E28/2529 from IGO Limited (ASX:IGO). Rumble Resources Limited (ASX:RTR) agreed to acquire remaining 70% stake in E28/2528, E28/2595, and E28/2529 from IGO Limited (ASX:IGO) for AUD 0.3 million on April 7, 2025. The consideration consists of common equity of Rumble Resources Limited having a value of AUD 0.3 million to be issued for assets of E28/2528, E28/2595, and E28/2529. Upon completion, Rumble Resources Limited will own 100% stake in E28/2528, E28/2595, and E28/2529.
Rumble Resources Limited (ASX:RTR) completed the acquisition of remaining 70% stake in E28/2528, E28/2595, and E28/2529 from IGO Limited (ASX:IGO) on February 6, 2026. Anuncio • Dec 22
IGO Limited to Report Q2, 2026 Results on Jan 29, 2026 IGO Limited announced that they will report Q2, 2026 results on Jan 29, 2026 Anuncio • Dec 03
IGO Limited Announces CFO Changes, Effective 1 April 2026 IGO Limited announced that it appointed Johan van Vuuren as Chief Financial Officer of the Company, effective April 1, 2026. van Vuuren replaces Ms Kathleen Bozanic as Chief Financial Officer and will report to Ivan Vella, Managing Director and Chief Executive Officer. Most recently, van Vuuren held the role of Senior Vice President Corporate Development for Maaden in Saudi Arabia and served on the Board of Meridian and the Executive Committee of Manara Minerals. In addition to his extensive experience in mining, van Vuuren has worked in a range of other industries including energy, petrochemicals, manufacturing, aviation, renewable energy and waste management. van Vuuren will commence with the Company on April 1, 2026, following the end of his tenure with Maaden. Bozanic has agreed to extend her tenure with the Company to ensure an orderly handover can occur. Anuncio • Oct 28
IGO Limited to Report Q1, 2026 Results on Oct 30, 2025 IGO Limited announced that they will report Q1, 2026 results Pre-Market on Oct 30, 2025 Anuncio • Sep 09
IGO Limited, Annual General Meeting, Nov 19, 2025 IGO Limited, Annual General Meeting, Nov 19, 2025. Reported Earnings • Aug 28
Full year 2025 earnings released: AU$1.26 loss per share (vs AU$0.004 profit in FY 2024) Full year 2025 results: AU$1.26 loss per share (down from AU$0.004 profit in FY 2024). Revenue: AU$528.9m (down 37% from FY 2024). Net loss: AU$954.6m (down AU$957.4m from profit in FY 2024). Revenue is expected to decline by 90% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to grow by 5.4%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Board Change • Aug 18
High number of new directors Independent Non-Executive Director Marcelo de Almeida Bastos was the last director to join the board, commencing their role in 2024. Anuncio • Jun 26
IGO Limited Announces Appointment of Suzanne (Suzy) Retallack as Chief People and Sustainability Officer, Effective 15 September 2025 IGO Limited announced appointment of Suzanne (Suzy) Retallack as Chief People and Sustainability Officer, effective 15 September 2025. Suzy was most recently Chief Safety & Sustainability Officer for Newmont Corporation, where she was also responsible for Corporate Affairs for Newmont Australia. Suzy has global experience in mining, working across a range of functions including Health and Wellbeing, Safety, Environment, Security, Sustainability at Newmont and Rio Tinto. Suzy holds a Bachelor of Science in Psychology from the University of Western Australia, a Bachelor of Science in Occupational Therapy and a Master of Business Administration from Curtin University. Board Change • Feb 04
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Marcelo de Almeida Bastos was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Anuncio • Jan 01
IGO Limited to Report Fiscal Year 2025 Results on Aug 28, 2025 IGO Limited announced that they will report fiscal year 2025 results on Aug 28, 2025 Board Change • Dec 24
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Marcelo de Almeida Bastos was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Anuncio • Nov 29
Medallion Metals Limited (ASX:MM8) acquired certain assets of the Forrestania Nickel Operation by IGO Limited from IGO Limited (ASX:IGO) for AUD 15 million. Medallion Metals Limited (ASX:MM8) signed a letter of intent to acquire certain assets of the Forrestania Nickel Operation by IGO Limited from IGO Limited (ASX:IGO) for AUD 15 million on August 8, 2024. A cash consideration of AUD 15 million will be paid by Medallion Metals Limited. As part of consideration, AUD 15 million is paid towards assets of certain assets of the Forrestania Nickel Operation by IGO Limited.
The transaction is subject to consummation of due diligence investigation.
Medallion Metals Limited (ASX:MM8) completed the acquisition of certain assets of the Forrestania Nickel Operation by IGO Limited from IGO Limited (ASX:IGO) on November 28, 2024. Declared Dividend • Aug 31
Final dividend of AU$0.26 announced Shareholders will receive a dividend of AU$0.26. Ex-date: 11th September 2024 Payment date: 26th September 2024 Dividend yield will be 6.7%, which is higher than the industry average of 5.1%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 100x earnings). However, it is well covered by cash flows (42% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 11,020% to bring the payout ratio under control. EPS is expected to grow by 158% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Aug 29
Full year 2024 earnings released: EPS: AU$0.004 (vs AU$0.72 in FY 2023) Full year 2024 results: EPS: AU$0.004 (down from AU$0.72 in FY 2023). Revenue: AU$860.2m (down 16% from FY 2023). Net income: AU$2.80m (down 100% from FY 2023). Profit margin: 0.3% (down from 54% in FY 2023). Revenue is expected to decline by 38% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to grow by 1.7%. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Anuncio • Aug 29
IGO Limited Announces Resignation of Kathryn Barker as Joint Company Secretary IGO Limited announced that Ms. Kathryn (Kate) Barker has resigned as Joint Company Secretary, effective 30 August 2024. Anuncio • Aug 13
Albemarle Reportedly May Look to Offload 49% Stake in Greenbushes Lithium Mine to IGO Speculation is mounting that US-based Albemarle Corporation (NYSE:ALB) may be considering selling down its 49% stake in the Greenbushes lithium mine to its Australian-listed partner IGO Limited (ASX:IGO), after the world's largest lithium producer this month slashed jobs and shut part of a processing facility in Western Australia. Greenbushes in WA is a global standout, and there is scepticism about the market chatter, although IGO wants to buy more of the asset should it be available, say sources. IGO did not comment. One reason a sale may be on the table is that Greenbushes does not qualify for the Inflation Reduction Act benefits in the US because of its partial Chinese ownership of 25.1%. To quality, Chinese ownership would need to be 24.9% or less, although the US government may show some leniency. IGO and China's Tianqi both own 51% in a joint venture arrangement. US-based lithium specialist Albemarle owns the remainder. The Australian reported last month that Albemarle, Tianqi and IGO would be taking the brakes off the giant Greenbushes mine despite low lithium prices, with the mine set to lift production over the next year as IGO intensifies its hunt for growth opportunities. Board Change • Aug 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Marcelo de Almeida Bastos was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Anuncio • Jul 12
IGO Limited Announces Company Secretary Changes IGO Limited announced the appointment of Ms. Rebecca Gordon as Company Secretary of the Company. Ms. Gordon is an experienced Company Secretary and lawyer, with expertise and skills in legal matters and advice, compliance and corporate governance functions in Australian and international companies. Ms. Gordon also holds a Bachelor of Laws, Bachelor of Commerce and Master of Business Administration and is a graduate of the Australian Institute of Company Directors. Ms. Gordon replaces Ms. Joanne McDonald as Company Secretary. Ms. McDonald has been with IGO for more than eight years and the Board sincerely thanks her for her significant contribution to the Company's growth and wishes her well in her future endeavours. IGO's Chief Legal Officer, Ms. Kate Barker, will continue as Joint Company Secretary. Anuncio • Jul 04
IGO Limited Appoints Marcelo Bastos as Independent Non-Executive Director Anglo American plc announced that Marcelo Bastos, an independent Non-Executive Director of the Company, was appointed as an independent non-executive director of IGO Limited on 1 July 2024. Anuncio • Apr 21
IGO Limited, Annual General Meeting, Nov 06, 2024 IGO Limited, Annual General Meeting, Nov 06, 2024. Upcoming Dividend • Mar 05
Upcoming dividend of AU$0.11 per share Eligible shareholders must have bought the stock before 12 March 2024. Payment date: 27 March 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 11%. Within top quartile of Australian dividend payers (6.4%). Higher than average of industry peers (5.5%). Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to AU$8.13, the stock trades at a forward P/E ratio of 18x. Average trailing P/E is 12x in the Metals and Mining industry in Australia. Total returns to shareholders of 23% over the past three years. Recent Insider Transactions • Feb 28
CEO, MD & Director recently bought AU$302k worth of stock On the 23rd of February, Ivan Vella bought around 42k shares on-market at roughly AU$7.27 per share. This transaction increased Ivan's direct individual holding by 3x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Ivan's only on-market trade for the last 12 months. Reported Earnings • Feb 24
First half 2024 earnings released: EPS: AU$0.38 (vs AU$0.81 in 1H 2023) First half 2024 results: EPS: AU$0.38 (down from AU$0.81 in 1H 2023). Revenue: AU$438.2m (down 19% from 1H 2023). Net income: AU$288.3m (down 53% from 1H 2023). Profit margin: 66% (down from 113% in 1H 2023). Revenue is forecast to decline by 29% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Anuncio • Feb 01
South32 Limited Commences Proceedings Against IGO Ltd in the Supreme Court of Western Australia Regis Resources Ltd. (Regis) notes IGO's announcement (IGO Announcement) advising that South32 Limited (South32) has commenced proceedings against IGO Ltd. (IGO) in the Supreme Court of Western Australia (Supreme Court Proceedings). In substance, South32 is seeking a court declaration in relation to the interpretation of the Agreement for the Sale of Assets and Mining Tenements dated 1 August 1997 (as subsequently amended, assigned or novated) (the Royalty Agreement). Regis understands that South32 alleges that properly interpreted, it is owed royalty payments under the Royalty Agreement at the rate of 1.5% of gross revenue from 100% of production from the Tropicana Gold Project, and is also seeking interest and costs. IGO, being the current counterparty to the Royalty Agreement, has announced that it disputes the allegations and intends to strongly defend the claim. Regis is not a party to the Royalty Agreement or the Supreme Court Proceedings. However, Regis is interested in the outcome of the Supreme Court Proceedings because there is overlap in the area over which South32 is claiming a royalty is payable, and the Tropicana Gold Project. Under the Asset Sale Agreement for the 30% interest in the Tropicana Gold Project between Regis and IGO, Regis assumed liability for the royalty to the extent it may apply to any of the Tropicana Gold Project after its acquisition (Transferred Royalty). Also, under the Asset Sale Agreement Regis agreed to indemnify IGO for liability arising in relation to the Transferred Royalty on the terms of the Asset Sale Agreement. Regis' view at the time of the acquisition was, and remains, that no amount is due under the Royalty Agreement in respect of current operations at the Tropicana Gold Project, and Regis intends to take appropriate action to protect its position. Anuncio • Jan 25
IGO Limited to Report First Half, 2024 Results on Feb 22, 2024 IGO Limited announced that they will report first half, 2024 results on Feb 22, 2024 Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to AU$8.89, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Metals and Mining industry in Australia. Total returns to shareholders of 56% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at AU$11.57 per share. Buying Opportunity • Sep 13
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be AU$17.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has grown by 74%. For the next 3 years, revenue is forecast to decline by 8.3% per annum. Earnings is forecast to grow by 5.6% per annum over the same time period. Upcoming Dividend • Sep 06
Upcoming dividend of AU$0.60 per share at 6.0% yield Eligible shareholders must have bought the stock before 13 September 2023. Payment date: 28 September 2023. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 6.0%. Lower than top quartile of Australian dividend payers (7.0%). In line with average of industry peers (5.6%). Upcoming Dividend • Sep 06
Upcoming dividend of AU$0.60 per share at 6.0% yield Eligible shareholders must have bought the stock before 13 September 2023. Payment date: 28 September 2023. Payout ratio is on the higher end at 80%, however this is supported by cash flows. Trailing yield: 6.0%. Lower than top quartile of Australian dividend payers (7.0%). In line with average of industry peers (5.6%). Anuncio • Sep 01
IGO Limited Declarers Special Dividend for the Year Ended June 30, 2023, Payable on September 28, 2023 On 30 August 2023, the IGO Limited resolved to pay special dividend of 16 cents per share for the year ended June 30, 2023, fully franked, to be paid on September 28, 2023. Reported Earnings • Aug 31
Full year 2023 earnings released: EPS: AU$0.72 (vs AU$0.44 in FY 2022) Full year 2023 results: EPS: AU$0.72 (up from AU$0.44 in FY 2022). Revenue: AU$1.03b (up 14% from FY 2022). Net income: AU$549.1m (up 66% from FY 2022). Profit margin: 53% (up from 37% in FY 2022). Revenue is expected to decline by 4.4% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Australia are expected to grow by 2.9%. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 45% per year, which means it is significantly lagging earnings growth. New Risk • Aug 31
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 59% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Buying Opportunity • Aug 02
Now 21% undervalued Over the last 90 days, the stock is up 1.1%. The fair value is estimated to be AU$17.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 62%. For the next 3 years, revenue is forecast to decline by 4.0% per annum. Earnings is also forecast to decline by 2.1% per annum over the same time period. Buying Opportunity • Jul 18
Now 20% undervalued Over the last 90 days, the stock is up 2.1%. The fair value is estimated to be AU$18.55, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 62%. For the next 3 years, revenue is forecast to decline by 3.3% per annum. Earnings is also forecast to decline by 1.5% per annum over the same time period. Buying Opportunity • Jun 15
Now 21% undervalued Over the last 90 days, the stock is up 21%. The fair value is estimated to be AU$18.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 62%. For the next 3 years, revenue is forecast to grow by 0.9% per annum. Earnings is forecast to decline by 0.4% per annum over the same time period. Buying Opportunity • May 24
Now 20% undervalued Over the last 90 days, the stock is up 9.2%. The fair value is estimated to be AU$18.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 62%. For the next 3 years, revenue is forecast to grow by 0.2% per annum. Earnings is forecast to decline by 11% per annum over the same time period. Buying Opportunity • May 09
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be AU$18.44, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 62%. For the next 3 years, revenue is forecast to grow by 0.5% per annum. Earnings is forecast to decline by 12% per annum over the same time period. Anuncio • May 06
Metal Hawk Limited (ASX:MHK) signed a binding agreement to acquire remaining 51% stake in Kanowna East, Emu Lake and Fraser South projects in Western Australia from IGO Limited (ASX:IGO) for AUD 0.26 million. Metal Hawk Limited (ASX:MHK) signed a binding agreement to acquire remaining 51% stake in Kanowna East, Emu Lake and Fraser South projects in Western Australia from IGO Limited (ASX:IGO) for AUD 0.26 million on May 4, 2023. The transaction will result in IGO’s shareholding in Metal Hawk increasing from 5.4% to 8.2%. The payment for IGO’s 51% interest in the Fraser South, Kanowna East and Emu Lake Projects consists of 2 million fully paid MHK shares and 2 million MHK options. Board Change • Mar 22
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Sam Hogg was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Anuncio • Feb 18
IGO Limited Commences Ground Exploration Activities at the Greenbushes East Exploration Project Located Adjacent to the Greenbushes Lithium Mine IGO Limited has commenced ground exploration activities at the Greenbushes East Exploration Project located adjacent to the Greenbushes Lithium Mine . IGO, together with their lithium JV partner, Tianqi Lithium Corporation, hold a controlling interest in the adjoining Greenbushes Lithium Mine. VMC's subsidiary has entered a binding transaction with a subsidiary of IGO. Geochemical Survey targeting lithium totaling 1350 soil samples Approximately 500 soil samples to be collected at 100m x 200m spacing and approximately 850 soil samples to be collected at 160m spacing. This survey will provide a project-wide framework for further targeting and will supplement previous geochemical surveys in specific target areas. Ground EM Survey testing priority target for Ni-Cu-PGE sulphides Two lines will be completed across a priority platinum-palladium-nickel- copper (Pt-Pd-Ni-Cu) target that was outlined by previous exploration carried out by VMC; completion of the ground EM survey is expected by mid-March 2023. Ground Gravity Survey Approximately 700 survey stations at 250m spacing across all granted tenements of the Project will assist with delineating geological structures and higher- & lower-density bedrock, for example, mafic-ultramafic intrusions & rare metal pegmatites. The survey is estimated to be completed in March 2023. VMC's Greenbushes East Exploration Project comprises five granted tenements held by Venus Subsidiary, E70/5315, E70/5316, E70/5620, E70/5712 and E70/6009, and one exploration application, E70/5675. The VMC tenements are subject to a Farm-in and Joint Venture Agreement in which IGO Subsidiary can progressively acquire up to a 70% interest in the Greenbushes East Exploration Project by incurring AUD 6,000,000 of exploration expenditure on the Project. IGO's Subsidiary will sole fund all Joint Venture expenditure until the completion of a pre-feasibility study in relation to the Project. If IGO's Subsidiary completes a pre-feasibility study, it has the right to acquire Venus Subsidiary's 30% interest in the Project for a price based on fair market value. Should IGO's Subsidiary elect not to acquire the 30% interest, the parties will continue to be associated in an unincorporated Joint Venture under which the IGO Subsidiary must use reasonable endeavors to market and process all Joint Venture product, including Venus Subsidiary's share. Under the Agreement IGO purchased 9,000,000 fully paid ordinary shares in VMC, making IGO a substantial shareholder. The western boundary of the VMC tenure abuts the Greenbushes mining leases. Geological mapping and reconnaissance surface sampling by VMC within an area of potassic alteration (>9 km2) located pegmatite outcrops. In the south of E70/5315, an ultrafine soil (UF) survey discovered a strong lithium (Li) anomaly, approx. 20 km southeast of the Greenbushes Lithium Mine. Significantly, this Li anomaly is associated with elevated tin (Sn). Elevated tungsten (W) and tantalum (Ta) concentrations adjoin the Li anomaly to the west . The Greenbushes East Exploration Project falls within the West Yilgarn Ni-Cu-PGE Province first outlined by Chalice Mining Limited that covers an area of c. 1,200km X 100km and extends from the Narryer Terrane in the north to the Southwest Terrane in the south. The Greenbushes East Exploration Project abuts Chalice's and Venture Minerals' Southwest Project. A historical Heliborne Electromagnetic (HEM) survey indicated a conductor closely associated with a strong magnetic anomaly that appears to be the northern extension of the Thor Target magnetic trend. A review and remodeling of the geophysical data including a new 3D inversion of magnetic data further highlights a coincident HEM/magnetic target. Rock chip and laterite geochemical data combined with historical data identified several target areas for potential mafic-ultramafic hosted Ni-Cu-PGE mineralization. One of these areas, located in the east of E70/5315, coincides with an aeromagnetic high and a HEM anomaly. Geochemical soil sampling detected anomalous concentrations of Pt, Pd and base metals in the ultrafine soil fraction where mafic-ultramafic intrusive rocks crop out nearby. An EM survey across this target is scheduled for March 2023. Anuncio • Jan 31
IGO Limited Announces Ordinary Fully Franked Dividend for the Six Months Ended 31 December 2022, Payable on 31 March 2023 IGO Limited announced ordinary fully franked dividend of AUD 0.14000000 for the six months ended 31 December 2022. Ex Date is 16 March 2023, Record Date is 17 March 2023 and Payment Date is 31 March 2023. Anuncio • Jan 25
IGO Limited Announces the Appointment of Samantha Hogg to its Board as an Independent Non-Executive Director IGO Limited announced the appointment of highly experienced mining executive Ms. Samantha Hogg to its Board as an independent Non-executive Director. Samantha's appointment is effective 25 January 2023. Samantha is an experienced executive with international experience across the transport, infrastructure, energy and resources sectors. She has held senior executive positions at Transurban Group and Western Mining Company across a broad range of portfolios including finance, strategic projects, marketing and corporate services. Her most recent executive role was as the Chief Financial Officer of Transurban Group. Samantha is also a non-executive director of Cleanaway Waste Management Limited, Adbri Limited and Chair of Marinus Link Pty Ltd. Samantha has held non-executive director positions with De Grey Mining Limited, Australian Renewable Energy Agency, TasRail, MaxiTRANS Industries Limited, Hydro Tasmania and Infrastructure Australia, and was formerly a board member of the National COVID-19 Commission Advisory Board. Following the appointment of Ms Hogg, the Board of IGO is as follows: Michael Nossal, Non-executive Chair; Trace Arlaud, Non-executive Director; Debra Bakker, Non-executive Director; Samantha Hogg, Non-executive Director; Justin Osborne, Non-executive Director; Keith Spence, Non-executive Director; and Xiaoping Yang, Non-executive Director. Anuncio • Jan 02
IGO Limited to Report Q1, 2024 Results on Oct 30, 2023 IGO Limited announced that they will report Q1, 2024 results on Oct 30, 2023 Recent Insider Transactions • Nov 18
Independent Non-Executive Director recently bought AU$170k worth of stock On the 11th of November, Xiaoping Yang bought around 10k shares on-market at roughly AU$17.01 per share. This transaction increased Xiaoping's direct individual holding by 3x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold AU$5.5m more in shares than they bought in the last 12 months. Recent Insider Transactions • Nov 03
Independent Non-Executive Director recently bought AU$148k worth of stock On the 1st of November, Justin Osborne bought around 10k shares on-market at roughly AU$14.83 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold AU$5.5m more in shares than they bought in the last 12 months. Anuncio • Oct 10
IGO Limited Announces Board Changes IGO Limited announced the appointment of highly experienced mining executive Mr. Justin Osborne to its Board as an independent Non-executive Director. Justin's appointment is effective 10 October 2022. Mr. Osborne is an experienced mining executive and resources technical professional, with over 30 years association in all aspects of the mining and exploration resource sector, with a highly successful career covering multiple commodities in Australia and Internationally. He has held executive management and board positions at companies including Gold Road Resources Limited, Gold Fields Ltd, WMC Resources Ltd, and currently serves as non-executive chair of Matador Mining Ltd. and as non-executive director on the boards of Hamelin Gold Ltd. and Astral Resources Ltd. Following the appointment of Mr. Osborne, the Board of IGO is as follows: Michael Nossal, Non-executive Chair; Peter Bradford, Managing Director & CEO; Trace Arlaud, Non-executive Director; Debra Bakker, Non-executive Director; Peter Buck, Non-executive Director; Justin Osborne, Non-executive Director; Keith Spence, Non-executive Director; Xiaoping Yang, Non-executive Director. Mr. Peter Buck has indicated his intention to not stand for re-election at the Company's Annual General Meeting on 17 November. Ms Kathleen Bozanic stepped down from the IGO Board on 30 September and commenced as Chief Financial Officer on 10 October. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 16% share price gain to AU$14.91, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Metals and Mining industry in Australia. Total returns to shareholders of 147% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at AU$21.95 per share. Recent Insider Transactions • Sep 10
Independent Non-Executive Director recently bought AU$51k worth of stock On the 7th of September, Debra Bakker bought around 4k shares on-market at roughly AU$12.70 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold AU$5.7m more in shares than they bought in the last 12 months. Upcoming Dividend • Sep 08
Upcoming dividend of AU$0.05 per share Eligible shareholders must have bought the stock before 15 September 2022. Payment date: 30 September 2022. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Australian dividend payers (6.6%). Lower than average of industry peers (10.0%). Reported Earnings • Aug 31
Full year 2022 earnings released: EPS: AU$0.44 (vs AU$0.17 in FY 2021) Full year 2022 results: EPS: AU$0.44 (up from AU$0.17 in FY 2021). Revenue: AU$902.8m (up 34% from FY 2021). Net income: AU$330.9m (up 183% from FY 2021). Profit margin: 37% (up from 17% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 24%, compared to a 91,060% growth forecast for the Metals and Mining industry in Australia. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 29% per year. Anuncio • Aug 30
IGO Limited Announces Dividend for the Year Ended 30 June 2022, Payable on 30 September 2022 IGO Limited announced that on 29 August 2022, the Directors resolved to pay a final dividend for the year ended 30 June 2022, payable on 30 September 2022. The dividend is 5 cents per share and will be fully franked. Anuncio • Aug 29
IGO Limited Appoints Trace Arlaud as an Independent Non-Executive Director IGO Limited announced the appointment of highly experienced mining executive Ms. Trace Arlaud to its Board as an independent Non-executive Director. Trace's appointment is effective 29 August 2022. Trace is a senior mining executive with over 28 years' experience in the management of mining and site operations and large engineering projects. She has held executive management and board positions at companies including Rio Tinto, JDS Energy and Mining, Hatch Associates, McIntosh Engineering/Santec, PT Freeport Indonesia, WMC Resources and Normandy Mining, and is currently CEO of underground mining specialist, IMB and serves as non-executive director on the boards of Global Atomic Corporation, Seabridge Gold Inc. and Imdex Limited. Trace has particular experience in underground mine planning and operations and has a significant track record in complex underground mining operations and an acute understanding of the associated safety risks. Buying Opportunity • Jul 16
Now 25% undervalued after recent price drop Over the last 90 days, the stock is down 34%. The fair value is estimated to be AU$12.38, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 8.9% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 8.8% per annum. Earnings is also forecast to grow by 5.0% per annum over the same time period. Anuncio • May 20
IGO Limited Announces First Battery Grade Product from Kwinana Refinery IGO Limited announced first and consistent production of battery grade lithium hydroxide from the Kwinana Lithium Hydroxide Refinery (Kwinana), representing an important milestone for the Lithium Joint Venture between IGO (49%) and Tianqi Lithium Corporation (51%). Based on onsite laboratory tests, the joint venture has successfully and consistently produced battery grade lithium hydroxide over several days. Once product samples have been independently verified, the product qualification process with offtake customers will commence. Anuncio • Apr 11
IGO Executing Substantial 2022 West Kimberley Field Season Buxton Resources updates its shareholders that Joint Venture partner IGO has provided information regarding the upcoming 2022 West Kimberley field season. IGO has planned a very substantial field season for the West Kimberley Joint Venture, with the priority focus being at the Sentinel area where extensive ground EM coverage and drilling are planned. The 2022 field season is expected to commence in mid- to late-April with track construction into the Sentinel area, including to the Skarloey and Gordon targets, where a substantial bedrock conductor has already been identified. Three crews will undertake geological reconnaissance over areas of interest, completing p-XRF traverses, handheld petrophysical measurements, along with rock-chip sampling. A helicopter will be used to support a significant part of this program to allow efficient coverage of large areas. Two ground geophysical EM teams will start completing MLEM and FLEM surveys using High- temperature SQUID sensors during May, and drilling is expected to commence in mid-July. Programs of Work for ground disturbing activities have been submitted, and stakeholder notifications have already commenced. Recent Insider Transactions • Mar 11
Independent Non-Executive Chairman recently bought AU$197k worth of stock On the 9th of March, Michael P. Nossal bought around 15k shares on-market at roughly AU$13.16 per share. This was the largest purchase by an insider in the last 3 months. This was Michael P.'s only on-market trade for the last 12 months. Upcoming Dividend • Feb 24
Upcoming dividend of AU$0.05 per share Eligible shareholders must have bought the stock before 03 March 2022. Payment date: 18 March 2022. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of Australian dividend payers (5.4%). Lower than average of industry peers (8.7%). Anuncio • Feb 22
IGO Confirms Exclusive Talks with Glencore Regarding the CSA Copper IGO Limited (ASX:IGO) has taken to the ASX to address media speculation surrounding a deal with international commodity company Glencore plc (LSE:GLEN) . IGO, February 21, 2022 confirmed it had entered exclusive talks with Glencore regarding the CSA copper mine in New South Wales in response to reports alleging IGO had won an auction to acquire the 50,000 tonnes per annum asset. While confirming the parties were in discussions regarding a proposed sale, IGO iterated those discussions were incomplete and that no decision or agreement had been entered regarding CSA. "IGO confirms that it is in exclusive discussions with Glencore in relation to a proposed sale of CSA," IGO said in its statement to the ASX. "However, at this stage, discussions between IGO and Glencore are incomplete and IGO is continuing to conduct due diligence as part of the ongoing sales process. "IGO has made no decision and nor has it entered into any definitive acquisition agreement with respect to CSA" . IGO says it will keep the market informed in line with its continuous disclosure obligations. Reported Earnings • Feb 02
First half 2022 earnings: EPS in line with analyst expectations despite revenue beat First half 2022 results: EPS: AU$0.12 (up from AU$0.033 in 1H 2021). Revenue: AU$378.4m (up 21% from 1H 2021). Net income: AU$90.7m (up 360% from 1H 2021). Profit margin: 24% (up from 6.3% in 1H 2021). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 15%. Over the next year, revenue is forecast to grow 1.5%, compared to a 715% growth forecast for the industry in Australia. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Anuncio • Feb 01
IGO Limited Provides Production Guidance for the Third Quarter and Full Year of 2022 IGO Limited provided production guidance for the third quarter and full year of 2022. For the quarter, the company expects production to be lower due to planned lower feed grades. For the full year, the company expects its financial year guidance, however, remains unchanged. Anuncio • Jan 31
IGO Limited Announces Interim Dividend for the Year 2022, Payable on March 18, 2022 IGO Limited announced interim dividend of 5.0 cents per share fully franked for the fiscal year 2022. Record date is March 4, 2022. The dividend will be payable on March 18, 2022. Buying Opportunity • Jan 26
Now 23% undervalued Over the last 90 days, the stock is up 21%. The fair value is estimated to be AU$15.44, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.2% per annum over the last 3 years. Earnings per share has grown by 20% per annum over the last 3 years. Anuncio • May 31
AFB Resources Pty Ltd completed 30% stake in Tropicana Project from IGO Limited (ASX:IGO) for approximately AUD 890 million. AFB Resources Pty Ltd entered into a binding agreement to acquire 30% stake in Tropicana Project from IGO Limited (ASX:IGO) for approximately AUD 900 million on April 13, 2021. The purchase price is payable in cash, upon completion of the transaction. The purchase price is subject to completion adjustments. Upon completion of the transaction, Tropicana will be a 30:70 unincorporated joint venture between Regis Resources Limited (ASX:RRL), AFB Resources’ parent and AngloGold. Regis intends to fund the transaction through a combination of a fully underwritten equity raising of up to AUD 650 million via an institutional placement and an accelerated pro rata non-renounceable entitlement offer (Equity Raising or the Offer) and a new AUD 300 million loan facility. Regis has entered into a credit approved term sheet with Bank of America, N.A Australia Branch to provide the secured term loan facility. In the event of termination of transaction, Regis is entitled to a break-fee from IGO of AUD 25 million if AngloGold exercise its pre-emptive rights prior to the settlement of the placement and institutional entitlement offer; or AUD 40 million if AngloGold exercise its pre-emptive rights after the settlement of the placement and institutional entitlement offer. On April 14, 2021, institutional placement and an accelerated pro rata non-renounceable entitlement offer is completed.
Completion of the transaction is subject to the waiver or non-exercise of a right of last refusal (ROLR) of up to 60-days held by AngloGold Ashanti Australia Limited as well as other customary regulatory conditions precedent. If AngloGold Ashanti exercises its ROLR, the transaction with Regis will not proceed and IGO will instead dispose of its 30% interest in Tropicana to AngloGold Ashanti at the same price and on the same terms which have been agreed with Regis. As of April 22, 2021, AngloGold Ashanti has waived its pre-emptive right over the 30% stake in the Tropicana Gold Mine. The transaction is expected to close by June 2021. As of April 22, 2021, the transaction is expected to be completed on or before 31 May 2021. As of May 6, 2021, all conditions precedent to the transaction has been satisfied and completion of the acquisition is expected to occur on or around May 31, 2021. Proceeds from the sale of Tropicana will be applied to funding IGO’s investment in the Australian lithium assets of Tianqi Lithium Corporation. The transaction will be accretive to Regis’ existing portfolio. Macquarie Capital (Australia) Limited acted as financial advisor while Herbert Smith Freehills acted as legal advisor for IGO. Bank of America acted as financial advisor while King & Wood Mallesons acted as legal advisor for Regis.
AFB Resources Pty Ltd completed 30% stake in Tropicana Project from IGO Limited (ASX:IGO) for approximately AUD 890 million on May 31, 2021. Following the necessary adjustments, the consideration paid to IGO was AUD 889 million. Recent Insider Transactions • Mar 27
Independent Non-Executive Director recently bought AU$64k worth of stock On the 23rd of March, Xiaoping Yang bought around 10k shares on-market at roughly AU$6.43 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$787k more in shares than they have sold in the last 12 months. Anuncio • Mar 17
IGO Limited Reports Annual Mineral Resource and Ore Reserve Estimates as At 31 December 2020 IGO Limited reported its annual Mineral Resource and Ore Reserve estimates as at 31 December 2020 as well as material Exploration Results for the 2020 calendar year (CY20). The estimates include IGO's 100% owned Nova Operation (Nova) and its 30% interest in the Tropicana Joint Venture (Tropicana), which includes the Tropicana Gold Mine. Assuming a production rate of 1.5M/t for the Nova Operation, and a declining production rate towards the end of mine's life, the CY20 ORE of 9.0Mt gives Nova more than a six year mine life. During CY20, IGO progressed its strategy to transition the business into a producer of metals and products that are in demand for the growing energy storage and clean energy industries, including the rapidly growing electric vehicle and transport market. The priority metals for this strategy are nickel, copper and cobalt, with other metals and minerals being investigated by IGO's generative exploration team. IGO will also continue to consider and maximise value from other metals, such as gold, especially if deposits are discovered or acquired on, or near, existing IGO mining operations, exploration concessions, or associated with ongoing exploration project generation programs. Analyst Estimate Surprise Post Earnings • Jan 29
Revenue beats expectations Revenue exceeded analyst estimates by 5.8%. Over the next year, revenue is forecast to grow 3.9%, compared to a 130% growth forecast for the Metals and Mining industry in Australia. Reported Earnings • Jan 29
First half 2021 earnings released: EPS AU$0.09 (vs AU$0.17 in 1H 2020) The company reported a poor first half result with weaker earnings, revenues and profit margins. First half 2021 results: Revenue: AU$462.4m (down 2.5% from 1H 2020). Net income: AU$54.2m (down 46% from 1H 2020). Profit margin: 12% (down from 21% in 1H 2020). Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improved over the past week After last week's 19% share price gain to AU$7.56, the stock is trading at a trailing P/E ratio of 28.8x, up from the previous P/E ratio of 24.3x. This compares to an average P/E of 13x in the Metals and Mining industry in Australia. Total returns to shareholders over the past three years are 65%. Is New 90 Day High Low • Jan 04
New 90-day high: AU$6.74 The company is up 53% from its price of AU$4.40 on 07 October 2020. The Australian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$5.02 per share. Anuncio • Jan 02
IGO Limited, Annual General Meeting, Nov 18, 2021 IGO Limited, Annual General Meeting, Nov 18, 2021. Anuncio • Jan 01
IGO Limited to Report Q4, 2021 Results on Jul 29, 2021 IGO Limited announced that they will report Q4, 2021 results on Jul 29, 2021