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Business Description: Independence Group NL (IGO) is a mineral exploration company focusing on nickel, copper and zinc mining in Australia. IGO has two key mining operations being Long and Jaguar/Bentley in Western Australia. IGO currently focuses on its development Tropicana Gold project as well as Stockman copper-zinc-silver-gold project.
Strategy Analysis: Independence Group's focus is to achieve long term growth through the discovery and development of high value orebodies with a focus on gold, nickel and copper. Other commodities such as rare earths and tin will be considered. The company believes there are many more ore bodies yet to be discovered in Australia, in areas under barren cover and in previously unrecognised mineralised belts. The preferred focus is within Australia but Independence Group will also consider other jurisdictions. To achieve its goals the company seeks to apply leading edge geological science, invest in technical innovation particularly aimed at the discovery of deposits hidden under thick cover, apply new technology to established and emerging mineral belts, acquire major land positions in frontier belts and to efficiently farm out or relinquish projects not meeting internal technical milestones.
Independence Group reported NPAT of $16.5m for the half-year ended 31 December 2012. The return to profitability for the half-year is as a result of a solid performance by the Long Nickel Operation, together with a promising turnaround in the performance of the Jaguar/Bentley Copper and Zinc Operation. The Jaguar/Bentley Operation was impaired in the prior comparative December 2011 half-year by $157.74m. Revenues from ordinary activities were $122.15m, up 15.7% from the same period last year. Diluted EPS was 7.05 cents compared to (70.63) cents last year. Net operating cash flow was $38.18m compared to $9.79m last year. The interim dividend declared was 1.0 cent compared with 2.0 cents last year.
Nick Swales, Regional Director, Newcastle Office, Rathbones 27/10/2014 |
â€śIf you want to have a better performance than the crowd, you must do things differently from the crowd.â€ť Sir John Templeton.
Ric Spooner (Chief Market Analyst, CMC Markets) 20/10/2014 |
Today, Australian investors will not have to go it alone buying stocks as they did for much of last week. Bargain hunters this morning will be supported by the morale boosting encouragement of a 3% turnaround in the German Dax and a 264 point rally in the Dow Jones.
Carl Richards, director of investor education at the BAM Alliance 17/10/2014 |
â€śAs odd as it may sound, the sooner you start treating your investments like you treat life, the happier youâ€™ll be with the outcome.â€ť
William H. Gross, Janus Capital Group 16/10/2014 |
â€śFinancial markets are artificially priced. In the bond market, there is nothing normal about a three year German Bund yielding â€śminusâ€ť 10 basis points.â€ť
CMC Markets 8/10/2014 |
Share market indices around the globe are breaking down. While analysts cast around for reasons, itâ€™s clear that a time factor is in play. Simply put, many investors â€śfeelâ€ť a correction is overdue. How low could it go?
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