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IGO ( (AU:IGO) ) has shared an update.
IGO Limited’s recent quarterly report highlights a robust performance at its Greenbushes site, which exceeded production expectations and maintained strong financial returns. However, the company faced challenges at its Nova site due to lower grades, and at the Kwinana Lithium Hydroxide Plant 2, where work ceased due to economic challenges. The company’s financials show a group EBITDA loss of $79 million, impacted by lower contributions from its joint venture and foreign exchange losses. Despite these challenges, IGO maintains a strong net cash position and continues to focus on safety and strategic growth through partnerships, particularly with Tianqi Lithium Corporation.
More about IGO
IGO Limited is a company involved in the mining industry, with a focus on the production of lithium, nickel, and other related minerals. The company’s primary operations include the Greenbushes Lithium Mine, the Nova Nickel-Copper-Cobalt Project, and other projects in Western Australia. IGO is known for its efforts in safety initiatives and sustainability in its operations.
YTD Price Performance: 3.23%
Average Trading Volume: 615
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $2.43B
Find detailed analytics on IGO stock on TipRanks’ Stock Analysis page.
