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Reason behind drop in Independence Group

Apr 25, 2016 | Team Kalkine
Reason behind drop in Independence Group


Independence Group NL

Industry: Metals & Mining



IGO Details
  • Positive exploration results: Independence Group NL (ASX: IGO) corrected over 5.4% on April 22,  2016 after generating over 8.09% returns in the last five days (as at April 22, 2016) driven by the strong rally in the commodity markets. IGO has lately withdrawn from the Darlot JV project but has reported that it’s Jarrah Well Prospects, witnessed anomalous Cu/Zn aircore geochemistry as well as near co-incident MLEM conductors. Highly anomalous Ni-Cu-PGE values were witnessed from aircore drill samples at Waroonga Well Prospect.
  • Recommendation: We maintain our “BUY” recommendation on IGO ahead of their quarterly results on April 28, 2016 at the current price of $3.34
 

Darlot project highlights (Source: Company Reports)

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