IGO has also fallen -20% from its January high and it looks poised to make fresh 6-month lows in the coming weeks, sentiment is not being helped by the move by some battery makers towards LFP batteries which will reduce the amount of the expensive nickel & Cobalt required to make battery cells e.g. EV market leader Tesla now use LFP batteries in a portion of its vehicles.
- We are likely to buy MIN as opposed to increasing our IGO position for further ESG exposure in our Flagship Growth Portfolio, diversifying our spread of holdings. NB MM recently trimmed our IGO holding in our Flagship Growth Portfolio around $16.
MM is long and cautiously bullish IGO around $13
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