IGO is one of the lowest-cost global producers of lithium (Li), with a net cash position of $259 million, which positions it strongly for when the Li price finally turns. So far, China Lithium Spodumene has stopped falling trading in the $US740-790 region for the last 3 months, high enough for IGO to turn a profit, making it easier to be a patient holder.
- We believe IGO’s next 20% move is on the upside, but another attempt to break $4.70 cannot be ruled out.
MM is cautiously bullish toward IGO
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