Yesterday saw IGO trade ex-dividend 60c fully franked, but on the day, it fell by more, ultimately closing down $1.08. Nickel and lithium miner IGO delivered a strong result in August, including the surprisingly large dividend we saw on Wednesday which enabled investors to move on from the company’s Western Areas (WSA) $1bn write down such a short time after acquiring it. We believe this is an excellent decarbonisation company, and with both of its core commodities enduring extremely tough six months, the time to start accumulating could be approaching.
- We like the risk-reward toward IGO another 10% lower.
MM would consider IGO below $12
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