IGO made fresh all-time highs last week which is especially relevant to us because MM has been targeting the $16 area for the last few months however the company has made two very timely acquisitions in the space of just two years, enabling the business to enjoy healthy cashflow while bankrolling its exciting nickel and lithium growth, we had been considering reducing our position into fresh highs but at this stage, as the business evolves we’re inclined to give this position more room.
- We are holding an excellent paper profit from our IGO position but at this stage, we see no reason to reduce our position although we are cognisant that many stocks have failed after making fresh highs over the last 12 months.
MM remains long and bullish IGO
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