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Thoughts on IPD Group (IPG)

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    Thoughts on IPD Group (IPG)

    H James, Do you know why IPG has pulled back significantly in recent weeks? Would you say it is a stock worth holding? And what is your opinion on Latin Resources? Do you think it will recover with the price of spodumene? TG6 has skyrocketed with recent drill results. From a mining point of view, would their results be minable given they are quite shallow? As always, thank you for your well researched and well considered answers. Jacky

    Answer

    Hi Jacky,

    • Electrical equipment company IPD Group (IPG) fell around 25% from September highs without any news in October. The company has a strong tailwind from it’s EV & data centre exposure over the next few years and their FY23 result in August impressed us. We like IPG around $4/sh and it is on the radar for the Emerging Companies Portfolio.
    • Latin Resources (LTR) has seen strong drill results out of their Brazilian lithium project, Colina, last quarter. They also managed a $35m cap raise to support further drilling. The company will need to continue to see high quality lithium intercepts to justify the capital investment to build the project, but in the meantime it is likely to track the lithium price.
    • Early results from TG Metals (TG6) were positive, however there still remains significant hurdles before we see a production out of their Lake Johnston project in WA. We see further consolidation of lithium deposits in WA, TG6 will need to continue to sure up the quality of their deposit to be a part of any M&A.
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    IPD Group Ltd (IPG)
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