IGO 2.12% $5.09 igo limited

$2.87 to $3.45 is already some kind of decent bounce. I've stuck...

  1. 3,967 Posts.
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    $2.87 to $3.45 is already some kind of decent bounce.

    I've stuck to my plan with them, and it has worked well for me over the past 6-9 months, but I have to admit I have sellers remorse this arvo.

    With shorts still so high, it won't take much to spark that shorters' rally. Maybe some left-field exploration success?

    I still think overall IGO has under-performed. Gains in gold have been off-set by the Ni prices and production. Unexpected delays with the new mine didn't help, as has paying too much for SIR, in the context of Ni price cycles.

    The market will want some type of confirmation of Nova being the cash cow it is expected to be before fully believing the story.

    For me, a break out from the downtrend after some accumulation around these levels, and a move back above the 200 dma, and it becomes a long term hold again.

    Milesy
    Last edited by milesy: 26/05/17
 
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