Independence Group’s Progress at Nova-Bollinger Drives Small Fair Value Upgrade
Our fair value estimate for Independence Group increases from AUD 2.20 to AUD 2.30 per share with better-than-expected first-quarter fiscal 2017 production and a faster development of Nova-Bollinger. First concentrate has been produced at Nova-Bollinger, and while management has not changed fiscal 2017 guidance, we now expect nickel production to be at the top end of the range of 9,000 to 10,000 tonnes. The company is on track to meet or exceed guidance elsewhere with Long and Jaguar tracking be...Independence Group is a mining, development and exploration company. Co. has brought into production the Nova Nickel, Copper & Cobalt Project, located in southern Western Australia effective Jul 1 2017. In addition, Co. produces gold, nickel, copper, zinc and silver from three other mining operations in Western Australia comprising the Tropicana Gold mine located east northeast of Kalgoorlie; the Jaguar zinc, copper and silver mine and processing operations north of Leonora; and the Long nickel mine in Kambalda. Furthermore, Co. is actively exploring in the prospective Albany Fraser Range as well as the prospective Lake Mackay region in the Northern Territory.
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