0033 GMT - Jefferies is bullish about IGO as the investment thesis in the Australian mining company becomes increasingly clear. IGO's spending commitments on the first train of its Kwinana lithium hydroxide plant is tailing off and it has mothballed plans for an expansion. At the same time, production from IGO's Chemical Grade Plant 3 looms. IGO expects first concentrate from the CG3P in the three months through December. "This will deliver a clearer pathway for shareholder distributions," analyst Mitch Ryan says. "However, as IGO approaches Nova's end of life, ongoing soft lithium markets, and limited mandate for M&A, we expect IGO's strategy and value-accretive growth pathway to remain a focus." IGO today said production from the Nova nickel mine will cease at the end of 2026. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
April 29, 2025 20:33 ET (00:33 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.