IGO smashes guidance with strong Nova performance

published 29.07.2020 02:12

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IGO has exceeded guidance for all metals produced at the Nova mine in Western Australia’s Fraser Range for the second year in a row.

While accomplishing high results at IGO’s existing operations, the company in partnership with AngloGold Ashanti is edging closer to commercial production at the Boston Shaker underground mine.

“At Nova, full year production of all metals exceeded the top end of guidance for the second year in a row, achieved within our guided cost range and has underpinned the generation of $311 million of free cash flow for shareholders over the 2020 financial year.”

The company intends to spend $38 million on drill testing targets within the Fraser Range during the 2021 financial year and a total of $65 million in total on exploration.

“We maintain our strong conviction that our exploration strategy with deliver significant organic growth opportunities and we look forward to what our 2021 financial year program of work will deliver,” Bradford concluded.

by Salomae Haselgrove from australianmining.com.au

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