Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
IGO ( (AU:IGO) ) just unveiled an announcement.
IGO Limited has announced its intention to withdraw from the Fraser Range Joint Venture, effectively terminating the partnership with Carawine Resources Limited. Carawine now has the option to purchase IGO’s 76% interest in the remaining tenement for a nominal fee or allow its surrender. This decision follows several exploration programs that concluded further work was not warranted. Additionally, Carawine is awaiting a court decision regarding a compulsory acquisition attempt by its major shareholder, QGold Pty Ltd, which has faced objections from other shareholders.
The most recent analyst rating on (AU:IGO) stock is a Sell with a A$4.90 price target. To see the full list of analyst forecasts on IGO stock, see the AU:IGO Stock Forecast page.
More about IGO
Carawine Resources Limited is a gold and base metals exploration company focused on the Fraser Range Nickel Project in Western Australia. The company is involved in exploring magmatic nickel-sulphide deposits and has been part of the Fraser Range Joint Venture with IGO Limited.
Average Trading Volume: 4,128,005
Technical Sentiment Signal: Sell
Current Market Cap: A$3.26B
For an in-depth examination of IGO stock, go to TipRanks’ Overview page.