INDEPENDENCE GROUP ( IGO )
Independence Group ’ s strategy to develop a diverse portfolio of assets positions it well to ride out the inevitable fluctuations in world commodities markets
I n another article we discussed with Peter Bradford , MD and CEO of Independence Group ( IGO ), the significance of the company ’ s newest asset , the world class , low cost Nova nickel mine which will come on stream later this year . The ability to fund this important development , though , has derived largely from the strategy the company has apursued in the 14 years since its establishment and listing on the ASX in 2002 .
The Tropicana phenomenon By the time of its IPO the company had secured a 12,500 square kilometre exploration tenement on what is now known as the Tropicana gold belt ( though at the time it was not known for its gold potential ), at the western edge of the Great Victoria Desert . Subsequent exploration and development was undertaken by AngloGold Ashanti , which farmed in to the project in the same year , IGO retaining a 30 percent interest . AngloGold discovered the Tropicana deposit in 2005 and the partners gave mine development the go-ahead in 2010 based on a feasibility study
34 August 2016