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Independence Group (IGO) - Pivotal Quarter

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Independence Group (IGO) released September Q results with all assets generating positive free cashflow (FCF) and producing within stated guidance. Most notable was Nova nickel /copper achieving commercial production, ramping up to near-nameplate throughput. On a group level, IGO returned to positive FCF, before a $29m debt repayment. Net debt decreased to $142m (from $164m). Argonaut downgrades to a SELL (from HOLD) upon valuation grounds.  

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