Independence Group Beats Metal Production Guidance

THE BOURSE WHISPERER: Independence Group (ASX: IGO) reported preliminary metal production for the Nova and Tropicana operations for the December 2019 Quarter (2Q20) and for the first half of the 2020 Financial Year (1H20).

Independence Group declared a consistently strong operational performance at Nova resulted in nickel, copper and cobalt production for 2Q20 and 1H20, exceeding the company’s pro-rata guidance range for FY20.

Meanwhile at Tropicana, gold production and gold sales also exceeded pro-rata FY20 guidance following an excellent 2Q20 result.

“Production at Nova and Tropicana beat guidance in the December Quarter and the first half of FY20 reflecting the quality of both operations and the dedication and focus of the Nova and Tropicana teams,” Independence Group managing director and CEO Peter Bradford said in the company’s announcement to the Australian Securities Exchange.

“Looking ahead to the second half of FY20, we are expecting Nova to maintain performance in line with guidance as we continue to focus on delivering cost improvements and continuous improvement of operational efficiencies.

“At Tropicana, we also expect to produce within guidance for the year, with lower gold production during 2H20, in line with our mine plan.”