It made a good fist of it too through exploration success and merger and acquisition activity over ensuing years. But the A$1.8 billion acquisition of the Nova nickel-copper-cobalt project by taking over Sirius Resources in 2015 changed things.
Nova was a world-class project and made everything else accumulated since 2002 look second rate, with the only exception being IGO's 30% non-managed stake in what remains as one of Australia's best gold discoveries in the modern era, the AngloGold Ashanti-managed and 70% owned Tropicana project.
The subsequent development of Nova and its bedding down in to steady state operation prompted a hard-nosed assessment of the value of hanging on to the second rate assets.
It's why the advanced but undeveloped Stockman cop...