IGO's cash conundrum

IGO, the recently renamed Independence Group, ended 2019 sitting on a pile of cash after a barnstormer of a quarter, and while the second half may not be quite as strong, how best to allocate capital occupies a lot of managing director Peter Bradford’s time. 

IGO's cash conundrum IGO's cash conundrum IGO's cash conundrum IGO's cash conundrum IGO's cash conundrum
The December quarter delivered free cashflow of A$130 million, bumping its bank balance to $454 million, even after spending around $21 million on exploration and evaluation, including a few million

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